Enterprise Products Partners (NYSE:EPD) Stock Price Up 0.7% – Here’s What Happened

Enterprise Products Partners L.P. (NYSE:EPD)’s share price was up 0.7% on Friday . The stock traded as high as $33.18 and last traded at $33.07. Approximately 856,111 shares traded hands during trading, a decline of 82% from the average daily volume of 4,772,387 shares. The stock had previously closed at $32.82.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on EPD. Scotiabank initiated coverage on Enterprise Products Partners in a research note on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price target for the company. Wells Fargo & Company downgraded shares of 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 cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Truist Financial upped 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. Finally, Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.70.

Enterprise Products Partners Trading Up 1.8 %

The firm has a market capitalization of $72.41 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The firm’s 50 day moving average is $32.85 and its 200 day moving average is $31.11.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. The company had revenue of $14.20 billion during 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 company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.72 EPS. Equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a $0.535 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.41%. Enterprise Products Partners’s dividend payout ratio (DPR) is 79.55%.

Institutional Trading of Enterprise Products Partners

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Verity & Verity LLC raised its holdings in shares of Enterprise Products Partners by 30.8% during the fourth quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock valued at $3,470,000 after acquiring an additional 26,032 shares during the period. Spinnaker Trust purchased a new position in Enterprise Products Partners during the 4th quarter worth approximately $280,000. FourThought Financial Partners LLC raised its stake in Enterprise Products Partners by 18.5% during the 4th quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer’s stock valued at $4,407,000 after purchasing an additional 21,970 shares during the period. Paragon Advisors LLC purchased a new stake in shares of Enterprise Products Partners in the third quarter valued at $2,628,000. Finally, FMR LLC boosted its position in shares of Enterprise Products Partners by 9.3% in the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after buying an additional 1,225,988 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

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.