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

Enterprise Products Partners L.P. (NYSE:EPD)’s share price traded up 0.1% on Wednesday after Royal Bank of Canada raised their price target on the stock from $35.00 to $36.00. Royal Bank of Canada currently has an outperform rating on the stock. Enterprise Products Partners traded as high as $29.35 and last traded at $29.21. 417,655 shares were traded during trading, a decline of 90% from the average session volume of 4,299,024 shares. The stock had previously closed at $29.17.

A number of other brokerages have also weighed in on EPD. Truist Financial boosted their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $33.73.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Hantz Financial Services Inc. bought a new position in shares of Enterprise Products Partners in the 2nd quarter valued at about $25,000. Stephens Consulting LLC bought a new position in shares of Enterprise Products Partners in the 1st quarter valued at about $29,000. Palisade Asset Management LLC bought a new position in shares of Enterprise Products Partners in the 1st quarter valued at about $29,000. Mascoma Wealth Management LLC bought a new position in shares of Enterprise Products Partners in the 2nd quarter valued at about $29,000. Finally, DiNuzzo Private Wealth Inc. lifted its holdings in shares of Enterprise Products Partners by 1,000.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 0.2 %

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 stock’s fifty day moving average is $29.21 and its 200 day moving average is $28.97. The stock has a market cap of $63.27 billion, a P/E ratio of 11.43, a P/E/G ratio of 1.49 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The firm had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $14.23 billion. During the same period last year, the company earned $0.57 earnings per share. The business’s revenue for the quarter was up 26.6% compared to the same quarter last year. As a group, equities research analysts predict that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 7.21%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 82.35%.

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.