Enterprise Products Partners (NYSE:EPD) Trading 1.5% Higher After Dividend Announcement

Enterprise Products Partners L.P. (NYSE:EPDGet Free Report) traded up 1.5% during mid-day trading on Thursday after the company announced a dividend. The company traded as high as $32.45 and last traded at $32.42. 3,726,075 shares changed hands during trading, a decline of 11% from the average session volume of 4,205,669 shares. The stock had previously closed at $31.93.

The newly announced dividend which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a dividend of $0.535 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a dividend yield of 6.60%. The ex-dividend date is Friday, January 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.15%.

Analyst Ratings Changes

A number of research firms have recently issued reports on EPD. Bank of America initiated coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Truist Financial boosted their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research note on Wednesday, December 18th. Finally, US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average price target of $34.50.

Read Our Latest Stock Analysis on EPD

Enterprise Products Partners Stock Up 1.5 %

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 $70.27 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 1.66 and a beta of 1.09. The business’s 50-day moving average price is $31.65 and its 200-day moving average price is $30.05.

Enterprise Products Partners (NYSE:EPDGet Free Report) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same period last year, the business earned $0.60 EPS. The company’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, equities research analysts predict that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Curi RMB Capital LLC grew its stake in shares of Enterprise Products Partners by 0.5% in the 3rd quarter. Curi RMB Capital LLC now owns 73,828 shares of the oil and gas producer’s stock valued at $2,149,000 after buying an additional 339 shares in the last quarter. Versant Capital Management Inc grew its position in Enterprise Products Partners by 10.7% in the fourth quarter. Versant Capital Management Inc now owns 3,519 shares of the oil and gas producer’s stock worth $110,000 after acquiring an additional 340 shares in the last quarter. Zega Financial LLC increased its stake in shares of Enterprise Products Partners by 1.7% during the 3rd quarter. Zega Financial LLC now owns 20,870 shares of the oil and gas producer’s stock worth $608,000 after purchasing an additional 344 shares during the last quarter. Tranquility Partners LLC increased its stake in shares of Enterprise Products Partners by 1.5% during the 3rd quarter. Tranquility Partners LLC now owns 23,204 shares of the oil and gas producer’s stock worth $675,000 after purchasing an additional 346 shares during the last quarter. Finally, Princeton Global Asset Management LLC lifted its stake in shares of Enterprise Products Partners by 4.9% in the 3rd quarter. Princeton Global Asset Management LLC now owns 7,510 shares of the oil and gas producer’s stock valued at $219,000 after purchasing an additional 350 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Company Profile

(Get Free Report)

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.

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