Enterprise Products Partners (NYSE:EPD) Trading 0.9% Higher

Enterprise Products Partners L.P. (NYSE:EPD) traded up 0.9% during mid-day trading on Thursday . The stock traded as high as $28.72 and last traded at $28.65. 783,347 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 4,929,878 shares. The stock had previously closed at $28.39.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Scotiabank upped their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a report on Thursday, April 4th. Barclays upped their price objective on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, March 26th. Truist Financial upped their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 9th. Finally, Wells Fargo & Company increased their price target on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $32.75.

Enterprise Products Partners Stock Performance

The stock’s fifty day moving average is $28.70 and its two-hundred day moving average is $27.37. The firm has a market capitalization of $62.08 billion, a price-to-earnings ratio of 11.23 and a beta of 1.02. 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 released its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. The business had revenue of $14.76 billion during the quarter, compared to analyst estimates of $13.82 billion. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.75%. The business’s revenue was up 18.6% on a year-over-year basis. During the same period last year, the business earned $0.64 EPS. Analysts forecast that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 7.20%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s dividend payout ratio is currently 80.78%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Accordant Advisory Group Inc bought a new position in shares of Enterprise Products Partners in the 1st quarter worth about $26,000. Burkett Financial Services LLC bought a new position in shares of Enterprise Products Partners in the 4th quarter worth about $28,000. Stephens Consulting LLC bought a new position in shares of Enterprise Products Partners in the 1st quarter worth about $29,000. Palisade Asset Management LLC bought a new position in shares of Enterprise Products Partners in the 1st quarter worth about $29,000. Finally, Rational Advisors LLC bought a new position in shares of Enterprise Products Partners in the 3rd quarter worth about $43,000. 26.07% of the stock is owned by institutional investors and hedge funds.

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.