3 Stocks Going Ex-Dividend Tomorrow: EROC, CMLP, EEP

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer.

Tomorrow, Wednesday, May 06, 2015, 39 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.3% to 14.1%. All of these stocks can be found on our stocks going ex-dividend section of our dividend calendar.

Highlighted Stocks Going Ex-Dividend Tomorrow:

Eagle Rock Energy Partners

Owners of Eagle Rock Energy Partners (NASDAQ: EROC) shares, as of market close today, will be eligible for a dividend of 7 cents per share. At a price of $2.61 as of 9:31 a.m. ET, the dividend yield is 11.3%.

The average volume for Eagle Rock Energy Partners has been 411,900 shares per day over the past 30 days. Eagle Rock Energy Partners has a market cap of $373.3 million and is part of the energy industry. Shares are up 12.3% year-to-date as of the close of trading on Monday.

EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he thinks could be potential winners. Click here to see his holdings for 14-days FREE.

Crestwood Midstream Partners

Owners of Crestwood Midstream Partners (NYSE: CMLP) shares, as of market close today, will be eligible for a dividend of 41 cents per share. At a price of $15.72 as of 9:35 a.m. ET, the dividend yield is 10.3%.

The average volume for Crestwood Midstream Partners has been 699,100 shares per day over the past 30 days. Crestwood Midstream Partners has a market cap of $3.0 billion and is part of the energy industry. Shares are up 5.2% year-to-date as of the close of trading on Monday.

EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he thinks could be potential winners. Click here to see his holdings for 14-days FREE.

Crestwood Midstream Partners LP provides gathering, processing, storage, and transportation solutions to customers in the crude oil, natural gas liquids (NGL), and natural gas sectors of the energy industry in the United States.

TheStreet Ratings rates Crestwood Midstream Partners as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations and growth in earnings per share. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, poor profit margins and a generally disappointing performance in the stock itself. You can view the full Crestwood Midstream Partners Ratings Report now.

Enbridge Energy Partners

Owners of Enbridge Energy Partners (NYSE: EEP) shares, as of market close today, will be eligible for a dividend of 57 cents per share. At a price of $38.03 as of 9:33 a.m. ET, the dividend yield is 6.1%.

The average volume for Enbridge Energy Partners has been 776,000 shares per day over the past 30 days. Enbridge Energy Partners has a market cap of $9.6 billion and is part of the energy industry. Shares are down 5.7% year-to-date as of the close of trading on Monday.

EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he thinks could be potential winners. Click here to see his holdings for 14-days FREE.

Enbridge Energy Partners, L.P. owns and operates crude oil and liquid petroleum transportation and storage assets; and natural gas gathering, treating, processing, transportation, and marketing assets in the United States. It operates through two segments, Liquids and Natural Gas. The company has a P/E ratio of 50.19.

TheStreet Ratings rates Enbridge Energy Partners as a buy. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, expanding profit margins, good cash flow from operations and solid stock price performance. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full Enbridge Energy Partners Ratings Report now.

More About Dividends:

One benefit of owning a stock is the potential that you will be paid a dividend. The distribution of dividend payments is another way for a company to share its profit with you. A dividend means that the company pays you a certain amount of money, either as a one-time payment or more commonly on a quarterly basis, for each share of stock you own.

Many times, dividends come at the expense of greater price appreciation, because the company is distributing its profits to shareholders rather than reinvesting the profits back into the growth of the company. However, companies that pay dividends can be very attractive to investors when they offer a steady stream of income. There are some important terms and dates an investor should be familiar with before purchasing any dividend-paying companies. Let's work through an example to help better explain some of these terms:

On March 1, ABC Widget Company has decided that because it holds excess cash and lacks investment opportunities, it would like to reward shareholders with a regular quarterly dividend payment. The date for this particular announcement is known as the declaration date. It is on this date that the company announces the specific dividend payment along with the holder-of-record date (aka record date) and the payment date. The company announces that a dividend payment of 25 cents per share will be payable March 31, 2012 (the payment date) to all shareholders of record at the close of business on March 16, 2012 (holder-of-record date). What does this all mean? Well the short story is that the company looks at its records on March 16 and anyone listed on the books as an owner of ABC Widget company will be eligible for the dividend payment (on March 31).

The one other important term to remember is the ex-dividend date. The ex-dividend date (typically two trading days before the holder-of-record date for U.S. securities) is the day in which a company begins trading without the dividend. In order to have a claim on a dividend, shares must be purchased no later than the last business day before the ex-dividend date. A company trading ex-dividend will have the upcoming dividend subtracted from the share price at the start of the trading day. Many times, the price of a stock will increase in anticipation of the upcoming dividend as the ex-dividend date approaches, yet will fall back by the amount of the dividend on the ex-dividend date.

More from Markets

Tesla's Musk Has Serious Dell Envy; Hedge Funds Reveal Portfolio Changes - ICYMI

Tesla's Musk Has Serious Dell Envy; Hedge Funds Reveal Portfolio Changes - ICYMI

Rewind: Jim Cramer on Home Depot, Tapestry, Nordstrom and Square

Rewind: Jim Cramer on Home Depot, Tapestry, Nordstrom and Square

Cardlytics CEO: We Want to Get 5 Out of 5 Payments in the U.S.

Cardlytics CEO: We Want to Get 5 Out of 5 Payments in the U.S.

Stocks Post Solid Gains as Turkey Crisis Stabilizes

Stocks Post Solid Gains as Turkey Crisis Stabilizes

Tesla Competitor Nio Looks to IPO on NYSE

Tesla Competitor Nio Looks to IPO on NYSE