Enterprise Products Partners L.P. (NYSE:EPD) to Issue Dividend Increase – $0.45 Per Share

Enterprise Products Partners L.P. (NYSE:EPD) declared a quarterly dividend on Monday, January 13th, RTT News reports. Shareholders of record on Friday, January 31st will be paid a dividend of 0.445 per share by the oil and gas producer on Wednesday, February 12th. This represents a $1.78 dividend on an annualized basis and a yield of 6.15%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.44.

Enterprise Products Partners has raised its dividend by an average of 3.6% annually over the last three years and has increased its dividend every year for the last 20 years. Enterprise Products Partners has a payout ratio of 82.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Enterprise Products Partners to earn $2.19 per share next year, which means the company should continue to be able to cover its $1.77 annual dividend with an expected future payout ratio of 80.8%.

Shares of Enterprise Products Partners stock opened at $28.93 on Tuesday. Enterprise Products Partners has a 12-month low of $25.04 and a 12-month high of $30.86. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 1.00. The stock has a market cap of $62.39 billion, a PE ratio of 14.91, a price-to-earnings-growth ratio of 3.26 and a beta of 0.88. The company has a 50-day moving average of $27.62 and a two-hundred day moving average of $28.16.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Monday, October 28th. The oil and gas producer reported $0.48 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.05). The firm had revenue of $7.96 billion during the quarter, compared to analysts’ expectations of $8.97 billion. Enterprise Products Partners had a return on equity of 19.59% and a net margin of 14.07%. The firm’s revenue was down 16.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 earnings per share. On average, sell-side analysts forecast that Enterprise Products Partners will post 2.17 EPS for the current fiscal year.

EPD has been the subject of several recent analyst reports. Morgan Stanley initiated coverage on shares of Enterprise Products Partners in a research note on Monday, January 6th. They issued an “overweight” rating and a $32.00 target price for the company. ValuEngine raised shares of Enterprise Products Partners from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $33.67.

In other news, Director Randa Duncan Williams bought 103,000 shares of the stock in a transaction on Monday, December 30th. The stock was purchased at an average cost of $28.13 per share, with a total value of $2,897,390.00. Insiders acquired a total of 880,796 shares of company stock valued at $23,471,253 over the last ninety days. 37.50% of the stock is owned by corporate insiders.

About Enterprise Products Partners

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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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Dividend History for Enterprise Products Partners (NYSE:EPD)

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