Enterprise Products Partners (NYSE:EPD) Shares Down 0.1%

Enterprise Products Partners L.P. (NYSE:EPD) shares dropped 0.1% during mid-day trading on Tuesday . The company traded as low as $28.87 and last traded at $28.92. Approximately 777,185 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 4,880,045 shares. The stock had previously closed at $28.95.

Wall Street Analysts Forecast Growth

EPD has been the topic of several research reports. StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 9th. Truist Financial increased their target price on Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Wells Fargo & Company increased their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 target price on shares of Enterprise Products Partners in a research report on Tuesday, February 13th. Finally, Barclays increased their price target on Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $32.55.

Enterprise Products Partners Price Performance

The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93. The company has a market capitalization of $62.98 billion, a PE ratio of 11.53 and a beta of 1.02. The stock has a 50 day moving average price of $27.51 and a two-hundred day moving average price of $27.01.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Thursday, February 1st. The oil and gas producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. The business had revenue of $14.62 billion for the quarter, compared to analyst estimates of $12.43 billion. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.65 EPS. Equities analysts forecast that Enterprise Products Partners L.P. will post 2.64 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st were issued a dividend of $0.515 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.09%. Enterprise Products Partners’s dividend payout ratio is currently 81.75%.

Institutional Trading of Enterprise Products Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EPD. Fairfield Bush & CO. acquired a new stake in Enterprise Products Partners in the 1st quarter valued at approximately $31,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Enterprise Products Partners by 2.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,571,535 shares of the oil and gas producer’s stock valued at $169,611,000 after buying an additional 169,059 shares during the last quarter. BlackRock Inc. grew its holdings in Enterprise Products Partners by 4.7% in the 1st quarter. BlackRock Inc. now owns 25,050,292 shares of the oil and gas producer’s stock valued at $646,548,000 after buying an additional 1,114,690 shares during the last quarter. Cibc World Market Inc. grew its holdings in Enterprise Products Partners by 3.2% in the 1st quarter. Cibc World Market Inc. now owns 89,367 shares of the oil and gas producer’s stock valued at $2,307,000 after buying an additional 2,804 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Enterprise Products Partners by 76.5% during the 1st quarter. Sei Investments Co. now owns 888,439 shares of the oil and gas producer’s stock worth $22,931,000 after purchasing an additional 385,008 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

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.