Enterprise Products Partners (NYSE:EPD) Trading 0.3% Higher – What’s Next?

Enterprise Products Partners L.P. (NYSE:EPD) rose 0.3% during trading on Wednesday . The stock traded as high as $34.02 and last traded at $33.80. Approximately 771,892 shares changed hands during trading, a decline of 81% from the average daily volume of 4,120,837 shares. The stock had previously closed at $33.71.

Wall Street Analyst Weigh In

EPD has been the subject of several research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Truist Financial boosted their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Bank of America started coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective for the company. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Finally, Wells Fargo & Company downgraded 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 note on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Enterprise Products Partners currently has an average rating of “Moderate Buy” and an average price target of $34.60.

Enterprise Products Partners Stock Down 0.3 %

The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $72.85 billion, a P/E ratio of 12.60, a P/E/G ratio of 1.60 and a beta of 1.09. The business has a 50-day moving average price of $32.46 and a 200 day moving average price of $30.46.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The firm had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.60 earnings per share. On average, equities analysts expect that Enterprise Products Partners L.P. will post 2.67 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 6.37%. The ex-dividend date of this dividend is Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio is presently 78.65%.

Institutional Trading of Enterprise Products Partners

Several hedge funds and other institutional investors have recently bought and sold shares of EPD. Pathway Financial Advisers LLC raised its holdings in Enterprise Products Partners by 2,862.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after buying an additional 7,494,224 shares during the period. Barclays PLC raised its holdings in Enterprise Products Partners by 110.0% during the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock valued at $73,699,000 after buying an additional 1,326,010 shares during the period. International Assets Investment Management LLC increased its stake in Enterprise Products Partners by 2,854.1% in the third quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock worth $37,474,000 after purchasing an additional 1,243,741 shares during the period. FMR LLC increased its stake in 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 purchasing an additional 1,225,988 shares during the period. Finally, Merewether Investment Management LP purchased a new stake in Enterprise Products Partners in the third quarter worth $30,746,000. Hedge funds and other institutional investors 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.