Enterprise Products Partners (NYSE:EPD) Shares Up 1%

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price traded up 1% during trading on Friday . The stock traded as high as $29.49 and last traded at $29.49. 607,059 shares traded hands during trading, a decline of 86% from the average session volume of 4,360,836 shares. The stock had previously closed at $29.19.

Analyst Ratings Changes

Several analysts have issued reports on EPD shares. Truist Financial increased their target price on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Morgan Stanley reduced their target price on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Monday, June 10th. Wells Fargo & Company raised their price target on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Barclays boosted their price objective on Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, March 26th. Finally, JPMorgan Chase & Co. lowered their price target on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Thursday, May 16th. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $32.77.

Enterprise Products Partners Stock Performance

The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99. The company’s 50 day moving average is $28.60 and its 200-day moving average is $28.06. The company has a market capitalization of $64.00 billion, a P/E ratio of 11.56, a price-to-earnings-growth ratio of 1.36 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last posted 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 19.73% and a net margin of 10.76%. The company had revenue of $14.76 billion during the quarter, compared to analyst estimates of $13.82 billion. During the same quarter last year, the company earned $0.64 EPS. The firm’s revenue for the quarter was up 18.6% on a year-over-year basis. Equities analysts anticipate that Enterprise Products Partners L.P. will post 2.72 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st will be given a $0.525 dividend. The ex-dividend date is Wednesday, July 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a yield of 7.13%. Enterprise Products Partners’s dividend payout ratio is 80.78%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Blackstone Inc. boosted its holdings in Enterprise Products Partners by 6.3% in the first quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock worth $686,712,000 after purchasing an additional 1,391,370 shares during the last quarter. Reaves W H & Co. Inc. grew its holdings in shares of Enterprise Products Partners by 1,368.4% in the first quarter. Reaves W H & Co. Inc. now owns 1,468,440 shares of the oil and gas producer’s stock worth $42,849,000 after acquiring an additional 1,368,440 shares during the period. International Assets Investment Management LLC lifted its holdings in Enterprise Products Partners by 2,436.1% in the fourth quarter. International Assets Investment Management LLC now owns 1,171,302 shares of the oil and gas producer’s stock valued at $308,640,000 after acquiring an additional 1,125,117 shares during the period. Berkley W R Corp lifted its stake in shares of Enterprise Products Partners by 24.5% in the 1st quarter. Berkley W R Corp now owns 5,089,794 shares of the oil and gas producer’s stock worth $148,520,000 after purchasing an additional 1,000,000 shares during the period. Finally, Payden & Rygel Investment Group purchased a new stake in Enterprise Products Partners during the first quarter valued at approximately $21,371,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Company Profile

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.