Enterprise Products Partners (NYSE:EPD) Trading Down 1.3%

Enterprise Products Partners L.P. (NYSE:EPD) shares traded down 1.3% during trading on Tuesday . The stock traded as low as $27.95 and last traded at $28.22. 2,922,474 shares were traded during mid-day trading, a decline of 41% from the average session volume of 4,932,898 shares. The stock had previously closed at $28.59.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Barclays raised their price target on Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. Truist Financial lifted their price objective on Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Scotiabank lifted 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. Mizuho reaffirmed a “buy” rating and set a $34.00 price objective on shares of Enterprise Products Partners in a report on Thursday, April 4th. Finally, Wells Fargo & Company lifted their price objective on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Enterprise Products Partners presently has an average rating of “Buy” and a consensus target price of $32.58.

Enterprise Products Partners Price Performance

The firm has a market capitalization of $60.88 billion, a P/E ratio of 11.20 and a beta of 1.02. The business has a fifty day moving average of $28.61 and a 200-day moving average of $27.34. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93.

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

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be given 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 yield of 7.34%. Enterprise Products Partners’s payout ratio is 81.75%.

Hedge Funds Weigh In On Enterprise Products Partners

Several institutional investors have recently bought and sold shares of EPD. Alps Advisors Inc. increased its stake in Enterprise Products Partners by 20.2% during the third quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock valued at $1,038,731,000 after acquiring an additional 6,369,350 shares during the period. Blackstone Inc. grew its holdings in shares of Enterprise Products Partners by 12.0% in the 3rd quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock valued at $633,174,000 after buying an additional 2,472,847 shares during the period. American Century Companies Inc. raised its holdings in shares of Enterprise Products Partners by 14.2% during the third quarter. American Century Companies Inc. now owns 17,331,648 shares of the oil and gas producer’s stock worth $474,367,000 after acquiring an additional 2,155,640 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Enterprise Products Partners by 16.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,634,854 shares of the oil and gas producer’s stock worth $263,706,000 after acquiring an additional 1,325,390 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its position in Enterprise Products Partners by 2,436.1% during the 4th quarter. International Assets Investment Management LLC now owns 1,171,302 shares of the oil and gas producer’s stock worth $308,640,000 after buying an additional 1,125,117 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors.

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.