Enterprise Products Partners L.P. (EPD) To Go Ex-Dividend on July 31st

Enterprise Products Partners L.P. (NYSE:EPD) declared a quarterly dividend on Wednesday, July 10th, RTT News reports. Stockholders of record on Wednesday, July 31st will be paid a dividend of 0.525 per share by the oil and gas producer on Wednesday, August 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.20%. The ex-dividend date is Wednesday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52.

Enterprise Products Partners has raised its dividend by an average of 3.6% per year over the last three years and has increased its dividend annually for the last 27 consecutive years. Enterprise Products Partners has a payout ratio of 71.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Enterprise Products Partners to earn $2.86 per share next year, which means the company should continue to be able to cover its $2.06 annual dividend with an expected future payout ratio of 72.0%.

Enterprise Products Partners Price Performance

NYSE:EPD opened at $29.18 on Friday. The company has a market capitalization of $63.37 billion, a P/E ratio of 11.44, a P/E/G ratio of 1.36 and a beta of 1.04. The business’s 50-day moving average is $28.60 and its 200 day moving average is $28.06. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99. Enterprise Products Partners has a 12 month low of $25.61 and a 12 month high of $29.99.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. The firm had revenue of $14.76 billion during the quarter, compared to the consensus estimate of $13.82 billion. During the same period in the prior year, the company earned $0.64 EPS. The company’s quarterly revenue was up 18.6% compared to the same quarter last year. On average, equities research analysts forecast that Enterprise Products Partners will post 2.72 earnings per share for the current fiscal year.

Analysts Set New Price Targets

EPD has been the topic of a number of research reports. Mizuho restated a “buy” rating and issued a $34.00 target price on shares of Enterprise Products Partners in a report on Thursday, April 4th. Truist Financial boosted their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Barclays raised their price objective on Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, March 26th. Wells Fargo & Company boosted their target price on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $35.00 price target on shares of Enterprise Products Partners in a report on Friday, April 5th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Buy” and a consensus price target of $32.77.

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.