Enterprise Products Partners (NYSE:EPD) Stock Price Down 0%

Shares of Enterprise Products Partners L.P. (NYSE:EPD) fell 0% on Tuesday . The stock traded as low as $28.34 and last traded at $28.36. 1,620,323 shares traded hands during trading, a decline of 67% from the average session volume of 4,941,049 shares. The stock had previously closed at $28.37.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on EPD shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 price target on shares of Enterprise Products Partners in a research report on Friday, April 5th. StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 9th. Stifel Nicolaus boosted their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Truist Financial raised 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, Mizuho reissued a “buy” rating and set a $34.00 target price on shares of Enterprise Products Partners in a report on Thursday, April 4th. Two 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $32.75.

Enterprise Products Partners Stock Performance

The stock has a fifty day simple moving average of $28.66 and a two-hundred day simple moving average of $27.36. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93. The stock has a market cap of $61.47 billion, a price-to-earnings ratio of 11.12 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. Enterprise Products Partners had a return on equity of 19.75% and a net margin of 10.76%. The firm had revenue of $14.76 billion for the quarter, compared to analysts’ expectations of $13.82 billion. During the same quarter in the previous year, the business posted $0.64 earnings per share. The business’s revenue for the quarter was up 18.6% on a year-over-year basis. Analysts expect that Enterprise Products Partners L.P. will post 2.7 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders 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 7.27%. Enterprise Products Partners’s payout ratio is presently 80.78%.

Hedge Funds Weigh In On Enterprise Products Partners

Large investors have recently bought and sold shares of the company. Alps Advisors Inc. raised its stake in shares of 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 last quarter. Blackstone Inc. increased its holdings in Enterprise Products Partners by 12.0% in the third quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock valued at $633,174,000 after purchasing an additional 2,472,847 shares during the period. American Century Companies Inc. lifted its holdings in Enterprise Products Partners by 14.2% during the 3rd quarter. American Century Companies Inc. now owns 17,331,648 shares of the oil and gas producer’s stock worth $474,367,000 after buying an additional 2,155,640 shares during the period. Reaves W H & Co. Inc. grew its position in shares of Enterprise Products Partners by 1,368.4% in the 1st quarter. Reaves W H & Co. Inc. now owns 1,468,440 shares of the oil and gas producer’s stock valued at $42,849,000 after buying an additional 1,368,440 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Enterprise Products Partners by 16.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,634,854 shares of the oil and gas producer’s stock valued at $263,706,000 after buying an additional 1,325,390 shares during the period. 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.