Enterprise Products Partners (NYSE:EPD) Trading 0.1% Higher

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price was up 0.1% on Monday . The stock traded as high as $29.02 and last traded at $28.90. Approximately 478,291 shares changed hands during trading, a decline of 89% from the average daily volume of 4,495,105 shares. The stock had previously closed at $28.87.

Analyst Ratings Changes

EPD has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Morgan Stanley dropped their price objective on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, June 10th. Truist Financial boosted their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. dropped their price target on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Thursday, May 16th. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Enterprise Products Partners presently has an average rating of “Moderate Buy” and a consensus price target of $33.08.

Enterprise Products Partners Trading Up 0.7 %

The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $63.30 billion, a PE ratio of 11.30, a P/E/G ratio of 1.47 and a beta of 1.03. The business has a 50 day moving average price of $29.18 and a 200-day moving average price of $28.80.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The business had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. Enterprise Products Partners’s revenue was up 26.6% compared to the same quarter last year. During the same period last year, the business posted $0.57 EPS. Analysts expect that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were given a dividend of $0.525 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a yield of 7.20%. The ex-dividend date of this dividend was Wednesday, July 31st. Enterprise Products Partners’s dividend payout ratio is presently 82.35%.

Hedge Funds Weigh In On Enterprise Products Partners

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hantz Financial Services Inc. acquired a new stake in shares of Enterprise Products Partners in the second quarter valued at approximately $25,000. Burkett Financial Services LLC acquired a new stake in Enterprise Products Partners during the 4th quarter valued at $28,000. Stephens Consulting LLC purchased a new position in Enterprise Products Partners during the first quarter worth $29,000. Palisade Asset Management LLC purchased a new position in Enterprise Products Partners during the first quarter worth $29,000. Finally, Mascoma Wealth Management LLC acquired a new position in shares of Enterprise Products Partners in the second quarter worth $29,000. 26.07% of the stock is 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.