Enterprise Products Partners (NYSE:EPD) Trading 0.4% Higher Following Analyst Upgrade

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price was up 0.4% during mid-day trading on Thursday after Truist Financial raised their price target on the stock from $33.00 to $35.00. Truist Financial currently has a buy rating on the stock. Enterprise Products Partners traded as high as $27.90 and last traded at $27.85. Approximately 748,403 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 4,969,707 shares. The stock had previously closed at $27.74.

Several other analysts also recently issued reports on the company. StockNews.com upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 9th. Stifel Nicolaus upped their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Wells Fargo & Company upped their price objective on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Barclays increased their target price on Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 26th. Finally, Scotiabank increased their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $32.75.

Hedge Funds Weigh In On Enterprise Products Partners

Large investors have recently modified their holdings of the company. Accordant Advisory Group Inc acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at about $26,000. Burkett Financial Services LLC acquired a new stake in shares of Enterprise Products Partners in the fourth quarter valued at about $28,000. Stephens Consulting LLC acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at about $29,000. Palisade Asset Management LLC acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at about $29,000. Finally, Rational Advisors LLC acquired a new stake in shares of Enterprise Products Partners in the third quarter valued at about $43,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Trading Up 0.2 %

The business has a 50 day moving average price of $28.64 and a 200-day moving average price of $27.35. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The firm has a market cap of $60.93 billion, a price-to-earnings ratio of 11.02 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. Enterprise Products Partners had a return on equity of 19.75% and a net margin of 10.76%. The firm had revenue of $14.76 billion during the quarter, compared to analyst estimates of $13.82 billion. During the same quarter last year, the firm earned $0.64 EPS. Enterprise Products Partners’s quarterly revenue was up 18.6% on a year-over-year basis. As a group, research analysts expect that Enterprise Products Partners L.P. will post 2.67 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be paid a dividend of $0.515 per share. The ex-dividend date is Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a yield of 7.33%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.78%.

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.