Enterprise Products Partners (NYSE:EPD) Shares Up 1% – What’s Next?

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price rose 1% during mid-day trading on Monday . The company traded as high as $31.48 and last traded at $31.40. Approximately 542,660 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 4,291,696 shares. The stock had previously closed at $31.09.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on EPD shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Truist Financial boosted their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Bank of America started coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price for the company. Finally, StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $34.00.

Enterprise Products Partners Stock Up 1.3 %

The stock has a market capitalization of $68.26 billion, a price-to-earnings ratio of 11.76, a price-to-earnings-growth ratio of 1.60 and a beta of 1.04. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The business’s 50-day moving average is $29.44 and its two-hundred day moving average is $29.07.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same quarter last year, the company earned $0.60 earnings per share. Enterprise Products Partners’s revenue for the quarter was up 14.8% on a year-over-year basis. Equities analysts anticipate that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were given a dividend of $0.525 per share. The ex-dividend date was Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 6.67%. Enterprise Products Partners’s payout ratio is 78.65%.

Institutional Investors Weigh In On Enterprise Products Partners

Hedge funds and other institutional investors have recently bought and sold shares of the company. Curi RMB Capital LLC increased its holdings in shares of Enterprise Products Partners by 0.5% during the 3rd quarter. Curi RMB Capital LLC now owns 73,828 shares of the oil and gas producer’s stock worth $2,149,000 after buying an additional 339 shares during the last quarter. Zega Financial LLC raised its position in Enterprise Products Partners by 1.7% in the third quarter. Zega Financial LLC now owns 20,870 shares of the oil and gas producer’s stock valued at $608,000 after purchasing an additional 344 shares during the period. Tranquility Partners LLC lifted its stake in shares of Enterprise Products Partners by 1.5% in the 3rd quarter. Tranquility Partners LLC now owns 23,204 shares of the oil and gas producer’s stock valued at $675,000 after purchasing an additional 346 shares during the last quarter. Princeton Global Asset Management LLC grew its holdings in shares of Enterprise Products Partners by 4.9% during the 3rd quarter. Princeton Global Asset Management LLC now owns 7,510 shares of the oil and gas producer’s stock worth $219,000 after purchasing an additional 350 shares during the period. Finally, Strategic Wealth Partners Ltd. increased its position in shares of Enterprise Products Partners by 3.8% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 9,731 shares of the oil and gas producer’s stock worth $283,000 after purchasing an additional 353 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

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.