Enterprise Products Partners (NYSE:EPD) Stock Price Down 0.7%

Enterprise Products Partners L.P. (NYSE:EPD)’s share price fell 0.7% on Tuesday . The stock traded as low as $28.24 and last traded at $28.31. 1,641,362 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 4,897,837 shares. The stock had previously closed at $28.51.

Wall Street Analysts Forecast Growth

EPD has been the subject of a number of research reports. Barclays lifted their target price on Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, March 26th. Scotiabank lifted their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 4th. Wells Fargo & Company lifted their target price on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Stifel Nicolaus lifted their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Finally, Truist Financial lifted their target price on Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $32.58.

Enterprise Products Partners Price Performance

The stock has a market capitalization of $61.57 billion, a price-to-earnings ratio of 11.27 and a beta of 1.02. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The business has a 50-day simple moving average of $28.27 and a two-hundred day simple moving average of $27.24.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. The firm had revenue of $14.62 billion during the quarter, compared to the consensus estimate of $12.43 billion. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.65 earnings per share. As a group, research analysts predict that Enterprise Products Partners L.P. will post 2.63 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be given a $0.515 dividend. The ex-dividend date is Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a yield of 7.25%. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.75%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of institutional investors have recently added to or reduced their stakes in the company. Fairfield Bush & CO. bought a new position in shares of Enterprise Products Partners in the first quarter valued at $31,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Enterprise Products Partners by 2.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,571,535 shares of the oil and gas producer’s stock valued at $169,611,000 after purchasing an additional 169,059 shares during the period. BlackRock Inc. raised its stake in Enterprise Products Partners by 4.7% during the 1st quarter. BlackRock Inc. now owns 25,050,292 shares of the oil and gas producer’s stock valued at $646,548,000 after purchasing an additional 1,114,690 shares during the period. Cibc World Market Inc. raised its stake in Enterprise Products Partners by 3.2% during the 1st quarter. Cibc World Market Inc. now owns 89,367 shares of the oil and gas producer’s stock valued at $2,307,000 after purchasing an additional 2,804 shares during the period. Finally, Sei Investments Co. raised its stake in Enterprise Products Partners by 76.5% during the 1st quarter. Sei Investments Co. now owns 888,439 shares of the oil and gas producer’s stock valued at $22,931,000 after purchasing an additional 385,008 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

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.