Enterprise Products Partners (NYSE:EPD) Trading Up 0.7%

Enterprise Products Partners L.P. (NYSE:EPD) was up 0.7% during trading on Monday . The stock traded as high as $28.81 and last traded at $28.78. Approximately 573,527 shares changed hands during trading, a decline of 87% from the average daily volume of 4,529,699 shares. The stock had previously closed at $28.57.

Analyst Upgrades and Downgrades

Several research analysts have commented on EPD shares. StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 4th. Scotiabank lifted 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. Truist Financial boosted their target price on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Barclays boosted their target price on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, March 26th. Finally, Morgan Stanley lowered their target price on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Monday, June 10th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $32.77.

Enterprise Products Partners Price Performance

The firm has a market capitalization of $62.82 billion, a P/E ratio of 11.29, a P/E/G ratio of 1.33 and a beta of 1.03. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.93 and a quick ratio of 0.68. The stock’s fifty day simple moving average is $28.47 and its 200 day simple moving average is $27.80.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. The business had revenue of $14.76 billion during the quarter, compared to the consensus estimate of $13.82 billion. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.73%. The firm’s revenue was up 18.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 earnings per share. On average, equities research analysts predict that Enterprise Products Partners L.P. will post 2.73 EPS for the current year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th were issued a dividend of $0.515 per share. The ex-dividend date of this dividend was Monday, April 29th. This represents a $2.06 annualized dividend and a dividend yield of 7.12%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 80.78%.

Hedge Funds Weigh In On Enterprise Products Partners

Several hedge funds have recently modified their holdings of EPD. Cadence Bank boosted its position in Enterprise Products Partners by 0.7% in the first quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock valued at $1,530,000 after buying an additional 365 shares during the last quarter. Hazlett Burt & Watson Inc. boosted its position in Enterprise Products Partners by 8.2% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 4,897 shares of the oil and gas producer’s stock valued at $128,000 after buying an additional 371 shares during the last quarter. Ellsworth Advisors LLC boosted its position in Enterprise Products Partners by 1.9% in the fourth quarter. Ellsworth Advisors LLC now owns 21,173 shares of the oil and gas producer’s stock valued at $558,000 after buying an additional 393 shares during the last quarter. Register Financial Advisors LLC boosted its position in Enterprise Products Partners by 2.3% in the fourth quarter. Register Financial Advisors LLC now owns 17,320 shares of the oil and gas producer’s stock valued at $456,000 after buying an additional 397 shares during the last quarter. Finally, Mosaic Family Wealth Partners LLC boosted its position in Enterprise Products Partners by 1.1% in the first quarter. Mosaic Family Wealth Partners LLC now owns 36,460 shares of the oil and gas producer’s stock valued at $1,064,000 after buying an additional 407 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.