Enterprise Products Partners (NYSE:EPD) Shares Up 1% Following Dividend Announcement

Enterprise Products Partners L.P. (NYSE:EPD) was up 1% during mid-day trading on Wednesday following a dividend announcement from the company. The stock traded as high as $32.39 and last traded at $32.24. Approximately 1,159,455 shares were traded during trading, a decline of 58% from the average daily volume of 2,780,008 shares. The stock had previously closed at $31.93.

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

Analyst Upgrades and Downgrades

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

Enterprise Products Partners Stock Performance

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 has a 50 day moving average price of $31.65 and a two-hundred day moving average price of $30.05. The company has a market cap of $70.27 billion, a P/E ratio of 12.14, a price-to-earnings-growth ratio of 1.66 and a beta of 1.09.

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

Institutional Investors Weigh In On Enterprise Products Partners

Large investors have recently bought and sold shares of the business. Worth Asset Management LLC purchased a new stake in Enterprise Products Partners during the fourth quarter valued at approximately $201,000. Birch Capital Management LLC boosted its holdings in shares of Enterprise Products Partners by 0.3% during the 4th quarter. Birch Capital Management LLC now owns 168,540 shares of the oil and gas producer’s stock valued at $5,285,000 after purchasing an additional 465 shares during the last quarter. Bangor Savings Bank grew its holdings in Enterprise Products Partners by 558.3% during the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after buying an additional 1,072 shares in the last quarter. Fortem Financial Group LLC increased its position in Enterprise Products Partners by 7.9% in the fourth quarter. Fortem Financial Group LLC now owns 29,112 shares of the oil and gas producer’s stock worth $913,000 after purchasing an additional 2,124 shares during the last quarter. Finally, Doliver Advisors LP raised its position in Enterprise Products Partners by 0.6% during the fourth quarter. Doliver Advisors LP now owns 99,013 shares of the oil and gas producer’s stock valued at $3,105,000 after purchasing an additional 615 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.