Enterprise Products Partners (NYSE:EPD) Stock Price Up 0.6% – What’s Next?

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on EPD. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Truist Financial upped their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Scotiabank initiated coverage on Enterprise Products Partners in a research report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 target price for the company. Finally, Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a research 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $34.70.

Enterprise Products Partners Stock Performance

The stock’s fifty day simple moving average is $32.58 and its 200-day simple moving average is $30.88. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $72.69 billion, a PE ratio of 12.47, a PEG ratio of 1.57 and a beta of 1.09.

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

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a dividend of $0.535 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.38%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s payout ratio is presently 79.55%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Baer Investment Advisory LLC acquired a new position in shares of Enterprise Products Partners in the fourth quarter worth $793,000. Sunbeam Capital Management LLC acquired a new stake in shares of Enterprise Products Partners during the 4th quarter worth about $252,000. Montchanin Asset Management LLC grew its holdings in shares of Enterprise Products Partners by 1.2% during the fourth quarter. Montchanin Asset Management LLC now owns 107,580 shares of the oil and gas producer’s stock worth $3,374,000 after buying an additional 1,300 shares in the last quarter. WCG Wealth Advisors LLC raised its position in shares of Enterprise Products Partners by 3.5% in the fourth quarter. WCG Wealth Advisors LLC now owns 33,606 shares of the oil and gas producer’s stock valued at $1,054,000 after buying an additional 1,139 shares during the last quarter. Finally, Alpine Global Management LLC purchased a new position in shares of Enterprise Products Partners during the fourth quarter valued at approximately $207,000. 26.07% of the stock is 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.