Enterprise Products Partners L.P. Declares Quarterly Dividend of $0.55 (NYSE:EPD)

Enterprise Products Partners L.P. (NYSE:EPD) announced a quarterly dividend on Thursday, April 9th. Stockholders of record on Thursday, April 30th will be paid a dividend of 0.55 per share by the oil and gas producer on Thursday, May 14th. This represents a c) annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend is Thursday, April 30th.

Enterprise Products Partners has raised its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 28 years. Enterprise Products Partners has a payout ratio of 73.1% 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 $2.20 annual dividend with an expected future payout ratio of 72.1%.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD traded down $0.50 on Thursday, hitting $37.53. The stock had a trading volume of 3,505,405 shares, compared to its average volume of 4,606,023. Enterprise Products Partners has a twelve month low of $28.26 and a twelve month high of $39.74. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.74 and a current ratio of 1.04. The firm’s 50 day moving average price is $36.75 and its 200-day moving average price is $33.54. The company has a market capitalization of $81.12 billion, a price-to-earnings ratio of 14.11, a price-to-earnings-growth ratio of 1.50 and a beta of 0.55.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Monday, February 2nd. The oil and gas producer reported $0.75 EPS for the quarter, beating the consensus estimate of $0.69 by $0.06. Enterprise Products Partners had a net margin of 11.05% and a return on equity of 19.33%. The company had revenue of $13.79 billion for the quarter, compared to the consensus estimate of $12.44 billion. During the same quarter in the previous year, the company earned $0.74 EPS. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, equities research analysts predict that Enterprise Products Partners will post 2.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on EPD. Stifel Nicolaus boosted their target price on shares of Enterprise Products Partners from $38.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. UBS Group reaffirmed a “buy” rating on shares of Enterprise Products Partners in a report on Wednesday, March 4th. Jefferies Financial Group lifted their price target on Enterprise Products Partners from $34.00 to $40.00 and gave the company a “hold” rating in a report on Tuesday, March 31st. Raymond James Financial cut Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 price target for the company. in a report on Monday, January 5th. Finally, Citigroup reaffirmed a “buy” rating and issued a $39.00 price target (up from $36.00) on shares of Enterprise Products Partners in a report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.73.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.