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

Enterprise Products Partners L.P. (NYSE:EPD) rose 0.1% on Thursday . The company traded as high as $33.20 and last traded at $33.19. Approximately 1,051,954 shares were traded during trading, a decline of 78% from the average daily volume of 4,786,786 shares. The stock had previously closed at $33.14.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a report on Wednesday, December 18th. Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Truist Financial boosted their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Scotiabank started coverage on Enterprise Products Partners in a report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price objective on the stock. Finally, Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Enterprise Products Partners has an average rating of “Moderate Buy” and an average price target of $34.70.

Enterprise Products Partners Stock Down 0.9 %

The company’s fifty day simple moving average is $32.76 and its 200 day simple moving average is $31.04. The firm has a market capitalization of $71.19 billion, a P/E ratio of 12.21, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.05. The company had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.72 EPS. Research analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.535 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a yield of 6.52%. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners’s payout ratio is presently 79.55%.

Institutional Investors Weigh In On Enterprise Products Partners

Institutional investors have recently modified their holdings of the business. Patriot Financial Group Insurance Agency LLC boosted its position in Enterprise Products Partners by 5.8% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 10,555 shares of the oil and gas producer’s stock worth $307,000 after purchasing an additional 581 shares during the last quarter. Hunter Associates Investment Management LLC bought a new position in shares of Enterprise Products Partners in the third quarter worth about $228,000. Integrated Advisors Network LLC lifted its position in shares of Enterprise Products Partners by 55.3% during the 3rd quarter. Integrated Advisors Network LLC now owns 30,878 shares of the oil and gas producer’s stock valued at $899,000 after buying an additional 10,994 shares in the last quarter. Fidelis Capital Partners LLC grew its stake in shares of Enterprise Products Partners by 1.6% during the 3rd quarter. Fidelis Capital Partners LLC now owns 37,374 shares of the oil and gas producer’s stock valued at $1,083,000 after acquiring an additional 598 shares during the period. Finally, Mutual Advisors LLC increased its holdings in Enterprise Products Partners by 1.0% in the 3rd quarter. Mutual Advisors LLC now owns 186,487 shares of the oil and gas producer’s stock worth $5,414,000 after acquiring an additional 1,935 shares in the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

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.