Enterprise Products Partners (NYSE:EPD) Trading Up 0.1% – Here’s What Happened

Enterprise Products Partners L.P. (NYSE:EPD)’s share price was up 0.1% during mid-day trading on Tuesday . The stock traded as high as $31.62 and last traded at $31.53. Approximately 588,759 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 4,291,541 shares. The stock had previously closed at $31.49.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Bank of America assumed coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price target for the company. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Truist Financial increased their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Enterprise Products Partners presently has an average rating of “Buy” and a consensus price target of $34.00.

Enterprise Products Partners Price Performance

The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The company’s fifty day simple moving average is $29.60 and its two-hundred day simple moving average is $29.13. The stock has a market capitalization of $68.90 billion, a PE ratio of 11.90, a P/E/G ratio of 1.63 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. During the same quarter last year, the business posted $0.60 earnings per share. The business’s revenue was up 14.8% compared to the same quarter last year. As a group, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 6.61%. Enterprise Products Partners’s dividend payout ratio is currently 78.65%.

Institutional Investors Weigh In On Enterprise Products Partners

Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in shares of Enterprise Products Partners during the first quarter valued at approximately $212,000. O Shaughnessy Asset Management LLC raised its stake in shares of Enterprise Products Partners by 19.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock valued at $685,000 after purchasing an additional 3,770 shares during the period. Lake Street Advisors Group LLC purchased a new stake in shares of Enterprise Products Partners during the first quarter valued at approximately $421,000. Natixis raised its stake in shares of Enterprise Products Partners by 144.9% during the first quarter. Natixis now owns 74,872 shares of the oil and gas producer’s stock valued at $2,185,000 after purchasing an additional 44,300 shares during the period. Finally, Freestone Capital Holdings LLC purchased a new stake in shares of Enterprise Products Partners during the first quarter valued at approximately $252,000. 26.07% of the stock is owned by institutional investors and hedge funds.

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.