Enterprise Products Partners (NYSE:EPD) Trading 0.6% Higher – What’s Next?

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price rose 0.6% during trading on Tuesday . The company traded as high as $33.85 and last traded at $33.64. Approximately 1,069,008 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 4,764,664 shares. The stock had previously closed at $33.44.

Analysts Set New Price Targets

EPD has been the subject of a number of research reports. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Truist Financial raised their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. 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. Finally, Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a report on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $34.70.

Enterprise Products Partners Trading Up 0.7 %

The firm has a market capitalization of $73.02 billion, a PE ratio of 12.52, a PEG ratio of 1.54 and a beta of 1.09. The firm’s fifty day moving average is $32.53 and its two-hundred day moving average is $30.82. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.05. The business had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 earnings per share. On average, equities analysts predict that Enterprise Products Partners L.P. will post 2.87 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.535 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.14 annualized dividend and a yield of 6.35%. Enterprise Products Partners’s payout ratio is currently 79.55%.

Institutional Trading of Enterprise Products Partners

Several hedge funds have recently added to or reduced their stakes in EPD. Rosenberg Matthew Hamilton raised its position 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 worth $26,000 after acquiring an additional 656 shares during the period. Tidemark LLC raised its position in Enterprise Products Partners by 54.3% in the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 318 shares during the period. Lee Danner & Bass Inc. bought a new stake in Enterprise Products Partners in the fourth quarter worth about $29,000. Crowley Wealth Management Inc. bought a new stake in Enterprise Products Partners in the fourth quarter worth about $30,000. Finally, National Bank of Canada FI raised its position in shares of Enterprise Products Partners by 55.4% in the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 360 shares during the period. 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.