Enterprise Products Partners (NYSE:EPD) Trading 0.3% Higher – What’s Next?

Enterprise Products Partners L.P. (NYSE:EPD) shares were up 0.3% during mid-day trading on Wednesday . The company traded as high as $34.02 and last traded at $33.80. Approximately 771,892 shares were traded during trading, a decline of 81% from the average daily volume of 4,120,837 shares. The stock had previously closed at $33.71.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on EPD shares. Royal Bank of Canada reissued an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Truist Financial increased their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Scotiabank assumed coverage on Enterprise Products Partners in a research report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price objective on the stock. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a research report on Wednesday, December 18th. Finally, US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.60.

Enterprise Products Partners Stock Performance

The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The firm has a market cap of $72.85 billion, a price-to-earnings ratio of 12.60, a P/E/G ratio of 1.60 and a beta of 1.09. The firm has a fifty day simple moving average of $32.46 and a two-hundred day simple moving average of $30.46.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same period in the prior year, the business posted $0.60 EPS. Enterprise Products Partners’s revenue was up 14.8% compared to the same quarter last year. On average, analysts expect that Enterprise Products Partners L.P. will post 2.67 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 6.37%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, January 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 78.65%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EPD. Pathway Financial Advisers LLC raised its stake in shares of Enterprise Products Partners by 2,862.8% in the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock worth $225,777,000 after purchasing an additional 7,494,224 shares during the last quarter. Barclays PLC raised its position in Enterprise Products Partners by 110.0% during the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock valued at $73,699,000 after acquiring an additional 1,326,010 shares in the last quarter. International Assets Investment Management LLC raised its position in Enterprise Products Partners by 2,854.1% during the third quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock valued at $37,474,000 after acquiring an additional 1,243,741 shares in the last quarter. FMR LLC raised its position in Enterprise Products Partners by 9.3% during the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after acquiring an additional 1,225,988 shares in the last quarter. Finally, Merewether Investment Management LP purchased a new position in Enterprise Products Partners during the third quarter valued at approximately $30,746,000. 26.07% of the stock is currently 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.