Enterprise Products Partners (NYSE:EPD) Stock Price Down 0.4%

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price fell 0.4% during mid-day trading on Friday . The company traded as low as $29.25 and last traded at $29.28. 450,942 shares were traded during trading, a decline of 90% from the average session volume of 4,426,486 shares. The stock had previously closed at $29.39.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on EPD shares. Truist Financial upped their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Finally, Morgan Stanley cut their price target 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 issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Enterprise Products Partners currently has an average rating of “Moderate Buy” and a consensus price target of $33.08.

Enterprise Products Partners Trading Down 0.4 %

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 company has a market capitalization of $63.58 billion, a price-to-earnings ratio of 11.48, a P/E/G ratio of 1.49 and a beta of 1.03. The company has a 50-day moving average price of $29.22 and a 200-day moving average price of $28.87.

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 the consensus estimate 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 company had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $14.23 billion. During the same quarter in the previous year, the firm posted $0.57 EPS. The business’s revenue for the quarter was up 26.6% compared to the same quarter last year. Research analysts predict that Enterprise Products Partners L.P. will post 2.72 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 7.17%. The ex-dividend date of this dividend was Wednesday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s payout ratio is 82.35%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Hantz Financial Services Inc. acquired a new position in shares of Enterprise Products Partners in the 2nd quarter worth approximately $25,000. Burkett Financial Services LLC acquired a new position in Enterprise Products Partners in the fourth quarter worth $28,000. Stephens Consulting LLC bought a new stake in shares of Enterprise Products Partners during the first quarter worth $29,000. Palisade Asset Management LLC acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at $29,000. Finally, Mascoma Wealth Management LLC bought a new position in shares of Enterprise Products Partners in the second quarter valued at about $29,000. 26.07% of the stock is 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.