Enterprise Products Partners (NYSE:EPD) Trading Up 0.1% – What’s Next?

Shares of Enterprise Products Partners L.P. (NYSE:EPD) were up 0.1% on Friday . The company traded as high as $29.17 and last traded at $29.07. Approximately 758,763 shares traded hands during trading, a decline of 82% from the average daily volume of 4,269,785 shares. The stock had previously closed at $29.03.

Analyst Ratings Changes

EPD has been the topic of a number of recent research reports. Truist Financial upped their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Bank of America initiated coverage on Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target for the company. Finally, Royal Bank of Canada upped their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Buy” and an average price target of $33.73.

Enterprise Products Partners Price Performance

The firm has a market capitalization of $63.04 billion, a price-to-earnings ratio of 11.40, a P/E/G ratio of 1.49 and a beta of 1.03. The company has a fifty day moving average price of $29.25 and a two-hundred day moving average price of $28.95. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.02). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The firm had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. During the same period in the previous year, the company posted $0.57 earnings per share. Enterprise Products Partners’s revenue was up 26.6% compared to the same quarter last year. On average, equities research analysts expect that Enterprise Products Partners L.P. will post 2.71 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 7.23%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is presently 82.35%.

Institutional Investors Weigh In On Enterprise Products Partners

Hedge funds have recently modified their holdings of the stock. O Shaughnessy Asset Management LLC lifted its holdings in shares of Enterprise Products Partners by 19.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock worth $685,000 after purchasing an additional 3,770 shares during the period. Sanders Morris Harris LLC raised its position in Enterprise Products Partners by 28.1% in the third quarter. Sanders Morris Harris LLC now owns 705,804 shares of the oil and gas producer’s stock worth $20,546,000 after acquiring an additional 154,822 shares in the last quarter. Nwam LLC raised its position in Enterprise Products Partners by 25.1% in the first quarter. Nwam LLC now owns 20,822 shares of the oil and gas producer’s stock worth $591,000 after acquiring an additional 4,184 shares in the last quarter. J.W. Cole Advisors Inc. raised its position in Enterprise Products Partners by 10.8% in the first quarter. J.W. Cole Advisors Inc. now owns 48,832 shares of the oil and gas producer’s stock worth $1,425,000 after acquiring an additional 4,757 shares in the last quarter. Finally, Natixis raised its position in Enterprise Products Partners by 144.9% in the first quarter. Natixis now owns 74,872 shares of the oil and gas producer’s stock worth $2,185,000 after acquiring an additional 44,300 shares in the last quarter. 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.