Enterprise Products Partners (NYSE:EPD) Shares Up 0.4%

Enterprise Products Partners L.P. (NYSE:EPD) shares shot up 0.4% on Tuesday . The company traded as high as $29.31 and last traded at $29.22. 667,014 shares traded hands during trading, a decline of 85% from the average session volume of 4,372,955 shares. The stock had previously closed at $29.11.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on EPD. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Morgan Stanley decreased their target price 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, Truist Financial boosted their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.08.

Enterprise Products Partners Stock Performance

The firm’s fifty day moving average price is $29.16 and its 200 day moving average price is $28.94. 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 stock has a market capitalization of $63.47 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results 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). Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The business had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $14.23 billion. During the same period in the previous year, the company earned $0.57 earnings per share. Enterprise Products Partners’s quarterly revenue was up 26.6% on a year-over-year basis. 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. Shareholders of record on Wednesday, July 31st were given a $0.525 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.18%. Enterprise Products Partners’s dividend payout ratio is currently 82.35%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of large investors have recently modified their holdings of the company. Hantz Financial Services Inc. acquired a new position in shares of Enterprise Products Partners in the 2nd quarter valued at $25,000. Stephens Consulting LLC acquired a new position in shares of Enterprise Products Partners in the 1st quarter valued at $29,000. Palisade Asset Management LLC acquired a new position in shares of Enterprise Products Partners in the 1st quarter valued at $29,000. Mascoma Wealth Management LLC acquired a new position in shares of Enterprise Products Partners in the 2nd quarter valued at $29,000. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Enterprise Products Partners in the 2nd quarter valued at $37,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

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.