Enterprise Products Partners (NYSE:EPD) Trading 0.3% Higher – What’s Next?

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price shot up 0.3% during trading on Tuesday . The stock traded as high as $30.67 and last traded at $30.66. 607,007 shares were traded during trading, a decline of 86% from the average session volume of 4,287,561 shares. The stock had previously closed at $30.57.

Wall Street Analyst Weigh In

Several analysts recently issued reports on EPD shares. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Truist Financial boosted their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Finally, Bank of America assumed 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. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $34.00.

Enterprise Products Partners Stock Performance

The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.68. The company has a fifty day moving average of $29.36 and a two-hundred day moving average of $29.02. The stock has a market capitalization of $66.80 billion, a P/E ratio of 11.48, a price-to-earnings-growth ratio of 1.57 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). The business had revenue of $13.78 billion during 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 revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 EPS. On average, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a $0.525 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a yield of 6.81%. Enterprise Products Partners’s dividend payout ratio (DPR) is 78.65%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Blackstone Inc. raised its holdings in shares of Enterprise Products Partners by 6.3% in the 1st quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock worth $686,712,000 after purchasing an additional 1,391,370 shares in the last quarter. Tortoise Capital Advisors L.L.C. boosted its stake in shares of Enterprise Products Partners by 4.8% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock worth $470,091,000 after acquiring an additional 741,237 shares in the last quarter. Energy Income Partners LLC grew its holdings in shares of Enterprise Products Partners by 0.9% in the 1st quarter. Energy Income Partners LLC now owns 15,618,956 shares of the oil and gas producer’s stock worth $455,761,000 after acquiring an additional 142,689 shares during the last quarter. FMR LLC raised its position in shares of Enterprise Products Partners by 9.3% during the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after purchasing an additional 1,225,988 shares during the period. Finally, Pathway Financial Advisers LLC lifted its holdings in shares of Enterprise Products Partners by 2,862.8% during the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after purchasing an additional 7,494,224 shares during 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.