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

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price was up 0.1% during trading on Wednesday . The company traded as high as $29.69 and last traded at $29.56. Approximately 340,276 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 4,445,555 shares. The stock had previously closed at $29.52.

Analyst Ratings Changes

EPD has been the subject of a number of research reports. StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Morgan Stanley cut their target price on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Monday, June 10th. Finally, Truist Financial boosted their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Enterprise Products Partners presently has an average rating of “Moderate Buy” and a consensus price target of $33.08.

Enterprise Products Partners Stock Up 0.1 %

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91. The company’s fifty day moving average price is $29.21 and its 200-day moving average price is $28.87. The stock has a market cap of $64.19 billion, a P/E ratio of 11.59, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.02). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The business had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $14.23 billion. During the same quarter last year, the firm earned $0.57 EPS. The firm’s quarterly revenue was up 26.6% on a year-over-year basis. Equities analysts forecast that Enterprise Products Partners L.P. will post 2.72 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 7.10%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date was Wednesday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.35%.

Hedge Funds Weigh In On Enterprise Products Partners

Hedge funds have recently added to or reduced their stakes in the stock. Cadence Bank raised its holdings in shares of Enterprise Products Partners by 0.7% in the first quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock valued at $1,530,000 after acquiring an additional 365 shares in the last quarter. McAdam LLC lifted its position in shares of Enterprise Products Partners by 1.3% in the 2nd quarter. McAdam LLC now owns 28,670 shares of the oil and gas producer’s stock worth $831,000 after purchasing an additional 372 shares during the period. Advisor OS LLC increased its holdings in Enterprise Products Partners by 1.3% during the second quarter. Advisor OS LLC now owns 29,485 shares of the oil and gas producer’s stock valued at $854,000 after buying an additional 379 shares during the period. Ellsworth Advisors LLC increased its holdings in Enterprise Products Partners by 1.8% during the second quarter. Ellsworth Advisors LLC now owns 21,959 shares of the oil and gas producer’s stock valued at $636,000 after buying an additional 383 shares during the period. Finally, Stokes Family Office LLC lifted its holdings in Enterprise Products Partners by 2.5% during the second quarter. Stokes Family Office LLC now owns 16,139 shares of the oil and gas producer’s stock worth $468,000 after buying an additional 399 shares during the period. 26.07% of the stock is currently owned by institutional investors.

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.