Enterprise Products Partners (NYSE:EPD) Trading Up 0.5% – What’s Next?

Enterprise Products Partners L.P. (NYSE:EPD) rose 0.5% during trading on Friday . The company traded as high as $32.55 and last traded at $32.52. Approximately 526,711 shares traded hands during trading, a decline of 88% from the average daily volume of 4,279,968 shares. The stock had previously closed at $32.35.

Wall Street Analysts Forecast Growth

EPD has been the subject of several recent analyst reports. Bank of America assumed coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price for the company. 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. Truist Financial raised their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Finally, StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $34.00.

Enterprise Products Partners Stock Performance

The business has a 50-day moving average price of $29.66 and a 200-day moving average price of $29.16. 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 firm has a market capitalization of $70.90 billion, a price-to-earnings ratio of 12.18, a P/E/G ratio of 1.63 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share 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 analysts’ expectations of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. Enterprise Products Partners’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 EPS. As a group, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 6.42%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners’s payout ratio is 78.65%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EPD. Blackstone Inc. boosted its holdings in shares of Enterprise Products Partners by 6.3% in the 1st quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock valued at $686,712,000 after acquiring an additional 1,391,370 shares during the last quarter. Tortoise Capital Advisors L.L.C. grew its holdings in Enterprise Products Partners by 4.8% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock worth $470,091,000 after acquiring an additional 741,237 shares during the period. Energy Income Partners LLC lifted its holdings in Enterprise Products Partners by 0.9% in the first quarter. Energy Income Partners LLC now owns 15,618,956 shares of the oil and gas producer’s stock valued at $455,761,000 after acquiring an additional 142,689 shares during the period. FMR LLC grew its stake in shares of Enterprise Products Partners by 9.3% during the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after purchasing an additional 1,225,988 shares during the period. Finally, Pathway Financial Advisers LLC increased its holdings in shares of Enterprise Products Partners by 2,862.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after purchasing an additional 7,494,224 shares in the last quarter. 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.