Enterprise Products Partners (NYSE:EPD) Stock Price Down 0.1%

Enterprise Products Partners L.P. (NYSE:EPD) shares were down 0.1% on Wednesday . The stock traded as low as $29.04 and last traded at $29.15. Approximately 512,907 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 4,383,389 shares. The stock had previously closed at $29.19.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Mizuho restated a “buy” rating and issued a $34.00 price objective on shares of Enterprise Products Partners in a research report on Thursday, April 4th. JPMorgan Chase & Co. reduced their price objective on shares of Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Thursday, May 16th. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 target price on shares of Enterprise Products Partners in a research report on Friday, April 5th. Scotiabank raised their price target on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 4th. Finally, Morgan Stanley dropped their price objective on 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. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $32.77.

Enterprise Products Partners Stock Up 0.1 %

The company has a debt-to-equity ratio of 0.99, a current ratio of 0.93 and a quick ratio of 0.68. The firm’s 50 day moving average is $28.60 and its two-hundred day moving average is $28.06. The firm has a market capitalization of $63.39 billion, a P/E ratio of 11.44, a PEG ratio of 1.36 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.02. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. The firm had revenue of $14.76 billion for the quarter, compared to analyst estimates of $13.82 billion. During the same quarter in the prior year, the company earned $0.64 earnings per share. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. Research analysts predict that Enterprise Products Partners L.P. will post 2.72 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 7.19%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date is Wednesday, July 31st. Enterprise Products Partners’s payout ratio is 80.78%.

Hedge Funds Weigh In On Enterprise Products Partners

Several large investors have recently modified their holdings of EPD. Diversified Trust Co increased its stake in shares of Enterprise Products Partners by 8.4% during the third quarter. Diversified Trust Co now owns 16,366 shares of the oil and gas producer’s stock worth $448,000 after purchasing an additional 1,265 shares during the period. Headinvest LLC acquired a new stake in shares of Enterprise Products Partners during the third quarter worth $62,000. Anchor Investment Management LLC bought a new stake in shares of Enterprise Products Partners in the fourth quarter valued at about $967,000. Doliver Advisors LP grew its stake in shares of Enterprise Products Partners by 1.9% in the fourth quarter. Doliver Advisors LP now owns 101,428 shares of the oil and gas producer’s stock valued at $2,673,000 after acquiring an additional 1,850 shares in the last quarter. Finally, Compass Wealth Management LLC raised its stake in Enterprise Products Partners by 97.7% in the 4th quarter. Compass Wealth Management LLC now owns 4,250 shares of the oil and gas producer’s stock worth $112,000 after purchasing an additional 2,100 shares in the last quarter. 26.07% of the stock is owned by 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.