Enterprise Products Partners (NYSE:EPD) Stock Price Up 0% – Here’s Why

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price traded up 0% during mid-day trading on Friday . The stock traded as high as $33.95 and last traded at $33.67. 794,310 shares changed hands during trading, a decline of 79% from the average session volume of 3,752,877 shares. The stock had previously closed at $33.67.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Bank of America initiated coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective on the stock. Truist Financial lifted their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Scotiabank initiated coverage on shares of Enterprise Products Partners in a research report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price target on the stock. Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.60.

Enterprise Products Partners Price Performance

The stock’s 50-day moving average price is $32.33 and its 200-day moving average price is $30.36. The company has a market capitalization of $72.78 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 1.60 and a beta of 1.09. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05.

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 for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The business had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The company’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period last year, the firm earned $0.60 earnings per share. Equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.67 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.37%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, January 31st. Enterprise Products Partners’s payout ratio is 78.65%.

Institutional Investors Weigh In On Enterprise Products Partners

Large investors have recently bought and sold shares of the company. Rosenberg Matthew Hamilton increased its stake in Enterprise Products Partners by 364.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 656 shares in the last quarter. DiNuzzo Private Wealth Inc. increased its stake in Enterprise Products Partners by 1,000.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 1,000 shares in the last quarter. Assetmark Inc. increased its stake in Enterprise Products Partners by 19,800.0% in the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after purchasing an additional 1,188 shares in the last quarter. Sanctuary Wealth Management L.L.C. bought a new stake in Enterprise Products Partners in the third quarter valued at approximately $36,000. Finally, Bangor Savings Bank increased its stake in Enterprise Products Partners by 558.3% in the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after purchasing an additional 1,072 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

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.