Enterprise Products Partners (NYSE:EPD) Trading Up 0.6% – Here’s Why

Enterprise Products Partners L.P. (NYSE:EPD) shares traded up 0.6% during trading on Monday . The stock traded as high as $32.82 and last traded at $32.85. 2,155,044 shares were traded during trading, a decline of 53% from the average session volume of 4,564,155 shares. The stock had previously closed at $32.65.

Wall Street Analyst Weigh In

EPD has been the subject of several research analyst reports. Truist Financial boosted their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Wells Fargo & Company lowered Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a research note on Wednesday, December 18th. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Scotiabank assumed coverage on Enterprise Products Partners in a research report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price target on the stock. Finally, Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $34.44.

Enterprise Products Partners Stock Up 0.6 %

The firm has a fifty day simple moving average of $32.55 and a 200-day simple moving average of $30.59. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $71.94 billion, a P/E ratio of 12.43, a P/E/G ratio of 1.54 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.05. The firm had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter last year, the business posted $0.72 EPS. On average, equities research analysts expect that Enterprise Products Partners L.P. will post 2.67 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a $0.535 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 6.45%. The ex-dividend date is Friday, January 31st. Enterprise Products Partners’s payout ratio is presently 80.15%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of large investors have recently modified their holdings of the business. Verity & Verity LLC raised its holdings in Enterprise Products Partners by 30.8% during the fourth quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock worth $3,470,000 after acquiring an additional 26,032 shares in the last quarter. Paragon Advisors LLC bought a new stake in shares of Enterprise Products Partners during the 3rd quarter worth approximately $2,628,000. FMR LLC boosted its holdings in shares of Enterprise Products Partners by 9.3% in the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after buying an additional 1,225,988 shares during the last quarter. Peapack Gladstone Financial Corp grew its stake in shares of Enterprise Products Partners by 61.7% in the third quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock valued at $3,954,000 after buying an additional 51,809 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in Enterprise Products Partners by 5.2% during the third quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock worth $118,561,000 after buying an additional 200,625 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

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.