Enterprise Products Partners (NYSE:EPD) Trading 0.2% Higher – Here’s What Happened

Enterprise Products Partners L.P. (NYSE:EPD)’s share price traded up 0.2% during mid-day trading on Thursday . The company traded as high as $34.32 and last traded at $34.07. 909,901 shares were traded during mid-day trading, a decline of 78% from the average session volume of 4,122,369 shares. The stock had previously closed at $34.00.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Truist Financial boosted their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Wells Fargo & Company cut 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 research report on Wednesday, December 18th. Scotiabank upped their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 6th. Barclays upped their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Finally, Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Enterprise Products Partners presently has an average rating of “Moderate Buy” and an average target price of $35.90.

Enterprise Products Partners Price Performance

The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The stock has a market cap of $73.71 billion, a PE ratio of 12.66, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08. The stock’s fifty day moving average is $33.34 and its 200-day moving average is $31.49.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period last year, the firm posted $0.72 earnings per share. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, equities analysts anticipate 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 given a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 6.29%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 79.55%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of EPD. Caprock Group LLC purchased a new position in Enterprise Products Partners in the 3rd quarter valued at $1,943,000. BIP Wealth LLC purchased a new stake in shares of Enterprise Products Partners during the 3rd quarter worth $614,000. Avior Wealth Management LLC boosted its position in shares of Enterprise Products Partners by 46.2% during the 3rd quarter. Avior Wealth Management LLC now owns 17,409 shares of the oil and gas producer’s stock worth $507,000 after purchasing an additional 5,500 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Enterprise Products Partners by 0.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 82,871 shares of the oil and gas producer’s stock worth $2,412,000 after purchasing an additional 607 shares in the last quarter. Finally, Cedar Wealth Management LLC boosted its position in shares of Enterprise Products Partners by 2.8% during the 3rd quarter. Cedar Wealth Management LLC now owns 16,764 shares of the oil and gas producer’s stock worth $488,000 after purchasing an additional 450 shares in the last quarter. 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.