Enterprise Products Partners (NYSE:EPD) Trading Up 0.9%

Enterprise Products Partners L.P. (NYSE:EPD) shares rose 0.9% on Monday . The stock traded as high as $29.63 and last traded at $29.57. Approximately 683,193 shares changed hands during trading, a decline of 85% from the average daily volume of 4,423,094 shares. The stock had previously closed at $29.32.

Wall Street Analysts Forecast Growth

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

Enterprise Products Partners Stock Up 0.3 %

The stock has a market capitalization of $63.89 billion, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. The firm’s 50 day simple moving average is $29.22 and its 200-day simple moving average is $28.90.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share 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 revenue for the quarter was up 26.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.57 earnings per share. Equities analysts expect that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal 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 issued a dividend of $0.525 per share. The ex-dividend date was Wednesday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a dividend yield of 7.14%. Enterprise Products Partners’s payout ratio is 82.35%.

Hedge Funds Weigh In On Enterprise Products Partners

Several large investors have recently modified their holdings of EPD. Aveo Capital Partners LLC boosted its holdings in Enterprise Products Partners by 1.3% in the fourth quarter. Aveo Capital Partners LLC now owns 55,566 shares of the oil and gas producer’s stock worth $1,464,000 after acquiring an additional 716 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Enterprise Products Partners by 2.2% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 529,375 shares of the oil and gas producer’s stock worth $13,949,000 after purchasing an additional 11,549 shares in the last quarter. US Bancorp DE lifted its position in shares of Enterprise Products Partners by 1.3% during the 4th quarter. US Bancorp DE now owns 718,587 shares of the oil and gas producer’s stock worth $18,935,000 after buying an additional 9,421 shares in the last quarter. Congress Wealth Management LLC DE grew its holdings in shares of Enterprise Products Partners by 11.3% in the fourth quarter. Congress Wealth Management LLC DE now owns 48,862 shares of the oil and gas producer’s stock valued at $1,288,000 after acquiring an additional 4,978 shares in the last quarter. Finally, Johnson Financial Group Inc. increased its position in shares of Enterprise Products Partners by 71.7% during the fourth quarter. Johnson Financial Group Inc. now owns 3,768 shares of the oil and gas producer’s stock valued at $99,000 after acquiring an additional 1,573 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

About Enterprise Products Partners

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.