Enterprise Products Partners (NYSE:EPD) Shares Down 0.3%

Enterprise Products Partners L.P. (NYSE:EPD)’s share price fell 0.3% during mid-day trading on Monday . The company traded as low as $29.83 and last traded at $29.84. 1,019,795 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 4,376,385 shares. The stock had previously closed at $29.94.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a research note on Friday, April 5th. JPMorgan Chase & Co. lowered their target price on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Thursday, May 16th. Wells Fargo & Company boosted their price target on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Finally, Truist Financial raised their price objective 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. 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. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $32.77.

Enterprise Products Partners Trading Down 0.4 %

The stock has a market cap of $64.78 billion, a price-to-earnings ratio of 11.69, a P/E/G ratio of 1.40 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 business’s 50 day moving average is $28.86 and its 200 day moving average is $28.33.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.02. The business had revenue of $14.76 billion for the quarter, compared to analyst estimates of $13.82 billion. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. The business’s quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter last year, the company earned $0.64 EPS. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently announced 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. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.04%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Wednesday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 80.78%.

Institutional Trading of Enterprise Products Partners

A number of large investors have recently made changes to their positions in EPD. Blackstone Inc. grew its holdings in shares of Enterprise Products Partners by 6.3% during the first quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock worth $686,712,000 after buying an additional 1,391,370 shares during the last quarter. Energy Income Partners LLC raised its stake in shares of Enterprise Products Partners by 0.9% during the first quarter. Energy Income Partners LLC now owns 15,618,956 shares of the oil and gas producer’s stock worth $455,761,000 after purchasing an additional 142,689 shares during the last quarter. Kayne Anderson Capital Advisors LP lifted its holdings in shares of Enterprise Products Partners by 2.6% during the first quarter. Kayne Anderson Capital Advisors LP now owns 11,175,161 shares of the oil and gas producer’s stock worth $326,091,000 after purchasing an additional 284,772 shares during the period. Chickasaw Capital Management LLC grew its position in Enterprise Products Partners by 1.6% in the 2nd quarter. Chickasaw Capital Management LLC now owns 5,517,617 shares of the oil and gas producer’s stock valued at $159,901,000 after buying an additional 87,930 shares during the last quarter. Finally, Berkley W R Corp increased its stake in 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 valued at $148,520,000 after buying an additional 1,000,000 shares during the period. 26.07% of the stock is owned by institutional investors and hedge funds.

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.