Enterprise Products Partners (NYSE:EPD) Trading Up 1.1%

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price shot up 1.1% on Wednesday . The company traded as high as $28.60 and last traded at $28.57. 1,249,878 shares changed hands during trading, a decline of 73% from the average session volume of 4,613,426 shares. The stock had previously closed at $28.27.

Analysts Set New Price Targets

A number of research firms have recently weighed in on EPD. Morgan Stanley cut their target price on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Monday, June 10th. Truist Financial boosted their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. lowered their price target on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Thursday, May 16th. Finally, StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.08.

Enterprise Products Partners Stock Up 0.5 %

The company has a debt-to-equity ratio of 0.99, a current ratio of 0.93 and a quick ratio of 0.68. The company has a market capitalization of $63.34 billion, a P/E ratio of 11.38, a P/E/G ratio of 1.33 and a beta of 1.04. The stock has a 50-day moving average price of $28.99 and a 200-day moving average price of $28.49.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The business 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 20.18% and a net margin of 10.48%. The company’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 firm posted $0.57 earnings per share. On average, 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 7.20%. The ex-dividend date of this dividend was Wednesday, July 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.35%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of hedge funds have recently added to or reduced their stakes in the company. Cadence Bank grew its stake in Enterprise Products Partners by 0.7% in the first quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock valued at $1,530,000 after acquiring an additional 365 shares during the period. McAdam LLC boosted its position in shares of Enterprise Products Partners by 1.3% during the second quarter. McAdam LLC now owns 28,670 shares of the oil and gas producer’s stock valued at $831,000 after buying an additional 372 shares during the last quarter. Advisor OS LLC boosted its position in shares of Enterprise Products Partners by 1.3% during the second quarter. Advisor OS LLC now owns 29,485 shares of the oil and gas producer’s stock valued at $854,000 after buying an additional 379 shares during the last quarter. Ellsworth Advisors LLC boosted its position in shares of Enterprise Products Partners by 1.8% during the second quarter. Ellsworth Advisors LLC now owns 21,959 shares of the oil and gas producer’s stock valued at $636,000 after buying an additional 383 shares during the last quarter. Finally, Stokes Family Office LLC boosted its position in shares of Enterprise Products Partners by 2.5% during the second quarter. Stokes Family Office LLC now owns 16,139 shares of the oil and gas producer’s stock valued at $468,000 after buying an additional 399 shares during the last quarter. Institutional investors and hedge funds 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.