Shares of Enterprise Products Partners L.P. (NYSE:EPD – Get Free Report) dropped 0.8% during mid-day trading on Friday . The company traded as low as $33.03 and last traded at $33.25. Approximately 1,504,246 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 4,409,245 shares. The stock had previously closed at $33.51.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on EPD shares. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Wells Fargo & Company lowered Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a research note on Wednesday, December 18th. Truist Financial increased their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Finally, Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Four research 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $34.60.
Enterprise Products Partners Trading Down 2.3 %
Enterprise Products Partners (NYSE:EPD – Get Free Report) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). The company had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period last year, the company posted $0.60 earnings per share. Analysts forecast that Enterprise Products Partners L.P. will post 2.67 earnings per share for the current fiscal year.
Enterprise Products Partners Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.54%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is presently 78.65%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Rosenberg Matthew Hamilton grew its position in shares of Enterprise Products Partners by 364.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 656 shares during the last quarter. DiNuzzo Private Wealth Inc. boosted its holdings in Enterprise Products Partners by 1,000.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after acquiring an additional 1,000 shares during the last quarter. Assetmark Inc. increased its position in Enterprise Products Partners by 19,800.0% during the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after purchasing an additional 1,188 shares during the period. Sanctuary Wealth Management L.L.C. bought a new position in Enterprise Products Partners during the 3rd quarter worth approximately $36,000. Finally, Bangor Savings Bank boosted its stake in shares of Enterprise Products Partners by 558.3% in the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after purchasing an additional 1,072 shares during the last quarter. 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.
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