Enterprise Products Partners (NYSE:EPD) Shares Up 0.4%

Enterprise Products Partners L.P. (NYSE:EPD)’s share price traded up 0.4% during trading on Monday . The stock traded as high as $29.00 and last traded at $28.95. 1,163,311 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 4,862,546 shares. The stock had previously closed at $28.84.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. Wells Fargo & Company upped their price objective on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 price objective on shares of Enterprise Products Partners in a report on Friday, April 5th. Scotiabank raised their price objective on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 4th. Finally, Barclays raised their price objective on Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, March 26th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $32.58.

Enterprise Products Partners Stock Performance

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 company has a market capitalization of $62.67 billion, a PE ratio of 11.47 and a beta of 1.02. The stock’s fifty day simple moving average is $28.46 and its 200-day simple moving average is $27.29.

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

Enterprise Products Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be paid a dividend of $0.515 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.13%. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.75%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Accordant Advisory Group Inc purchased a new position in shares of Enterprise Products Partners during the 1st quarter worth approximately $26,000. Burkett Financial Services LLC purchased a new position in shares of Enterprise Products Partners during the 4th quarter worth approximately $28,000. Stephens Consulting LLC purchased a new stake in Enterprise Products Partners in the 1st quarter worth approximately $29,000. Rational Advisors LLC purchased a new stake in Enterprise Products Partners in the 3rd quarter worth approximately $43,000. Finally, Financial Gravity Asset Management Inc. purchased a new stake in Enterprise Products Partners in the 3rd quarter worth approximately $48,000. 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.