Enterprise Products Partners (NYSE:EPD) Shares Down 0.3%

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price was down 0.3% on Tuesday . The company traded as low as $29.60 and last traded at $29.61. Approximately 515,738 shares changed hands during trading, a decline of 88% from the average daily volume of 4,446,989 shares. The stock had previously closed at $29.69.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on EPD shares. StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Truist Financial increased their price objective 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. Finally, Morgan Stanley dropped their price objective on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Monday, June 10th. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $33.08.

Enterprise Products Partners Stock Performance

The business has a fifty day simple moving average of $29.22 and a 200-day simple moving average of $28.87. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The firm has a market cap of $64.02 billion, a P/E ratio of 11.56, 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The firm had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $14.23 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. Enterprise Products Partners’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.57 EPS. On average, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.72 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were issued a $0.525 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. 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 7.12%. Enterprise Products Partners’s dividend payout ratio is 82.35%.

Hedge Funds Weigh In On Enterprise Products Partners

Institutional investors have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. bought a new position in Enterprise Products Partners in the second quarter worth $25,000. Stephens Consulting LLC bought a new position in shares of Enterprise Products Partners during the first quarter valued at $29,000. Palisade Asset Management LLC bought a new position in shares of Enterprise Products Partners during the first quarter valued at $29,000. Mascoma Wealth Management LLC bought a new position in shares of Enterprise Products Partners during the second quarter valued at $29,000. Finally, Burkett Financial Services LLC bought a new position in shares of Enterprise Products Partners during the fourth quarter valued at $28,000. Institutional investors own 26.07% of the company’s stock.

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.