Enterprise Products Partners (NYSE:EPD) Stock Price Up 0.9%

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price rose 0.9% during trading on Monday . The company traded as high as $29.63 and last traded at $29.57. Approximately 683,193 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 4,423,094 shares. The stock had previously closed at $29.32.

Wall Street Analyst Weigh In

Several brokerages have issued reports on EPD. StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Morgan Stanley lowered their price objective on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Monday, June 10th. Finally, Truist Financial upped their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Enterprise Products Partners presently has an average rating of “Moderate Buy” and a consensus price target of $33.08.

Enterprise Products Partners Stock Performance

The company’s 50-day moving average price is $29.22 and its two-hundred day moving average price is $28.90. The stock has a market cap of $63.89 billion, a PE ratio of 11.53, a PEG ratio of 1.49 and a beta of 1.03. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91.

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 analysts’ expectations 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 in the previous year, the company posted $0.57 earnings per share. On average, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.72 EPS for the current 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 given a dividend of $0.525 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a yield of 7.14%. The ex-dividend date of this dividend was Wednesday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.35%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of hedge funds have recently made changes to their positions in the business. JRM Investment Counsel LLC lifted its stake in shares of Enterprise Products Partners by 2.1% in the 4th quarter. JRM Investment Counsel LLC now owns 505,364 shares of the oil and gas producer’s stock valued at $13,316,000 after acquiring an additional 10,404 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC boosted its stake in shares of Enterprise Products Partners by 37.5% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 881,700 shares of the oil and gas producer’s stock valued at $23,233,000 after purchasing an additional 240,300 shares during the period. O Shaughnessy Asset Management LLC increased its stake in shares of Enterprise Products Partners by 19.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock worth $685,000 after buying an additional 3,770 shares during the period. Platform Technology Partners raised its holdings in Enterprise Products Partners by 14.4% during the 4th quarter. Platform Technology Partners now owns 27,245 shares of the oil and gas producer’s stock valued at $722,000 after buying an additional 3,426 shares during the last quarter. Finally, Nwam LLC boosted its position in Enterprise Products Partners by 25.1% during the 1st quarter. Nwam LLC now owns 20,822 shares of the oil and gas producer’s stock valued at $591,000 after buying an additional 4,184 shares during the period. 26.07% of the stock is currently owned by institutional investors.

About Enterprise Products Partners

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.