Enterprise Products Partners L.P. (NYSE:EPD) to Issue Quarterly Dividend of $0.56

Enterprise Products Partners L.P. (NYSE:EPD) announced a quarterly dividend on Tuesday, July 7th. Shareholders of record on Friday, July 31st will be paid a dividend of 0.56 per share by the oil and gas producer on Friday, August 14th. This represents a c) annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend is Friday, July 31st. This is a 1.8% increase from Enterprise Products Partners’s previous quarterly dividend of $0.55.

Enterprise Products Partners has increased its dividend by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 28 years. Enterprise Products Partners has a dividend payout ratio of 73.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Enterprise Products Partners to earn $3.29 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 66.9%.

Enterprise Products Partners Price Performance

Shares of EPD stock opened at $37.65 on Wednesday. Enterprise Products Partners has a fifty-two week low of $30.01 and a fifty-two week high of $40.17. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. The firm has a market capitalization of $81.38 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 1.29 and a beta of 0.49. The stock’s 50-day simple moving average is $37.72 and its 200-day simple moving average is $36.21.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.03). The company had revenue of $14.39 billion during the quarter, compared to analysts’ expectations of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The business’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 earnings per share. As a group, equities analysts forecast that Enterprise Products Partners will post 3.01 earnings per share for the current fiscal year.

Institutional Trading of Enterprise Products Partners

Hedge funds have recently modified their holdings of the stock. Evanson Financial LLC purchased a new stake in Enterprise Products Partners in the 2nd quarter worth approximately $2,728,000. Fermata Advisors LLC increased its holdings in shares of Enterprise Products Partners by 19.3% during the 2nd quarter. Fermata Advisors LLC now owns 15,532 shares of the oil and gas producer’s stock valued at $571,000 after purchasing an additional 2,515 shares in the last quarter. 180 Wealth Advisors LLC lifted its stake in shares of Enterprise Products Partners by 2.7% in the 2nd quarter. 180 Wealth Advisors LLC now owns 53,274 shares of the oil and gas producer’s stock valued at $1,958,000 after purchasing an additional 1,378 shares during the period. M.E. Allison & CO. Inc. boosted its holdings in Enterprise Products Partners by 5.5% during the second quarter. M.E. Allison & CO. Inc. now owns 7,765 shares of the oil and gas producer’s stock worth $285,000 after buying an additional 402 shares in the last quarter. Finally, CoreCap Advisors LLC boosted its holdings in Enterprise Products Partners by 2.5% during the second quarter. CoreCap Advisors LLC now owns 167,364 shares of the oil and gas producer’s stock worth $6,152,000 after buying an additional 4,102 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

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.