Enterprise Products Partners (NYSE:EPD) Shares Up 0.2%

Shares of Enterprise Products Partners L.P. (NYSE:EPD) traded up 0.2% during mid-day trading on Thursday . The company traded as high as $29.73 and last traded at $29.54. 369,775 shares traded hands during trading, a decline of 92% from the average session volume of 4,434,489 shares. The stock had previously closed at $29.49.

Analysts Set New Price Targets

A number of brokerages have issued reports on EPD. Truist Financial increased their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Morgan Stanley dropped their target price on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Monday, June 10th. Finally, StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $33.08.

Enterprise Products Partners Trading Down 0.2 %

The stock has a market cap of $63.93 billion, a P/E ratio of 11.58, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. The business’s fifty day simple moving average is $29.22 and its 200 day simple moving average is $28.87.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $14.23 billion. During the same quarter in the previous year, the company posted $0.57 earnings per share. The business’s revenue for the quarter was up 26.6% on a year-over-year basis. As a group, analysts expect that Enterprise Products Partners L.P. will post 2.72 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were issued a dividend of $0.525 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $2.10 dividend on an annualized basis and a yield of 7.13%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.35%.

Institutional Investors Weigh In On Enterprise Products Partners

Several large investors have recently bought and sold shares of EPD. Cadence Bank boosted its position in shares of Enterprise Products Partners by 0.7% during the first quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock worth $1,530,000 after buying an additional 365 shares during the period. McAdam LLC lifted its stake in 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 acquiring an additional 372 shares during the last quarter. Advisor OS LLC increased its position 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 worth $854,000 after buying an additional 379 shares during the last quarter. Ellsworth Advisors LLC raised its stake in Enterprise Products Partners by 1.8% in 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 position in shares of Enterprise Products Partners by 2.5% in the second quarter. Stokes Family Office LLC now owns 16,139 shares of the oil and gas producer’s stock valued at $468,000 after buying an additional 399 shares during 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.