Enterprise Products Partners L.P. (NYSE:EPD) declared a quarterly dividend on Tuesday, July 9th, RTT News reports. Investors of record on Wednesday, July 31st will be paid a dividend of 0.44 per share by the oil and gas producer on Tuesday, August 13th. This represents a $1.76 dividend on an annualized basis and a yield of 5.83%. The ex-dividend date of this dividend is Tuesday, July 30th. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.44.

Enterprise Products Partners has raised its dividend by an average of 4.3% per year over the last three years and has raised its dividend every year for the last 20 years. Enterprise Products Partners has a dividend payout ratio of 104.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Enterprise Products Partners to earn $2.20 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 80.0%.

Shares of Enterprise Products Partners stock opened at $30.21 on Monday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.77 and a quick ratio of 0.58. The stock has a market capitalization of $66.12 billion, a PE ratio of 15.57, a PEG ratio of 3.55 and a beta of 0.89. Enterprise Products Partners has a 52-week low of $23.33 and a 52-week high of $30.86. The business has a 50-day moving average price of $29.44.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Wednesday, May 1st. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.09. The business had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $9.23 billion. Enterprise Products Partners had a net margin of 12.67% and a return on equity of 19.50%. The business’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.41 earnings per share. On average, research analysts forecast that Enterprise Products Partners will post 2.13 earnings per share for the current fiscal year.

Several research analysts have issued reports on EPD shares. Johnson Rice started coverage on shares of Enterprise Products Partners in a report on Thursday, May 30th. They issued a “buy” rating and a $35.00 target price for the company. Zacks Investment Research cut shares of Hollysys Automation Technologies from a “hold” rating to a “sell” rating in a report on Thursday, April 11th. Piper Jaffray Companies decreased their target price on shares of Inovio Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating for the company in a report on Wednesday, July 17th. Finally, Goldman Sachs Group reaffirmed a “buy” rating and issued a GBX 265 ($3.46) target price on shares of Tesco in a report on Tuesday, April 2nd. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Enterprise Products Partners presently has an average rating of “Buy” and a consensus price target of $33.60.

Enterprise Products Partners Company Profile

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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