Shares of Enterprise Products Partners L.P. (NYSE:EPD – Get Free Report) rose 0.3% during mid-day trading on Monday . The stock traded as high as $29.53 and last traded at $29.39. Approximately 632,688 shares changed hands during trading, a decline of 86% from the average daily volume of 4,590,144 shares. The stock had previously closed at $29.29.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on EPD shares. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Truist Financial upped 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 note on Wednesday, July 31st. Morgan Stanley dropped their price objective on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Monday, June 10th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Thursday, May 16th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.08.
Enterprise Products Partners Stock Up 0.3 %
The company has a market cap of $63.82 billion, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 1.33 and a beta of 1.04. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.68 and a current ratio of 0.93. The stock’s fifty day moving average is $29.09 and its two-hundred day moving average is $28.62.
Enterprise Products Partners (NYSE:EPD – Get Free Report) last posted its quarterly earnings data 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 company 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 20.18% and a net margin of 10.48%. The business’s quarterly revenue was up 26.6% on a year-over-year basis. During the same quarter last year, the business posted $0.57 EPS. Sell-side analysts predict that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal year.
Enterprise Products Partners Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were paid a dividend of $0.525 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date was Wednesday, July 31st. This represents a $2.10 annualized dividend and a yield of 7.15%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 82.35%.
Institutional Investors Weigh In On Enterprise Products Partners
A number of hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its position in Enterprise Products Partners by 31.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,591 shares of the oil and gas producer’s stock valued at $68,000 after purchasing an additional 614 shares during the last quarter. Signaturefd LLC lifted its stake in Enterprise Products Partners by 9.0% in the fourth quarter. Signaturefd LLC now owns 7,684 shares of the oil and gas producer’s stock worth $202,000 after acquiring an additional 632 shares during the period. Valmark Advisers Inc. bought a new stake in Enterprise Products Partners in the fourth quarter valued at $210,000. White Pine Capital LLC boosted its holdings in Enterprise Products Partners by 7.2% in the fourth quarter. White Pine Capital LLC now owns 13,716 shares of the oil and gas producer’s stock valued at $361,000 after acquiring an additional 921 shares in the last quarter. Finally, Transcend Capital Advisors LLC increased its position in Enterprise Products Partners by 9.4% during the 4th quarter. Transcend Capital Advisors LLC now owns 27,487 shares of the oil and gas producer’s stock valued at $724,000 after purchasing an additional 2,366 shares during the period. 26.07% of the stock is currently owned by 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.