Enterprise Products Partners (NYSE:EPD) Shares Up 0.7% – What’s Next?

Enterprise Products Partners L.P. (NYSE:EPD) rose 0.7% during trading on Wednesday . The stock traded as high as $29.39 and last traded at $29.30. Approximately 1,304,265 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 4,270,906 shares. The stock had previously closed at $29.10.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday. Bank of America assumed coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday. Truist Financial raised their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $33.73.

Enterprise Products Partners Stock Up 0.9 %

The company has a market capitalization of $63.72 billion, a P/E ratio of 11.20, a P/E/G ratio of 1.32 and a beta of 1.03. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The firm has a fifty day simple moving average of $29.24 and a 200-day simple moving average of $28.94.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The business had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. During the same period in the previous year, the company posted $0.60 earnings per share. Enterprise Products Partners’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, equities research analysts expect that Enterprise Products Partners L.P. will post 2.7 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.15%. Enterprise Products Partners’s payout ratio is 80.15%.

Hedge Funds Weigh In On Enterprise Products Partners

Large investors have recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC boosted its position in shares of Enterprise Products Partners by 4.9% during the third quarter. Princeton Global Asset Management LLC now owns 7,510 shares of the oil and gas producer’s stock worth $219,000 after buying an additional 350 shares during the period. Strategic Wealth Partners Ltd. grew its stake in shares of Enterprise Products Partners by 3.8% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 9,731 shares of the oil and gas producer’s stock worth $283,000 after acquiring an additional 353 shares in the last quarter. Cadence Bank grew its stake in shares of Enterprise Products Partners by 0.7% during the 1st quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock worth $1,530,000 after acquiring an additional 365 shares in the last quarter. McAdam LLC raised its holdings in shares of Enterprise Products Partners by 1.3% in the second quarter. McAdam LLC now owns 28,670 shares of the oil and gas producer’s stock valued at $831,000 after purchasing an additional 372 shares during the last quarter. Finally, Ellenbecker Investment Group lifted its position in shares of Enterprise Products Partners by 1.5% in the third quarter. Ellenbecker Investment Group now owns 25,247 shares of the oil and gas producer’s stock worth $735,000 after purchasing an additional 374 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

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.