Enterprise Products Partners L.P. (NYSE:EPD) announced a quarterly dividend on Thursday, October 12th, RTT News reports. Shareholders of record on Tuesday, October 31st will be given a dividend of 0.4225 per share by the oil and gas producer on Tuesday, November 7th. This represents a $1.69 dividend on an annualized basis and a yield of 6.34%. This is a positive change from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.42.
Enterprise Products Partners L.P. has decreased its dividend by an average of 1.8% per year over the last three years and has increased its dividend every year for the last 18 years. Enterprise Products Partners L.P. has a payout ratio of 125.4% meaning 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 L.P. to earn $1.50 per share next year, which means the company may not be able to cover its $1.68 annual dividend with an expected future payout ratio of 112.0%.
Enterprise Products Partners L.P. (NYSE:EPD) last issued its quarterly earnings data on Thursday, August 3rd. The oil and gas producer reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.03). Enterprise Products Partners L.P. had a return on equity of 12.04% and a net margin of 10.28%. The company had revenue of $6.61 billion during the quarter, compared to the consensus estimate of $6.44 billion. During the same quarter last year, the company posted $0.27 earnings per share. The firm’s revenue for the quarter was up 17.6% compared to the same quarter last year.
Several research analysts have commented on EPD shares. Stifel Nicolaus restated a “buy” rating and issued a $30.00 price objective on shares of Enterprise Products Partners L.P. in a report on Friday, August 11th. Scotiabank set a $33.00 price objective on shares of Enterprise Products Partners L.P. and gave the stock a “buy” rating in a report on Friday, July 21st. BMO Capital Markets restated a “buy” rating and issued a $33.00 price objective on shares of Enterprise Products Partners L.P. in a report on Wednesday, July 12th. Jefferies Group LLC decreased their price objective on shares of Enterprise Products Partners L.P. from $33.00 to $30.00 and set a “buy” rating for the company in a report on Friday, September 1st. Finally, BidaskClub upgraded shares of Enterprise Products Partners L.P. from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Enterprise Products Partners L.P. has a consensus rating of “Buy” and a consensus target price of $30.99.
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Enterprise Products Partners L.P. 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.
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