Enterprise Products Partners L.P. (NYSE:EPD) announced a quarterly dividend on Friday, January 12th, RTT News reports. Investors of record on Wednesday, January 31st will be paid a dividend of 0.425 per share by the oil and gas producer on Wednesday, February 7th. This represents a $1.70 annualized dividend and a dividend yield of 5.89%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.42.

Enterprise Products Partners has increased its dividend payment by an average of 5.3% per year over the last three years and has raised its dividend every year for the last 19 years. Enterprise Products Partners has a payout ratio of 131.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Enterprise Products Partners to earn $1.48 per share next year, which means the company may not be able to cover its $1.70 annual dividend with an expected future payout ratio of 114.9%.

Shares of Enterprise Products Partners (NYSE EPD) opened at $28.88 on Friday. The stock has a market cap of $62,060.00, a P/E ratio of 26.02, a P/E/G ratio of 3.79 and a beta of 0.90. The company has a current ratio of 0.71, a quick ratio of 0.48 and a debt-to-equity ratio of 0.96. Enterprise Products Partners has a 1-year low of $23.59 and a 1-year high of $30.25.

Several equities research analysts recently issued reports on the stock. Jefferies Group reaffirmed a “buy” rating and set a $31.00 price target on shares of Enterprise Products Partners in a report on Friday. Royal Bank of Canada decreased their price target on shares of Enterprise Products Partners from $34.00 to $31.00 and set an “outperform” rating on the stock in a report on Tuesday, October 31st. BMO Capital Markets reaffirmed a “buy” rating and set a $33.00 price target on shares of Enterprise Products Partners in a report on Tuesday, November 14th. Bank of America assumed coverage on shares of Enterprise Products Partners in a report on Tuesday. They set a “buy” rating on the stock. Finally, Mizuho set a $31.00 price target on shares of Enterprise Products Partners and gave the company a “buy” rating in a report on Sunday, October 15th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Enterprise Products Partners has a consensus rating of “Buy” and an average price target of $30.99.

In other Enterprise Products Partners news, CEO Aj Teague bought 11,300 shares of the business’s stock in a transaction that occurred on Wednesday, December 27th. The shares were acquired at an average cost of $26.47 per share, for a total transaction of $299,111.00. Following the transaction, the chief executive officer now directly owns 1,474,183 shares in the company, valued at $39,021,624.01. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Carin Marcy Barth bought 12,000 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were acquired at an average price of $25.00 per share, for a total transaction of $300,000.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 31,550 shares of company stock worth $799,256. 37.50% of the stock is owned by corporate insiders.

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Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (Enterprise) is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals and refined products in North America. The Company’s segments include NGL Pipelines & Services; Crude Oil Pipelines & Services; Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

Dividend History for Enterprise Products Partners (NYSE:EPD)

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