Enterprise Products Partners (NYSE:EPD) Trading Up 0.1%

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price shot up 0.1% during mid-day trading on Wednesday . The stock traded as high as $28.38 and last traded at $28.38. 804,999 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 4,932,845 shares. The stock had previously closed at $28.35.

Analyst Ratings Changes

EPD has been the subject of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 price objective on shares of Enterprise Products Partners in a research report on Friday, April 5th. Stifel Nicolaus raised their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Mizuho reissued a “buy” rating and set a $34.00 price target on shares of Enterprise Products Partners in a research note on Thursday, April 4th. Truist Financial lifted their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, Scotiabank increased their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 4th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $32.75.

Enterprise Products Partners Stock Up 0.1 %

The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.95. The firm has a 50-day moving average of $28.68 and a 200 day moving average of $27.36. The stock has a market capitalization of $61.56 billion, a price-to-earnings ratio of 11.13 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.02. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.75%. The business had revenue of $14.76 billion during the quarter, compared to the consensus estimate of $13.82 billion. During the same period in the prior year, the firm earned $0.64 earnings per share. The business’s quarterly revenue was up 18.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.26%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s payout ratio is 80.78%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Accordant Advisory Group Inc bought a new position in Enterprise Products Partners during the 1st quarter worth approximately $26,000. Stephens Consulting LLC acquired a new position in Enterprise Products Partners in the first quarter worth $29,000. Palisade Asset Management LLC bought a new stake in Enterprise Products Partners during the first quarter valued at $29,000. Burkett Financial Services LLC acquired a new stake in shares of Enterprise Products Partners during the fourth quarter worth $28,000. Finally, Rational Advisors LLC bought a new position in shares of Enterprise Products Partners in the 3rd quarter worth about $43,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

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.