Enterprise Products Partners (NYSE:EPD) Trading 0.7% Higher – Here’s What Happened

Enterprise Products Partners L.P. (NYSE:EPD) shot up 0.7% during trading on Wednesday . The stock traded as high as $29.39 and last traded at $29.30. 1,304,265 shares changed hands during trading, a decline of 69% from the average session volume of 4,270,906 shares. The stock had previously closed at $29.10.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday. Truist Financial increased their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Bank of America started coverage on Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective on the stock. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $33.73.

Enterprise Products Partners Stock Performance

The firm has a fifty day moving average of $29.23 and a 200 day moving average of $28.94. The stock has a market capitalization of $62.57 billion, a price-to-earnings ratio of 10.79, a price-to-earnings-growth ratio of 1.33 and a beta of 1.03. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.39% and a net margin of 10.32%. The company had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same period in the previous year, the business posted $0.60 earnings per share. The firm’s revenue was up 14.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be issued a $0.525 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 7.28%. Enterprise Products Partners’s dividend payout ratio is currently 78.65%.

Institutional Trading of Enterprise Products Partners

Several hedge funds have recently modified their holdings of EPD. Hantz Financial Services Inc. acquired a new position in Enterprise Products Partners in the 2nd quarter valued at about $25,000. Palisade Asset Management LLC acquired a new stake in Enterprise Products Partners in the first quarter worth $29,000. Mascoma Wealth Management LLC acquired a new position in shares of Enterprise Products Partners during the second quarter valued at about $29,000. DiNuzzo Private Wealth Inc. lifted its position in shares of Enterprise Products Partners by 1,000.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 1,000 shares in the last quarter. Finally, MFA Wealth Advisors LLC bought a new position in shares of Enterprise Products Partners during the second quarter valued at about $37,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

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.