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

Enterprise Products Partners L.P. (NYSE:EPD) declared a quarterly dividend on Thursday, October 8th. Shareholders of record on Friday, October 30th will be given a dividend of $0.56 per share by the oil and gas producer on Friday, November 13th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date is Friday, October 30th.

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 74.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Enterprise Products Partners to earn $3.22 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 69.6%.

Enterprise Products Partners Stock Down 0.3%

Shares of NYSE EPD opened at $36.81 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.93 and a quick ratio of 0.66. The company has a 50-day moving average price of $38.10 and a 200-day moving average price of $37.93. The stock has a market capitalization of $79.50 billion, a P/E ratio of 12.78, a P/E/G ratio of 1.35 and a beta of 0.50. Enterprise Products Partners has a 1 year low of $30.01 and a 1 year high of $40.17.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The company had revenue of $18.27 billion for the quarter, compared to analyst estimates of $13.69 billion. During the same quarter in the prior year, the business posted $0.66 EPS. The firm’s revenue was up 60.8% compared to the same quarter last year. On average, equities research analysts forecast that Enterprise Products Partners will post 3.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Enterprise Products Partners

A number of hedge funds and other institutional investors have recently modified their holdings of EPD. Mizuho Markets Americas LLC bought a new stake in shares of Enterprise Products Partners in the second quarter valued at approximately $12,866,000. Evolve Private Wealth LLC boosted its holdings in Enterprise Products Partners by 662.0% in the 1st quarter. Evolve Private Wealth LLC now owns 154,492 shares of the oil and gas producer’s stock worth $5,846,000 after buying an additional 134,218 shares during the period. Bank of America Corp DE purchased a new position in Enterprise Products Partners in the 2nd quarter valued at approximately $416,553,000. Markel Group Inc. purchased a new position in Enterprise Products Partners in the 1st quarter valued at approximately $7,644,000. Finally, Baird Financial Group Inc. bought a new stake in Enterprise Products Partners during the 2nd quarter valued at $1,174,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. is a publicly traded master limited partnership that owns and operates midstream energy infrastructure in the United States. The company transports, stores, processes and exports oil, natural gas, natural gas liquids (NGLs), refined products and petrochemicals.

Its operations include pipelines, natural gas processing plants, NGL fractionation facilities, underground storage, marine terminals and export infrastructure. Enterprise serves producers, refiners, petrochemical manufacturers, utilities and other energy customers by connecting major producing regions with domestic and international markets.

Enterprise Products Partners was founded in 1968 and is headquartered in Houston, Texas.