Enterprise Products Partners (NYSE:EPD) Trading 0.4% Higher

Enterprise Products Partners L.P. (NYSE:EPDGet Free Report)’s stock price was up 0.4% during mid-day trading on Wednesday . The company traded as high as $29.86 and last traded at $29.86. Approximately 1,194,062 shares were traded during trading, a decline of 76% from the average daily volume of 4,886,347 shares. The stock had previously closed at $29.75.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on EPD shares. Stifel Nicolaus increased their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Barclays increased their price target on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 26th. Wells Fargo & Company increased their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Truist Financial increased their price target on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 price target on shares of Enterprise Products Partners in a research report on Tuesday, February 13th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $32.55.

Check Out Our Latest Report on Enterprise Products Partners

Enterprise Products Partners Stock Performance

The firm has a market cap of $64.59 billion, a P/E ratio of 11.85 and a beta of 1.02. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93. The company’s 50 day moving average is $27.76 and its 200 day moving average is $27.10.

Enterprise Products Partners (NYSE:EPDGet Free Report) last issued its quarterly earnings data on Thursday, February 1st. The oil and gas producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. The business had revenue of $14.62 billion during the quarter, compared to the consensus estimate of $12.43 billion. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.65 EPS. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.64 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st were paid a dividend of $0.515 per share. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $2.06 annualized dividend and a dividend yield of 6.92%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.50. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 81.75%.

Hedge Funds Weigh In On Enterprise Products Partners

Large investors have recently modified their holdings of the business. Fairfield Bush & CO. bought a new position in shares of Enterprise Products Partners during the second quarter valued at $26,000. Pacific Center for Financial Services bought a new position in shares of Enterprise Products Partners during the first quarter valued at $27,000. Burkett Financial Services LLC bought a new position in shares of Enterprise Products Partners during the fourth quarter valued at $28,000. Intrepid Capital Management Inc. bought a new position in Enterprise Products Partners during the second quarter worth $35,000. Finally, Financial Freedom LLC bought a new position in Enterprise Products Partners during the fourth quarter worth $38,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Company Profile

(Get Free Report)

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.

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