EPD Announces A 3.3 Percent Increase In Its Quarterly Distribution -- January 7, 2022

Two links:

• EPD press release;
• SeekingAlpha;

Press release:

Enterprise Products Partners L.P. announced today that the board of directors of its general partner declared the quarterly cash distribution paid to limited partners holding Enterprise common units with respect to the fourth quarter of 2021 of $0.465 per unit, or $1.86 per unit on an annualized basis.

The quarterly distribution will be paid Friday, February 11, 2022, to common unitholders of record as of the close of business Monday, January 31, 2022. This distribution represents a 3.3 percent increase over the distribution declared with respect to the fourth quarter of 2020.

In addition, during the fourth quarter of 2021, Enterprise purchased $125 million of its common units in the open market, bringing the total amount of common unit buybacks during 2021 to $200 million. Including these repurchases, Enterprise has utilized 24 percent of its $2.0 billion buyback program authorized in January 2019.

Enterprise continues its history of consistently returning capital to its investors with 2021 marking twenty-three consecutive years of distribution growth. Enterprise will continue to evaluate opportunities to grow future cash distributions, invest in midstream infrastructure, opportunistically buy back common units and maintain a strong balance sheet.

Enterprise will announce its earnings for the fourth quarter of 2021 on Tuesday, February 1, 2022, before the New York Stock Exchange opens for trading. 

From the SeekingAlpha link:

This series of articles is intended to provide Elliott Wave and Fibonacci Pinball Analysis as accompaniment to Rida Morwa's High Dividend Opportunities (HDO) Service. Our goal is to provide greater context as to where price is within the trend for the opportunities being presented by Rida Morwa's High Dividend Opportunities (HDO) group. This will include support regions for potential entries and target regions for the bigger trend.

In this article we'll be providing analysis on Enterprise Products Partners.

In his December 13th article, "Swim in Cash With This Big Yield," Rida wrote:

"As an investment, EPD has been a reliable dividend company with 23 years of annual dividend growth under its belt. EPD has been able to manage the swings of the volatile energy industry through prudent balance sheet management. With a BBB+ credit rating, EPD has the highest credit rating in its sector. EPD has generously rewarded investors while also becoming fully self-funding."

Regarding being "self-funding," EPD is now in position to pay for its anticipated capex without issuing new equity or debt.

Considering that EPD often yields in the 6% range, the current yield of 7.95% as of the close 1/5/2022 offers an attractive entry.

And as of 1/6/2022, EPD announced a 3.3% increase in the dividend.