Enterprise Products Partners (NYSE:EPD) Trading Up 0.2%

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price traded up 0.2% on Thursday . The stock traded as high as $29.73 and last traded at $29.54. 369,775 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 4,434,489 shares. The stock had previously closed at $29.49.

Analysts Set New Price Targets

Several brokerages have commented on EPD. Morgan Stanley decreased their price objective on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Monday, June 10th. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Finally, Truist Financial lifted their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Two investment 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.08.

Enterprise Products Partners Stock Performance

The business’s fifty day moving average price is $29.22 and its 200-day moving average price is $28.89. The stock has a market cap of $63.62 billion, a PE ratio of 11.49, a P/E/G ratio of 1.49 and a beta of 1.03. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91.

Enterprise Products Partners (NYSE:EPD) last issued its 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 analysts’ expectations of $14.23 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.57 EPS. As a group, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.72 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were issued a $0.525 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $2.10 annualized dividend and a dividend yield of 7.17%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s payout ratio is presently 82.35%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of EPD. Hantz Financial Services Inc. bought a new position in shares of Enterprise Products Partners in the 2nd quarter worth approximately $25,000. Burkett Financial Services LLC bought a new position in Enterprise Products Partners in the fourth quarter worth approximately $28,000. Stephens Consulting LLC purchased a new position in shares of Enterprise Products Partners during the 1st quarter worth $29,000. Palisade Asset Management LLC bought a new stake in shares of Enterprise Products Partners during the 1st quarter valued at $29,000. Finally, Mascoma Wealth Management LLC purchased a new stake in shares of Enterprise Products Partners in the 2nd quarter worth $29,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

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.