Enterprise Products Partners (NYSE:EPD) Trading Up 0.4% – Here’s What Happened

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price traded up 0.4% during trading on Thursday . The company traded as high as $30.87 and last traded at $30.56. 957,036 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 4,295,464 shares. The stock had previously closed at $30.45.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Bank of America started coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price for the company. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a report on Wednesday. Finally, 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, October 30th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Enterprise Products Partners currently has an average rating of “Moderate Buy” and an average target price of $34.20.

Enterprise Products Partners Price Performance

The stock’s 50 day moving average price is $30.90 and its two-hundred day moving average price is $29.72. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $66.50 billion, a price-to-earnings ratio of 11.49, a P/E/G ratio of 1.67 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). The business had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.60 EPS. Analysts anticipate that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were given a dividend of $0.525 per share. The ex-dividend date was Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 6.84%. Enterprise Products Partners’s dividend payout ratio (DPR) is 78.65%.

Institutional Trading of Enterprise Products Partners

Hedge funds and other institutional investors have recently modified their holdings of the stock. &PARTNERS boosted its holdings in Enterprise Products Partners by 119.6% in the second quarter. &PARTNERS now owns 17,001 shares of the oil and gas producer’s stock valued at $493,000 after acquiring an additional 9,259 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its position in shares of Enterprise Products Partners by 29.3% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 17,826 shares of the oil and gas producer’s stock worth $517,000 after buying an additional 4,039 shares during the period. JB Capital LLC bought a new stake in shares of Enterprise Products Partners during the second quarter worth approximately $3,169,000. Gilliland Jeter Wealth Management LLC lifted its holdings in Enterprise Products Partners by 74.1% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 4,700 shares of the oil and gas producer’s stock valued at $136,000 after buying an additional 2,000 shares during the period. Finally, LRI Investments LLC boosted its stake in Enterprise Products Partners by 22.7% in the second quarter. LRI Investments LLC now owns 23,728 shares of the oil and gas producer’s stock valued at $688,000 after acquiring an additional 4,386 shares during the last quarter. 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.