Enterprise Products Partners (NYSE:EPD) Trading Down 0.4%

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price traded down 0.4% during mid-day trading on Friday . The company traded as low as $29.25 and last traded at $29.28. 450,942 shares were traded during trading, a decline of 90% from the average session volume of 4,426,486 shares. The stock had previously closed at $29.39.

Analysts Set New Price Targets

Several equities research analysts have weighed in on EPD shares. Morgan Stanley dropped their target price on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Monday, June 10th. Truist Financial lifted their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.08.

Enterprise Products Partners Stock Down 0.4 %

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91. The stock’s fifty day simple moving average is $29.22 and its two-hundred day simple moving average is $28.87. The company has a market capitalization of $63.58 billion, a price-to-earnings ratio of 11.48, a P/E/G ratio of 1.49 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.02). The company had revenue of $13.48 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 26.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.57 EPS. On average, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.72 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were paid a $0.525 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $2.10 dividend on an annualized basis and a yield of 7.17%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 82.35%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of large investors have recently made changes to their positions in EPD. JRM Investment Counsel LLC raised its stake in Enterprise Products Partners by 2.1% during the 4th quarter. JRM Investment Counsel LLC now owns 505,364 shares of the oil and gas producer’s stock valued at $13,316,000 after purchasing an additional 10,404 shares during the period. Linscomb & Williams Inc. lifted its stake in Enterprise Products Partners by 16.6% in the 4th quarter. Linscomb & Williams Inc. now owns 204,907 shares of the oil and gas producer’s stock worth $5,399,000 after acquiring an additional 29,112 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC boosted its position in Enterprise Products Partners by 37.5% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 881,700 shares of the oil and gas producer’s stock worth $23,233,000 after acquiring an additional 240,300 shares during the period. O Shaughnessy Asset Management LLC grew its stake in Enterprise Products Partners by 19.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock valued at $685,000 after acquiring an additional 3,770 shares in the last quarter. Finally, Platform Technology Partners increased its holdings in shares of Enterprise Products Partners by 14.4% in the 4th quarter. Platform Technology Partners now owns 27,245 shares of the oil and gas producer’s stock valued at $722,000 after purchasing an additional 3,426 shares during the period. 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.