Enterprise Products Partners (NYSE:EPD) Shares Up 1.5% Following Dividend Announcement

Enterprise Products Partners L.P. (NYSE:EPD) rose 1.5% during trading on Thursday after the company announced a dividend. The stock traded as high as $32.45 and last traded at $32.42. Approximately 3,726,075 shares changed hands during trading, a decline of 11% from the average daily volume of 4,205,669 shares. The stock had previously closed at $31.93.

The newly announced dividend which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a dividend of $0.535 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a dividend yield of 6.60%. The ex-dividend date of this dividend is Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is currently 80.15%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Bank of America started coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price for the company. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research note on Wednesday, December 18th. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Finally, Truist Financial raised their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.50.

Enterprise Products Partners Trading Up 1.5 %

The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The business’s 50 day moving average price is $31.65 and its 200-day moving average price is $30.05. The company has a market cap of $70.27 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 1.66 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter in the prior year, the business earned $0.60 EPS. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, research analysts forecast that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Institutional Trading of Enterprise Products Partners

A number of large investors have recently bought and sold shares of EPD. Pathway Financial Advisers LLC lifted its holdings in shares of Enterprise Products Partners by 2,862.8% during the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after acquiring an additional 7,494,224 shares during the period. Barclays PLC boosted its position in Enterprise Products Partners by 110.0% in the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock valued at $73,699,000 after buying an additional 1,326,010 shares in the last quarter. International Assets Investment Management LLC grew its stake in Enterprise Products Partners by 2,854.1% during the third quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock worth $37,474,000 after buying an additional 1,243,741 shares during the last quarter. FMR LLC increased its holdings in shares of Enterprise Products Partners by 9.3% during the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after buying an additional 1,225,988 shares in the last quarter. Finally, Merewether Investment Management LP bought a new position in shares of Enterprise Products Partners in the third quarter valued at approximately $30,746,000. 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.