Enterprise Products Partners (NYSE:EPD) Stock Price Up 1.7% – Here’s Why

Shares of Enterprise Products Partners L.P. (NYSE:EPD) were up 1.7% during trading on Wednesday . The company traded as high as $33.42 and last traded at $33.41. Approximately 820,444 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 4,285,468 shares. The stock had previously closed at $32.86.

Analysts Set New Price Targets

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

Enterprise Products Partners Trading Up 2.4 %

The firm has a market cap of $72.94 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 1.67 and a beta of 1.04. The company’s 50-day moving average price is $29.84 and its 200-day moving average price is $29.25. 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 issued its quarterly earnings data 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). The business had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The firm’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 business posted $0.60 earnings per share. Equities analysts expect that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 6.24%. The ex-dividend date of this dividend was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 78.65%.

Institutional Trading of Enterprise Products Partners

Institutional investors and hedge funds have recently made changes to their positions in the stock. Hantz Financial Services Inc. acquired a new position in Enterprise Products Partners in the 2nd quarter valued at about $25,000. Mascoma Wealth Management LLC acquired a new position in shares of Enterprise Products Partners in the second quarter valued at approximately $29,000. DiNuzzo Private Wealth Inc. lifted its stake in shares of Enterprise Products Partners by 1,000.0% during 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 buying an additional 1,000 shares during the period. Assetmark Inc. boosted its position in Enterprise Products Partners by 19,800.0% during the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after acquiring an additional 1,188 shares during the last quarter. Finally, Sanctuary Wealth Management L.L.C. purchased a new stake in Enterprise Products Partners in the 3rd quarter worth approximately $36,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

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.