Enterprise Products Partners L.P. (NYSE:EPD) Plans $0.54 Quarterly Dividend

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) announced a quarterly dividend on Tuesday, April 8th, Wall Street Journal reports. Shareholders of record on Wednesday, April 30th will be paid a dividend of 0.535 per share by the oil and gas producer on Wednesday, May 14th. This represents a $2.14 dividend on an annualized basis and a yield of 7.31%. The ex-dividend date of this dividend is Wednesday, April 30th.

Enterprise Products Partners has raised its dividend by an average of 5.0% annually over the last three years and has increased its dividend every year for the last 27 years. Enterprise Products Partners has a dividend payout ratio of 69.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Enterprise Products Partners to earn $3.05 per share next year, which means the company should continue to be able to cover its $2.14 annual dividend with an expected future payout ratio of 70.2%.

Enterprise Products Partners Price Performance

EPD traded up $0.34 during trading on Friday, hitting $29.29. 5,273,282 shares of the company traded hands, compared to its average volume of 4,384,344. The company has a market cap of $63.44 billion, a PE ratio of 10.89, a P/E/G ratio of 1.37 and a beta of 0.78. Enterprise Products Partners has a 1 year low of $27.37 and a 1 year high of $34.63. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The stock's 50-day simple moving average is $32.84 and its two-hundred day simple moving average is $31.84.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.05. The firm had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business's quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 earnings per share. As a group, sell-side analysts anticipate that Enterprise Products Partners will post 2.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on EPD shares. Scotiabank increased their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the company a "sector perform" rating in a research report on Thursday, March 6th. Barclays lifted their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock an "overweight" rating in a research note on Friday, March 14th. Morgan Stanley upped their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 11th. Royal Bank of Canada reiterated an "outperform" rating and issued a $37.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Finally, Citigroup reiterated a "buy" rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $36.89.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Enterprise Products Partners stock. Brighton Jones LLC raised its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 19.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 32,620 shares of the oil and gas producer's stock after purchasing an additional 5,425 shares during the quarter. Brighton Jones LLC's holdings in Enterprise Products Partners were worth $1,023,000 at the end of the most recent reporting period. Institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.