Enterprise Products Partners (NYSE:EPD) Stock Price Up 0.1% – What’s Next?

Shares of Enterprise Products Partners L.P. (NYSE:EPD) were up 0.1% on Friday . The stock traded as high as $29.17 and last traded at $29.07. Approximately 758,763 shares traded hands during trading, a decline of 82% from the average daily volume of 4,269,785 shares. The stock had previously closed at $29.03.

Analysts Set New Price Targets

Several research analysts have recently weighed in on EPD shares. Bank of America started coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target on the stock. Truist Financial boosted their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Royal Bank of Canada boosted their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners has an average rating of “Buy” and an average target price of $33.73.

Enterprise Products Partners Stock Performance

The stock has a market capitalization of $63.04 billion, a PE ratio of 11.40, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. The firm’s fifty day moving average is $29.25 and its 200-day moving average is $28.95. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The business had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $14.23 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter last year, the company earned $0.57 earnings per share. As a group, research analysts anticipate that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.525 per share. The ex-dividend date is Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a yield of 7.23%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.35%.

Institutional Trading of Enterprise Products Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hantz Financial Services Inc. purchased a new stake in shares of Enterprise Products Partners during the second quarter worth approximately $25,000. Stephens Consulting LLC purchased a new stake in shares of Enterprise Products Partners during the first quarter worth approximately $29,000. Palisade Asset Management LLC purchased a new stake in shares of Enterprise Products Partners during the first quarter worth approximately $29,000. Mascoma Wealth Management LLC purchased a new stake in shares of Enterprise Products Partners during the second quarter worth approximately $29,000. Finally, DiNuzzo Private Wealth Inc. increased its stake in shares of Enterprise Products Partners by 1,000.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock worth $32,000 after buying an additional 1,000 shares during the period. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

About Enterprise Products Partners

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.