Enterprise Products Partners L.P. (NYSE:EPD – Get Free Report)’s share price traded up 0.5% during trading on Thursday . The stock traded as high as $33.67 and last traded at $33.50. 739,779 shares were traded during mid-day trading, a decline of 79% from the average session volume of 3,587,921 shares. The stock had previously closed at $33.34.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on the company. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a research report on Wednesday, December 18th. Royal Bank of Canada restated an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Scotiabank initiated coverage on Enterprise Products Partners in a research report on Friday, January 10th. They set a “sector perform” rating and a $33.00 target price on the stock. Finally, Truist Financial increased their target price 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. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $34.60.
Get Our Latest Stock Report on Enterprise Products Partners
Enterprise Products Partners Trading Down 0.2 %
Enterprise Products Partners (NYSE:EPD – Get Free Report) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The firm had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.60 EPS. As a group, equities research analysts predict that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.
Enterprise Products Partners Increases Dividend
The business 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 dividend of $0.535 per share. This is a boost 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 6.37%. The ex-dividend date is Friday, January 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 78.65%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Veracity Capital LLC grew its stake in shares of Enterprise Products Partners by 1.4% during the fourth quarter. Veracity Capital LLC now owns 40,231 shares of the oil and gas producer’s stock valued at $1,262,000 after buying an additional 575 shares during the last quarter. Red Door Wealth Management LLC boosted its holdings in shares of Enterprise Products Partners by 1.6% during the fourth quarter. Red Door Wealth Management LLC now owns 44,654 shares of the oil and gas producer’s stock worth $1,400,000 after purchasing an additional 699 shares during the period. Endeavor Private Wealth Inc. purchased a new stake in shares of Enterprise Products Partners during the fourth quarter worth about $84,000. Mutual Advisors LLC boosted its holdings in shares of Enterprise Products Partners by 7.8% during the fourth quarter. Mutual Advisors LLC now owns 200,941 shares of the oil and gas producer’s stock worth $6,766,000 after purchasing an additional 14,454 shares during the period. Finally, Traynor Capital Management Inc. purchased a new stake in shares of Enterprise Products Partners during the fourth quarter worth about $212,000. 26.07% of the stock is owned by 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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