Enterprise Products Partners (NYSE:EPD) Stock Price Up 0.2%

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price rose 0.2% during trading on Monday . The stock traded as high as $29.10 and last traded at $29.08. Approximately 376,930 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 4,403,805 shares. The stock had previously closed at $29.01.

Analyst Ratings Changes

EPD has been the subject of several research analyst reports. StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 4th. Scotiabank raised their target price on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 4th. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 price objective on shares of Enterprise Products Partners in a research note on Friday, April 5th. Morgan Stanley dropped their price objective on shares of 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 boosted their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $32.77.

Enterprise Products Partners Price Performance

The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $63.33 billion, a PE ratio of 11.43, a PEG ratio of 1.36 and a beta of 1.04. The firm’s fifty day simple moving average is $28.55 and its 200-day simple moving average is $28.04.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.02. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.73%. The firm had revenue of $14.76 billion during the quarter, compared to analysts’ expectations of $13.82 billion. During the same period in the previous year, the company earned $0.64 earnings per share. The firm’s quarterly revenue was up 18.6% on a year-over-year basis. On average, research analysts forecast that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st will be given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 7.20%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s payout ratio is 80.78%.

Institutional Trading of Enterprise Products Partners

Several large investors have recently added to or reduced their stakes in the business. Cadence Bank increased its stake in Enterprise Products Partners by 0.7% in the 1st quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock worth $1,530,000 after buying an additional 365 shares during the period. Hazlett Burt & Watson Inc. increased its stake in Enterprise Products Partners by 8.2% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 4,897 shares of the oil and gas producer’s stock worth $128,000 after buying an additional 371 shares during the period. Ellsworth Advisors LLC increased its stake in Enterprise Products Partners by 1.9% in the 4th quarter. Ellsworth Advisors LLC now owns 21,173 shares of the oil and gas producer’s stock worth $558,000 after buying an additional 393 shares during the period. Register Financial Advisors LLC increased its stake in Enterprise Products Partners by 2.3% in the 4th quarter. Register Financial Advisors LLC now owns 17,320 shares of the oil and gas producer’s stock worth $456,000 after buying an additional 397 shares during the period. Finally, Stokes Family Office LLC increased its stake in Enterprise Products Partners by 2.5% in the 2nd quarter. Stokes Family Office LLC now owns 16,139 shares of the oil and gas producer’s stock worth $468,000 after buying an additional 399 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.