Enterprise Products Partners L.P. (NYSE:EPD – Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $33.13, but opened at $32.04. Enterprise Products Partners shares last traded at $33.28, with a volume of 1,143,268 shares changing hands.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a report on Wednesday, December 18th. Bank of America assumed coverage on Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target for the company. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Finally, Scotiabank initiated coverage on Enterprise Products Partners in a report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price target for the company. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.70.
View Our Latest Stock Analysis on EPD
Enterprise Products Partners Stock Performance
Enterprise Products Partners (NYSE:EPD – Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.05. The firm had revenue of $14.20 billion during 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 business’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.72 EPS. Research analysts anticipate that Enterprise Products Partners L.P. will post 2.67 earnings per share for the current fiscal year.
Enterprise Products Partners Increases Dividend
The company also recently declared 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. The ex-dividend date 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 6.46%. Enterprise Products Partners’s dividend payout ratio (DPR) is 80.15%.
Institutional Investors Weigh In On Enterprise Products Partners
Hedge funds and other institutional investors have recently made changes to their positions in the company. Park Avenue Securities LLC increased its holdings in shares of Enterprise Products Partners by 4.2% during the 3rd quarter. Park Avenue Securities LLC now owns 36,633 shares of the oil and gas producer’s stock valued at $1,066,000 after acquiring an additional 1,474 shares during the last quarter. SL Advisors LLC increased its holdings in shares of Enterprise Products Partners by 3.1% during the 3rd quarter. SL Advisors LLC now owns 73,064 shares of the oil and gas producer’s stock valued at $2,127,000 after acquiring an additional 2,226 shares during the last quarter. Strategic Wealth Partners Ltd. increased its holdings 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 valued at $283,000 after acquiring an additional 353 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of Enterprise Products Partners during the 3rd quarter valued at about $178,000. Finally, Howard Financial Services LTD. increased its holdings in shares of Enterprise Products Partners by 1.7% during the 3rd quarter. Howard Financial Services LTD. now owns 90,724 shares of the oil and gas producer’s stock valued at $2,641,000 after acquiring an additional 1,552 shares during the last quarter. 26.07% of the stock is 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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