Enterprise Products Partners (NYSE:EPD) Trading Up 1% – Here’s Why

Shares of Enterprise Products Partners L.P. (NYSE:EPD) traded up 1% on Monday . The company traded as high as $31.48 and last traded at $31.40. 542,660 shares traded hands during trading, a decline of 87% from the average session volume of 4,291,696 shares. The stock had previously closed at $31.09.

Analyst Upgrades and Downgrades

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

Enterprise Products Partners Stock Up 1.3 %

The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.68 and a current ratio of 1.07. The company has a market capitalization of $68.26 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 1.60 and a beta of 1.04. The company’s fifty day moving average is $29.44 and its 200-day moving average is $29.07.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. During the same period last year, the business earned $0.60 earnings per share. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, analysts predict that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued 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 yield of 6.67%. Enterprise Products Partners’s payout ratio is presently 78.65%.

Institutional Trading of Enterprise Products Partners

Several institutional investors have recently added to or reduced their stakes in EPD. Hantz Financial Services Inc. purchased a new stake in shares of Enterprise Products Partners in the second quarter valued at approximately $25,000. Mascoma Wealth Management LLC purchased a new stake in shares of Enterprise Products Partners in the 2nd quarter worth $29,000. DiNuzzo Private Wealth Inc. grew its position in shares of Enterprise Products Partners by 1,000.0% during the 3rd 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 in the last quarter. Assetmark Inc. increased its stake in shares of Enterprise Products Partners by 19,800.0% during the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after buying an additional 1,188 shares during the period. Finally, Sanctuary Wealth Management L.L.C. purchased a new position in shares of Enterprise Products Partners during the third quarter valued at $36,000. Institutional investors own 26.07% of the company’s stock.

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.