Enterprise Products Partners (NYSE:EPD) Stock Price Down 0.1%

Enterprise Products Partners L.P. (NYSE:EPD)’s share price was down 0.1% during mid-day trading on Wednesday . The stock traded as low as $29.04 and last traded at $29.15. Approximately 512,907 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 4,383,389 shares. The stock had previously closed at $29.19.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on EPD. Morgan Stanley reduced their price objective on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Monday, June 10th. JPMorgan Chase & Co. decreased their target price on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Thursday, May 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 price target on shares of Enterprise Products Partners in a research note on Friday, April 5th. Mizuho reaffirmed a “buy” rating and set a $34.00 target price on shares of Enterprise Products Partners in a research report on Thursday, April 4th. Finally, Truist Financial increased their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Buy” and a consensus target price of $32.77.

Enterprise Products Partners Price Performance

The company has a market cap of $63.39 billion, a PE ratio of 11.44, a PEG ratio of 1.36 and a beta of 1.04. 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 50-day moving average is $28.60 and its 200 day moving average is $28.06.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $14.76 billion during the quarter, compared to analyst estimates of $13.82 billion. During the same quarter in the prior year, the business posted $0.64 EPS. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. On average, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $2.10 annualized dividend and a dividend yield of 7.19%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s dividend payout ratio is 80.78%.

Institutional Trading of Enterprise Products Partners

Several large investors have recently bought and sold shares of EPD. Accordant Advisory Group Inc acquired a new position in shares of Enterprise Products Partners in the 1st quarter valued at $26,000. Burkett Financial Services LLC purchased a new stake in Enterprise Products Partners in the fourth quarter valued at approximately $28,000. Stephens Consulting LLC acquired a new position in Enterprise Products Partners in the 1st quarter worth approximately $29,000. Palisade Asset Management LLC purchased a new position in Enterprise Products Partners during the 1st quarter worth approximately $29,000. Finally, First Command Advisory Services Inc. lifted its stake in Enterprise Products Partners by 130.4% during the 1st quarter. First Command Advisory Services Inc. now owns 1,613 shares of the oil and gas producer’s stock valued at $47,000 after acquiring an additional 913 shares during the period. Hedge funds and other institutional investors 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.