Enterprise Products Partners (NYSE:EPD) Stock Price Up 0.3% – Here’s What Happened

Shares of Enterprise Products Partners L.P. (NYSE:EPD) rose 0.3% during mid-day trading on Wednesday . The stock traded as high as $32.37 and last traded at $32.30. Approximately 594,179 shares traded hands during trading, a decline of 86% from the average daily volume of 4,314,228 shares. The stock had previously closed at $32.19.

Analyst Ratings Changes

EPD has been the topic of several recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Bank of America began coverage on 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. Finally, US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Buy” and a consensus price target of $34.00.

Enterprise Products Partners Stock Performance

The firm’s 50-day moving average price is $30.62 and its 200 day moving average price is $29.58. The company has a market cap of $70.51 billion, a price-to-earnings ratio of 12.10, a PEG ratio of 1.69 and a beta of 1.08. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter in the previous year, the firm posted $0.60 EPS. The business’s revenue was up 14.8% on a year-over-year basis. On average, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a $0.525 dividend. The ex-dividend date was Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.46%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 78.65%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Hantz Financial Services Inc. acquired a new position in shares of Enterprise Products Partners in the 2nd quarter valued at $25,000. Mascoma Wealth Management LLC acquired a new position in Enterprise Products Partners in the second quarter valued at about $29,000. DiNuzzo Private Wealth Inc. increased its holdings in shares of 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 worth $32,000 after acquiring an additional 1,000 shares in the last quarter. Assetmark Inc. raised its position in shares of 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 purchasing an additional 1,188 shares during the period. Finally, Sanctuary Wealth Management L.L.C. bought a new position in shares of Enterprise Products Partners during the 3rd quarter valued at about $36,000. Institutional investors and hedge funds 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.