Enterprise Products Partners L.P. (NYSE:EPD – Get Free Report) shares were down 0.8% during mid-day trading on Friday . The company traded as low as $33.03 and last traded at $33.25. Approximately 1,504,246 shares were traded during trading, a decline of 66% from the average daily volume of 4,409,245 shares. The stock had previously closed at $33.51.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on EPD shares. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a report on Wednesday, December 18th. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Scotiabank began coverage on shares of Enterprise Products Partners in a report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price target on the stock. Bank of America initiated coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.60.
Get Our Latest Research Report on EPD
Enterprise Products Partners Price Performance
Enterprise Products Partners (NYSE:EPD – Get Free Report) 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). The firm had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. Enterprise Products Partners’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.60 earnings per share. Research analysts forecast that Enterprise Products Partners L.P. will post 2.67 earnings per share for the current year.
Enterprise Products Partners Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a $0.535 dividend. The ex-dividend date of this dividend is Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.54%. Enterprise Products Partners’s dividend payout ratio is currently 78.65%.
Hedge Funds Weigh In On Enterprise Products Partners
Several large investors have recently made changes to their positions in EPD. Rosenberg Matthew Hamilton increased its position in Enterprise Products Partners by 364.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 656 shares in the last quarter. DiNuzzo Private Wealth Inc. increased its holdings in shares of Enterprise Products Partners by 1,000.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after acquiring an additional 1,000 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Enterprise Products Partners by 19,800.0% during the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after acquiring an additional 1,188 shares in the last quarter. Sanctuary Wealth Management L.L.C. purchased a new position in shares of Enterprise Products Partners in the 3rd quarter worth about $36,000. Finally, Bangor Savings Bank boosted its stake in Enterprise Products Partners by 558.3% in the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after purchasing an additional 1,072 shares in the last quarter. 26.07% of the stock is currently 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.
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