30 Growing Dividend Stocks with Low PE Ratios

4. Enterprise Products Partners L.P. (NYSE:EPD)

Forward P/E Ratio as of April 22: 10.20

Enterprise Products Partners L.P. (NYSE:EPD) ranks fourth on our list of the best growing dividend stocks with low P/E ratios. The Texas-based midstream energy company operates an extensive portfolio of infrastructure for natural gas, crude oil, and pipelines. Its assets include pipelines, storage facilities, and systems for processing and transportation. The company’s revenue primarily comes from usage fees, making its performance more dependent on energy demand than on commodity price changes. Given the essential nature of energy, demand remains steady despite broader global conditions.

In the fourth quarter of 2024, Enterprise Products Partners L.P. (NYSE:EPD) reported revenue of $14.2 billion, exceeding analyst expectations by $74.5 million. The company generated $1.9 billion in operating income and posted a net income of $1.63 billion.

Enterprise Products Partners L.P. (NYSE:EPD)’s operating cash flow was robust, exceeding $2.3 billion, with adjusted free cash flow reaching $336 million for the quarter. This strong financial performance supported the company’s announcement of its 27th consecutive year of dividend growth in January 2025. It offers a quarterly dividend of $0.535 per share and has a dividend yield of 6.97%, as recorded on April 22.