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

Enterprise Products Partners L.P. (NYSE:EPD) fell 0.3% during mid-day trading on Tuesday . The stock traded as low as $29.60 and last traded at $29.61. 515,738 shares changed hands during trading, a decline of 88% from the average session volume of 4,446,989 shares. The stock had previously closed at $29.69.

Analyst Ratings Changes

Several research analysts recently commented on the company. Morgan Stanley dropped 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 report on Monday, June 10th. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Finally, Truist Financial increased their price target on 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 given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.08.

Enterprise Products Partners Stock Performance

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 $63.78 billion, a PE ratio of 11.61, a PEG ratio of 1.49 and a beta of 1.03. The firm has a 50-day moving average of $29.21 and a two-hundred day moving average of $28.85.

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 for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The company had revenue of $13.48 billion for the quarter, compared to analyst estimates of $14.23 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The business’s revenue was up 26.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.57 earnings per share. Research analysts anticipate that Enterprise Products Partners L.P. will post 2.72 EPS for the current 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 dividend of $0.525 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a yield of 7.15%. The ex-dividend date of this dividend was Wednesday, July 31st. Enterprise Products Partners’s payout ratio is 82.35%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. acquired a new position in Enterprise Products Partners during the second quarter worth about $25,000. Stephens Consulting LLC acquired a new position in shares of Enterprise Products Partners in the 1st quarter worth approximately $29,000. Palisade Asset Management LLC purchased a new stake in Enterprise Products Partners in the first quarter valued at approximately $29,000. Mascoma Wealth Management LLC purchased a new position in Enterprise Products Partners during the 2nd quarter valued at about $29,000. Finally, Burkett Financial Services LLC purchased a new stake in Enterprise Products Partners during the fourth quarter worth about $28,000. Hedge funds and other 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.