Enterprise Products Partners (NYSE:EPD) Shares Up 0.4% – Here’s What Happened

Enterprise Products Partners L.P. (NYSE:EPD) shares traded up 0.4% on Tuesday . The stock traded as high as $34.33 and last traded at $34.27. 888,529 shares changed hands during trading, a decline of 79% from the average session volume of 4,206,219 shares. The stock had previously closed at $34.14.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EPD. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Scotiabank lifted their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. Truist Financial upped their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. raised their target price on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. Finally, Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target 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 company’s stock. Based on data from MarketBeat.com, Enterprise Products Partners currently has an average rating of “Moderate Buy” and a consensus price target of $36.60.

Enterprise Products Partners Price Performance

The firm has a market capitalization of $73.75 billion, a PE ratio of 12.66, a PEG ratio of 1.37 and a beta of 1.08. 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 stock has a 50-day moving average price of $33.47 and a 200 day moving average price of $31.78.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.05. The company 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 quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.72 EPS. Equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a $0.535 dividend. The ex-dividend date of this dividend was Friday, January 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.28%. Enterprise Products Partners’s payout ratio is presently 79.55%.

Institutional Trading of Enterprise Products Partners

Several hedge funds have recently modified their holdings of EPD. Invesco Ltd. increased its holdings in Enterprise Products Partners by 1.3% in the fourth quarter. Invesco Ltd. now owns 27,076,718 shares of the oil and gas producer’s stock valued at $849,126,000 after buying an additional 359,288 shares during the last quarter. FMR LLC increased its stake in Enterprise Products Partners by 2.1% in the fourth quarter. FMR LLC now owns 14,734,295 shares of the oil and gas producer’s stock valued at $462,067,000 after purchasing an additional 304,997 shares during the last quarter. Kayne Anderson Capital Advisors LP raised its holdings in Enterprise Products Partners by 16.7% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock worth $426,125,000 after purchasing an additional 1,947,017 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Enterprise Products Partners by 8.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer’s stock worth $330,739,000 after buying an additional 851,188 shares during the last quarter. Finally, Westwood Holdings Group Inc. boosted its holdings in shares of Enterprise Products Partners by 11.1% in the 4th quarter. Westwood Holdings Group Inc. now owns 5,830,088 shares of the oil and gas producer’s stock valued at $182,832,000 after buying an additional 580,850 shares in the last quarter. 26.07% of the stock is currently 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.