<PAGE> PAGE 1
000 B000000 10/31/99
000 C000000 0000803191
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 PRUDENTIAL EQUITY INCOME FUND
001 B000000 811-4864
001 C000000 9733677525
002 A000000 GATEWAY CENTER THREE
002 B000000 NEWARK
002 C000000 NJ
002 D010000 07102
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A000001 THE PRUDENTIAL INVESTMENT CORPORATION
008 B000001 S
008 C000001 801-22808
008 D010001 NEWARK
008 D020001 NJ
008 D030001 07101
008 A000002 PRUDENTIAL INVESTMENTS FUND MANAGEMENT LLC
008 B000002 A
008 C000002 801-31104
008 D010002 NEWARK
008 D020002 NJ
008 D030002 07102
010 A000001 PRUDENTIAL INVESTMENTS FUND MANAGEMENT LLC
010 B000001 801-31104
010 C010001 NEWARK
010 C020001 NJ
010 C030001 07102
011 A000001 PRUDENTIAL INVESTMENT MANAGEMENT SERVICES LLC
011 B000001 8-27154
<PAGE> PAGE 2
011 C010001 NEW YORK
011 C020001 NY
011 C030001 10292
012 A000001 PRUDENTIAL MUTUAL FUND SERVICES LLC
012 B000001 84-4110019
012 C010001 NEW BRUNSWICK
012 C020001 NJ
012 C030001 08906
013 A000001 PRICEWATERHOUSECOOPERS LLP
013 B010001 NEW YORK
013 B020001 NY
013 B030001 10036
014 A000001 PRUDENTIAL SECURITIES INCORPORATED
014 B000001 8-27154
014 A000002 PRUCO SECURITIES CORP.
014 B000002 8-16402
014 A000003 PRUDENTIAL INVESTMENT MANAGEMENT SERVICES LLC
014 B000003 8-27154
015 A000001 STATE STREET BANK & TRUST CO.
015 B000001 C
015 C010001 NORTH QUINCY
015 C020001 MA
015 C030001 02171
015 E010001 X
015 A000002 CITIBANK, N.A.
015 B000002 S
015 C010002 BUENOS AIRES
015 D010002 ARGENTINA
015 E040002 X
015 A000003 WESTPAC BANKING CORPORATION
015 B000003 S
015 C010003 SYDNEY
015 D010003 AUSTRALIA
015 E040003 X
015 A000004 ERSTE BANK DER OESTERREICHISCHEN SPARKASSEN A
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015 D010004 AUSTRIA
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015 B000005 S
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015 D010005 BANGLADESH
015 E040005 X
015 A000006 GENERALE DE BANK
015 B000006 S
015 C010006 BRUSSELS
015 D010006 BELGIUM
015 E040006 X
015 A000007 CITIBANK, N.A.
015 B000007 S
<PAGE> PAGE 3
015 C010007 SAO PAULO
015 D010007 BRAZIL
015 E040007 X
015 A000008 CANADA TRUSTCO MORTGAGE COMPANY
015 B000008 S
015 C010008 TORONTO
015 D010008 CANADA
015 E040008 X
015 A000009 CITIBANK, N.A.
015 B000009 S
015 C010009 SANTIAGO
015 D010009 CHILE
015 E040009 X
015 A000010 THE HONGKONG AND SHANGHAI BANKING CORPORATION
015 B000010 S
015 C010010 SHANGHAI
015 D010010 CHINA
015 E040010 X
015 A000011 CITITRUST COLUMBIA S.A. SOCIEDAD FIDUCIARIA
015 B000011 S
015 C010011 BOGOTA
015 D010011 COLUMBIA
015 E040011 X
015 A000012 BARCLAYS BANK PLC SYPRUS OFFSHORE BANKING
015 B000012 S
015 C010012 NICOSIA
015 D010012 CYPRUS
015 E040012 X
015 A000013 CESKOSLOVENSKA OBCHODNI BANKA A.S.
015 B000013 S
015 C010013 PRAGUE
015 D010013 CZECH REPUBLIC
015 E040013 X
015 A000014 DEN DANSKE BANK
015 B000014 S
015 C010014 OPENHAGEN
015 D010014 DENMARK
015 E040014 X
015 A000015 CITIBANK, N.A.
015 B000015 S
015 C010015 QUITO
015 D010015 ECUADOR
015 E040015 X
015 A000016 NATIONAL BANK OF EGYPT
015 B000016 S
015 C010016 CAIRO
015 D010016 EGYPT
015 E040016 X
015 A000017 MERITA BANK LIMITED
015 B000017 S
015 C010017 HELSINKI
<PAGE> PAGE 4
015 D010017 FINLAND
015 E040017 X
015 A000018 BANQUE PARIBAS
015 B000018 S
015 C010018 PARIS
015 D010018 FRANCE
015 E040018 X
015 A000019 DRESDNER BANK AG
015 B000019 S
015 C010019 FRNAKFURT
015 D010019 GERMANY
015 E040019 X
015 A000020 BARCLAYS BANK OF GHANA LIMITED
015 B000020 S
015 C010020 ACCRA
015 D010020 GHANA
015 E040020 X
015 A000021 NATIONAL BANK OF GREECE S.A.
015 B000021 S
015 C010021 ATHENS
015 D010021 GREECE
015 E040021 X
015 A000022 STANDARD CHARTERED BANK
015 B000022 S
015 C010022 HONG KONG
015 D010022 HONG KONG
015 E040022 X
015 A000023 CITIBANK BUDAPEST RT.
015 B000023 S
015 C010023 BUDAPEST
015 D010023 HUNGARY
015 E040023 X
015 A000024 THE HONG KONG AND SHANGHAI BANKING CORP LIMIE
015 B000024 S
015 C010024 MUMBAI
015 D010024 INDIA
015 E040024 X
015 A000025 DEUTSCHE BANK AG
015 B000025 S
015 C010025 MUMBAI
015 D010025 INDIA
015 E040025 X
015 A000026 STANDARD CHARTERED BANK
015 B000026 S
015 C010026 JAKARTA
015 D010026 INDONESIA
015 E040026 X
015 A000027 BANK OF IRELAND
015 B000027 S
015 C010027 DUBLIN
015 D010027 IRELAND
<PAGE> PAGE 5
015 E040027 X
015 A000028 BANK HAPOALIM B.M.
015 B000028 S
015 C010028 TEL AVIV
015 D010028 ISRAEL
015 E040028 X
015 A000029 PARIBAS SA
015 B000029 S
015 C010029 MILAN
015 D010029 ITALY
015 E040029 X
015 A000030 SOCIETE GENERALE DE BANQUES EN COTE D IVOIRE
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015 C010030 ABIDJAN
015 D010030 IVORY COAST
015 E040030 X
015 A000031 THE FUJI BANK, LTD.
015 B000031 S
015 C010031 TOKYO
015 D010031 JAPAN
015 E040031 X
015 A000032 THE SUMITOMO BANK, LTD.
015 B000032 S
015 C010032 TOKYO
015 D010032 JAPAN
015 E040032 X
015 A000033 DELETE
015 A000034 THE BRITISH BANK OF THE MIDDLE EAST
015 B000034 S
015 C010034 AMMAN
015 D010034 JORDAN
015 E040034 X
015 A000035 BARCLAYS BANK OF KENYA LIMITED
015 B000035 S
015 C010035 NAIROBI
015 D010035 KENYA
015 E040035 X
015 A000036 THE HONG KONG AND SHANGHAI BANKING CORP. LTD.
015 B000036 S
015 C010036 SEOUL
015 D010036 KOREA
015 E040036 X
015 A000037 THE BRITISH BANK OF THE MIDDLE EAST
015 B000037 S
015 C010037 BEIRUT
015 D010037 LEBANON
015 E040037 X
015 A000038 STANDARD CHARTERED BANK MALAYSIA BERHAD
015 B000038 S
015 C010038 KUALA LUMPUR
015 D010038 MALAYSIA
<PAGE> PAGE 6
015 E040038 X
015 A000039 CITIBANK MEXICO, S.A.
015 B000039 S
015 C010039 MEXICO CITY
015 D010039 MEXICO
015 E040039 X
015 A000040 BANQUE COMMERCIALE DU MAROC
015 B000040 S
015 C010040 CASABLANCA
015 D010040 MOROCCO
015 E040040 X
015 A000041 MEESPIERSON N.V.
015 B000041 S
015 C010041 AMSTERDAM
015 D010041 NETHERLANDS
015 E040041 X
015 A000042 ANZ BANKING GROUP (NEW ZEALAND) LIMITED
015 B000042 S
015 C010042 WELLINGTON
015 D010042 NEW ZEALAND
015 E040042 X
015 A000043 CHRISTIANIA BANK OG KREDITKASSE
015 B000043 S
015 C010043 OSLO
015 D010043 NORWAY
015 E040043 X
015 A000044 DEUTSCHE BANK AG
015 B000044 S
015 C010044 KARACHI
015 D010044 PAKISTAN
015 E040044 X
015 A000045 CITIBANK, N.A.
015 B000045 S
015 C010045 LIMA
015 D010045 PERU
015 E040045 X
015 A000046 STANDARD CHARTERED BANK
015 B000046 S
015 C010046 MANILA
015 D010046 PHILIPPINES
015 E040046 X
015 A000047 CITIBANK (POLAND) SA
015 B000047 S
015 C010047 WARSAW
015 D010047 POLAND
015 E040047 X
015 A000048 BANCO COMERCIAL PORTUGUESE
015 B000048 S
015 C010048 LISBON
015 D010048 PORTUGAL
015 E040048 X
<PAGE> PAGE 7
015 A000049 CREDIT SUISSE FIRST BOSTON AO, MOSCOW
015 B000049 S
015 C010049 MOSCOW
015 D010049 RUSSIA
015 E040049 X
015 A000050 THE DEVELOPMENT BANK OF SINGAPORE LTD.
015 B000050 S
015 C010050 SINGAPORE
015 D010050 SINGAPORE
015 E040050 X
015 A000051 CEKOSLOVENSKA OBCHODNA BANKA, AS
015 B000051 S
015 C010051 BRATISLAVA
015 D010051 SLOVAK REPUBLIC
015 E040051 X
015 A000052 STANDARD BANK OF SOUTH AFRICA LTD
015 B000052 S
015 C010052 JOHANNESBURG
015 D010052 SOUTH AFRICA
015 E040052 X
015 A000053 BANCO SANTANDER, S.A
015 B000053 S
015 C010053 MADRID
015 D010053 SPAIN
015 E040053 X
015 A000054 THE HONKONG AND SHANGHAI BANKING CORPORATION
015 B000054 S
015 C010054 COLOMBO
015 D010054 SRI LANKA
015 E040054 X
015 A000055 SKANDINAVISKA ENSDILDA BANKEN
015 B000055 S
015 C010055 STOCKHOLM
015 D010055 SWEDEN
015 E040055 X
015 A000056 UNION BANK OF SWITZERLAND AG
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015 C010056 ZURICH
015 D010056 SWITZERLAND
015 E040056 X
015 A000057 CENTRAL TRUST OF CHINA
015 B000057 S
015 C010057 TAIPEI
015 D010057 TAIWAN
015 E040057 X
015 A000058 STANDARD CHARTERED BANK
015 B000058 S
015 C010058 BANGKOK
015 D010058 THAILAND
015 E040058 X
015 A000059 CITIBANK, N.A.
<PAGE> PAGE 8
015 B000059 S
015 C010059 ISTANBUL
015 D010059 TURKEY
015 E040059 X
015 A000060 STATE STREET BANK AND TRUST COMPANY
015 B000060 S
015 C010060 LONDON
015 D010060 UNITED KINGDOM
015 E040060 X
015 A000061 CITIBANK, N.A.
015 B000061 S
015 C010061 MONTEVIDEO
015 D010061 URUGUAY
015 E040061 X
015 A000062 CITIBANK, N.A.
015 B000062 S
015 C010062 CARACAS
015 D010062 VENEZUELA
015 E040062 X
018 000000 Y
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019 C000000 PRUDENTIAL
020 A000001 PAINEWEBBER INCORPORATED
020 B000001 13-2638166
020 C000001 183
020 A000002 CANTOR FITZGERALD & CO.
020 B000002 13-3680184
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020 B000006 13-3299429
020 C000006 92
020 A000007 CREDIT SUISSE FIRST BOSTON CORP.
020 B000007 13-5659485
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020 B000008 13-3224016
020 C000008 87
020 A000009 SALOMON SMITH BARNEY INC.
020 B000009 13-1912900
020 C000009 85
020 A000010 PRUDENTIAL SECURITIES INCORPORATED
<PAGE> PAGE 9
020 B000010 22-2347336
020 C000010 81
021 000000 1787
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022 C000001 886585
022 D000001 74
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022 C000002 583851
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022 C000003 526319
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022 C000004 432231
022 D000004 0
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022 C000005 267788
022 D000005 0
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022 B000006 13-5659485
022 C000006 184209
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022 B000007 13-3224016
022 C000007 157338
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022 C000008 135067
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022 C000009 30024
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022 C000010 21022
022 D000010 8442
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025 A000001 LEHMAN BROTHERS INC.
025 B000001 13-2518466
025 C000001 E
025 D000001 113914
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<PAGE> PAGE 10
025 B000002 13-2638166
025 C000002 E
025 D000002 53435
025 A000003 BEAR, STEARNS & CO. INC.
025 B000003 13-3299429
025 C000003 E
025 D000003 42517
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025 B000004 13-3299429
025 C000004 D
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025 B000005 13-3224016
025 C000005 D
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025 A000006 SALOMON SMITH BARNEY INC.
025 B000006 13-1912900
025 C000006 D
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025 A000007 GOLDMAN, SACHS & CO.
025 B000007 13-5108880
025 C000007 D
025 D000007 2922
025 D000008 0
026 A000000 N
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027 000000 Y
028 A010000 31552
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<PAGE> PAGE 11
028 E020000 6521
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<PAGE> PAGE 12
048 E010000 0
048 E020000 0.000
048 F010000 0
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049 000000 N
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054 K000000 N
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058 A000000 N
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<PAGE> PAGE 13
062 I000000 0.0
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070 C020000 N
070 D010000 Y
070 D020000 N
070 E010000 N
070 E020000 N
070 F010000 Y
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 Y
070 K010000 Y
070 K020000 N
070 L010000 Y
070 L020000 N
070 M010000 Y
070 M020000 N
070 N010000 Y
070 N020000 Y
<PAGE> PAGE 14
070 O010000 Y
070 O020000 N
070 P010000 Y
070 P020000 N
070 Q010000 N
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070 R010000 N
070 R020000 N
071 A000000 340764
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<PAGE> PAGE 15
074 C000000 112545
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<PAGE> PAGE 16
080 A000000 ICI MUTUAL INSURANCE COMPANY
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SIGNATURE GRACE TORRES
TITLE TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000803191
<NAME> PRUDENTIAL EQUITY INCOME FUND, INC.
<SERIES>
<NUMBER> 001
<NAME> EQUITY INCOME FUND (CLASS A)
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> Oct-31-1999
<PERIOD-END> Oct-31-1999
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<SHARES-COMMON-STOCK> 99,319,068
<SHARES-COMMON-PRIOR> 104,323,636
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 208,488,456
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 140,006,273
<NET-ASSETS> (203,642,704)
<DIVIDEND-INCOME> 53,601,878
<INTEREST-INCOME> 1,944,518
<OTHER-INCOME> 411,204
<EXPENSES-NET> 29,781,251
<NET-INVESTMENT-INCOME> 26,176,349
<REALIZED-GAINS-CURRENT> 216,506,120
<APPREC-INCREASE-CURRENT> (142,075,336)
<NET-CHANGE-FROM-OPS> 100,607,133
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (26,176,349)
<DISTRIBUTIONS-OF-GAINS> (120,263,747)
<DISTRIBUTIONS-OTHER> (3,073,884)
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<NUMBER-OF-SHARES-REDEEMED> (908,444,366)
<SHARES-REINVESTED> 138,241,458
<NET-CHANGE-IN-ASSETS> (323,386,368)
<ACCUMULATED-NII-PRIOR> (2,517,956)
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<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 10,287,851
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 29,781,251
<AVERAGE-NET-ASSETS> 653,798,000
<PER-SHARE-NAV-BEGIN> 18.63
<PER-SHARE-NII> 0.33
<PER-SHARE-GAIN-APPREC> 0.58
<PER-SHARE-DIVIDEND> (0.33)
<PER-SHARE-DISTRIBUTIONS> (1.09)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 18.12
<EXPENSE-RATIO> 1.02
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000803191
<NAME> PRUDENTIAL EQUITY INCOME FUND, INC.
<SERIES>
<NUMBER> 002
<NAME> EQUITY INCOME FUND (CLASS B)
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> Oct-31-1999
<PERIOD-END> Oct-31-1999
<INVESTMENTS-AT-COST> 1,774,050,811
<INVESTMENTS-AT-VALUE> 1,914,057,959
<RECEIVABLES> 4,652,238
<ASSETS-OTHER> 70,611
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 2,877,737
<SENIOR-LONG-TERM-DEBT> 112,051,950
<OTHER-ITEMS-LIABILITIES> 7,822,819
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,447,533,573
<SHARES-COMMON-STOCK> 99,319,068
<SHARES-COMMON-PRIOR> 104,323,636
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 208,488,456
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 140,006,273
<NET-ASSETS> (203,642,704)
<DIVIDEND-INCOME> 53,601,878
<INTEREST-INCOME> 1,944,518
<OTHER-INCOME> 411,204
<EXPENSES-NET> 29,781,251
<NET-INVESTMENT-INCOME> 26,176,349
<REALIZED-GAINS-CURRENT> 216,506,120
<APPREC-INCREASE-CURRENT> (142,075,336)
<NET-CHANGE-FROM-OPS> 100,607,133
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (26,176,349)
<DISTRIBUTIONS-OF-GAINS> (120,263,747)
<DISTRIBUTIONS-OTHER> (3,073,884)
<NUMBER-OF-SHARES-SOLD> 495,723,387
<NUMBER-OF-SHARES-REDEEMED> (908,444,366)
<SHARES-REINVESTED> 138,241,458
<NET-CHANGE-IN-ASSETS> (323,386,368)
<ACCUMULATED-NII-PRIOR> (2,517,956)
<ACCUMULATED-GAINS-PRIOR> 125,515,409
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 10,287,851
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 29,781,251
<AVERAGE-NET-ASSETS> 1,200,663,000
<PER-SHARE-NAV-BEGIN> 18.57
<PER-SHARE-NII> 0.19
<PER-SHARE-GAIN-APPREC> 0.58
<PER-SHARE-DIVIDEND> (0.19)
<PER-SHARE-DISTRIBUTIONS> (1.09)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 18.06
<EXPENSE-RATIO> 1.77
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000803191
<NAME> PRUDENTIAL EQUITY INCOME FUND, INC.
<SERIES>
<NUMBER> 003
<NAME> EQUITY INCOME FUND (CLASS C)
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> Oct-31-1999
<PERIOD-END> Oct-31-1999
<INVESTMENTS-AT-COST> 1,774,050,811
<INVESTMENTS-AT-VALUE> 1,914,057,959
<RECEIVABLES> 4,652,238
<ASSETS-OTHER> 70,611
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 2,877,737
<SENIOR-LONG-TERM-DEBT> 112,051,950
<OTHER-ITEMS-LIABILITIES> 7,822,819
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,447,533,573
<SHARES-COMMON-STOCK> 99,319,068
<SHARES-COMMON-PRIOR> 104,323,636
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 208,488,456
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 140,006,273
<NET-ASSETS> (203,642,704)
<DIVIDEND-INCOME> 53,601,878
<INTEREST-INCOME> 1,944,518
<OTHER-INCOME> 411,204
<EXPENSES-NET> 29,781,251
<NET-INVESTMENT-INCOME> 26,176,349
<REALIZED-GAINS-CURRENT> 216,506,120
<APPREC-INCREASE-CURRENT> (142,075,336)
<NET-CHANGE-FROM-OPS> 100,607,133
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (26,176,349)
<DISTRIBUTIONS-OF-GAINS> (120,263,747)
<DISTRIBUTIONS-OTHER> (3,073,884)
<NUMBER-OF-SHARES-SOLD> 495,723,387
<NUMBER-OF-SHARES-REDEEMED> (908,444,366)
<SHARES-REINVESTED> 138,241,458
<NET-CHANGE-IN-ASSETS> (323,386,368)
<ACCUMULATED-NII-PRIOR> (2,517,956)
<ACCUMULATED-GAINS-PRIOR> 125,515,409
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 10,287,851
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 29,781,251
<AVERAGE-NET-ASSETS> 36,981,000
<PER-SHARE-NAV-BEGIN> 18.57
<PER-SHARE-NII> 0.19
<PER-SHARE-GAIN-APPREC> 0.58
<PER-SHARE-DIVIDEND> (0.19)
<PER-SHARE-DISTRIBUTIONS> (1.09)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 18.06
<EXPENSE-RATIO> 1.77
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000803191
<NAME> PRUDENTIAL EQUITY INCOME FUND, INC.
<SERIES>
<NUMBER> 004
<NAME> EQUITY INCOME FUND (CLASS Z)
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> Oct-31-1999
<PERIOD-END> Oct-31-1999
<INVESTMENTS-AT-COST> 1,774,050,811
<INVESTMENTS-AT-VALUE> 1,914,057,959
<RECEIVABLES> 4,652,238
<ASSETS-OTHER> 70,611
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 2,877,737
<SENIOR-LONG-TERM-DEBT> 112,051,950
<OTHER-ITEMS-LIABILITIES> 7,822,819
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,447,533,573
<SHARES-COMMON-STOCK> 99,319,068
<SHARES-COMMON-PRIOR> 104,323,636
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 208,488,456
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 140,006,273
<NET-ASSETS> (203,642,704)
<DIVIDEND-INCOME> 53,601,878
<INTEREST-INCOME> 1,944,518
<OTHER-INCOME> 411,204
<EXPENSES-NET> 29,781,251
<NET-INVESTMENT-INCOME> 26,176,349
<REALIZED-GAINS-CURRENT> 216,506,120
<APPREC-INCREASE-CURRENT> (142,075,336)
<NET-CHANGE-FROM-OPS> 100,607,133
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (26,176,349)
<DISTRIBUTIONS-OF-GAINS> (120,263,747)
<DISTRIBUTIONS-OTHER> (3,073,884)
<NUMBER-OF-SHARES-SOLD> 495,723,387
<NUMBER-OF-SHARES-REDEEMED> (908,444,366)
<SHARES-REINVESTED> 138,241,458
<NET-CHANGE-IN-ASSETS> (323,386,368)
<ACCUMULATED-NII-PRIOR> (2,517,956)
<ACCUMULATED-GAINS-PRIOR> 125,515,409
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 10,287,851
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 29,781,251
<AVERAGE-NET-ASSETS> 144,747,000
<PER-SHARE-NAV-BEGIN> 18.64
<PER-SHARE-NII> 0.38
<PER-SHARE-GAIN-APPREC> 0.58
<PER-SHARE-DIVIDEND> (0.38)
<PER-SHARE-DISTRIBUTIONS> (1.09)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 18.13
<EXPENSE-RATIO> 0.77
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.00
</TABLE>
For the fiscal year ended October 31, 1999.
File number: 811-4864
SUB-ITEM 77-0
EXHIBITS
Transactions Effected Pursuant to
Rule 10f-3
I. Prudential Equity Income Fund
1. Name of Issuer
Goldman, Sachs & Co.
2. Date of Purchase
5/3/1999
3. Number of Securities Purchased
78,600
4. Dollar Amount of Purchase
$4,165,800
5. Price Per Unit
$53.00
6. Name(s) of Underwriter(s) or Dealer(s)
From whom Purchased
Goldman Sachs & Co.
7. Other members of the Underwriting
Syndicate
Goldman Sachs & Co.
Bear Sterns & Co., Inc
Credit Suisse First Boston Corporation
Donaldson, Lufkin & Jenrette Securities
Lehman Brothers Inc.
Merrill Lynch, Pierce, Fenner & Smith
J.P. Morgan Securities Inc.
Morgan Stanley & Co, Inc.
PaineWebber Incorporated
Prudential Securities Incorporated
Salomon Smith Barney Inc.
Sanford C. Bernstein & Co., Inc.
Schroder & Co., Inc.
T: \george\N-SAR\EIF\12-99\770.doc
To the Shareholders and Board of Trustees of
Prudential Equity Income Fund
(2)
Report of Independent Accountants
To the Shareholders and Board of Trustees of
Prudential Equity Income Fund
In planning and performing our audit of the
financial statements of Prudential Equity
Income Fund (the "Fund") for the year ended
October 31, 1999, we considered its internal
control, including control activities for
safeguarding securities, in order to
determine our auditing procedures for the
purpose of expressing our opinion on the
financial statements and to comply with the
requirements of Form N-SAR, not to provide
assurance on internal control.
The management of the Fund is responsible
for establishing and maintaining internal
control. In fulfilling this responsibility,
estimates and judgments by management are
required to assess the expected benefits and
related costs of controls. Generally,
controls that are relevant to an audit
pertain to the entity's objective of
preparing financial statements for external
purposes that are fairly presented in
conformity with generally accepted
accounting principles. Those controls
include the safeguarding of assets against
unauthorized acquisition, use or
disposition.
Because of inherent limitations in internal
control, errors or fraud may occur and not
be detected. Also, projection of any
evaluation of internal control to future
periods is subject to the risk that controls
may become inadequate because of changes in
conditions or that the effectiveness of the
design and operation may deteriorate.
Our consideration of internal control would
not necessarily disclose all matters in
internal control that might be material
weaknesses under standards established by
the American Institute of Certified Public
Accountants. A material weakness is a
condition in which the design or operation
of one or more of the internal control
components does not reduce to a relatively
low level the risk that misstatements caused
by error or fraud in amounts that would be
material in relation to the financial
statements being audited may occur and not
be detected within a timely period by
employees in the normal course of performing
their assigned functions. However, we noted
no matters involving internal control and
its operation, including controls for
safeguarding securities, that we consider to
be material weaknesses as defined above as
of October 31, 1999.
This report is intended solely for the
information and use of the Board of
Trustees, management and the Securities and
Exchange Commission and is not intended to
be and should not be used by anyone other
than these specified parties.
PricewaterhouseCoopers LLP
December 20, 1999
