Enterprise Products Partners (NYSE:EPD) Stock Price Up 0.4%

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price rose 0.4% during trading on Thursday . The company traded as high as $28.61 and last traded at $28.49. Approximately 1,468,657 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 4,898,674 shares. The stock had previously closed at $28.39.

Wall Street Analyst Weigh In

EPD has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 price target on shares of Enterprise Products Partners in a research report on Friday, April 5th. StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 9th. Stifel Nicolaus raised their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Truist Financial raised their price objective on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Finally, Scotiabank raised their price objective on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 4th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $32.58.

Enterprise Products Partners Price Performance

The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.68. The stock’s 50 day simple moving average is $28.27 and its two-hundred day simple moving average is $27.24. The stock has a market cap of $61.67 billion, a price-to-earnings ratio of 11.29 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. The company had revenue of $14.62 billion during the quarter, compared to analysts’ expectations of $12.43 billion. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The business’s revenue was up 7.1% on a year-over-year basis. During the same period last year, the business earned $0.65 earnings per share. On average, analysts forecast that Enterprise Products Partners L.P. will post 2.63 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be issued a dividend of $0.515 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.24%. Enterprise Products Partners’s payout ratio is presently 81.75%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in EPD. Fairfield Bush & CO. bought a new position in shares of Enterprise Products Partners during the first quarter valued at $31,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Enterprise Products Partners by 2.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,571,535 shares of the oil and gas producer’s stock valued at $169,611,000 after buying an additional 169,059 shares during the last quarter. BlackRock Inc. raised its holdings in Enterprise Products Partners by 4.7% during the 1st quarter. BlackRock Inc. now owns 25,050,292 shares of the oil and gas producer’s stock worth $646,548,000 after purchasing an additional 1,114,690 shares during the last quarter. Cibc World Market Inc. raised its holdings in Enterprise Products Partners by 3.2% during the 1st quarter. Cibc World Market Inc. now owns 89,367 shares of the oil and gas producer’s stock worth $2,307,000 after purchasing an additional 2,804 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in Enterprise Products Partners by 76.5% during the 1st quarter. Sei Investments Co. now owns 888,439 shares of the oil and gas producer’s stock worth $22,931,000 after purchasing an additional 385,008 shares during the last quarter. 26.07% of the stock is owned by 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.