Enterprise Products Partners (NYSE:EPD) Stock Price Up 0.4% – Here’s What Happened

Enterprise Products Partners L.P. (NYSE:EPD) shot up 0.4% on Tuesday . The stock traded as high as $29.46 and last traded at $29.25. 1,153,680 shares changed hands during trading, a decline of 73% from the average session volume of 4,279,219 shares. The stock had previously closed at $29.13.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Bank of America initiated coverage on Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective for the company. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Truist Financial lifted their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Finally, StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a hold rating, ten 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 a consensus rating of “Buy” and a consensus target price of $34.00.

Enterprise Products Partners Trading Up 1.0 %

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91. The company’s fifty day moving average is $29.24 and its two-hundred day moving average is $28.97. The company has a market cap of $65.68 billion, a price-to-earnings ratio of 11.33, a P/E/G ratio of 1.33 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.39% and a net margin of 10.32%. The business had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same period last year, the firm earned $0.60 EPS. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, research analysts anticipate that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 6.94%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 78.65%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. O Shaughnessy Asset Management LLC boosted its stake in Enterprise Products Partners by 19.1% in the 1st 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 last quarter. Sanders Morris Harris LLC lifted its position in shares of Enterprise Products Partners by 28.1% in the 3rd quarter. Sanders Morris Harris LLC now owns 705,804 shares of the oil and gas producer’s stock worth $20,546,000 after buying an additional 154,822 shares during the last quarter. Catalyst Capital Advisors LLC increased its holdings in shares of Enterprise Products Partners by 5.8% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 477,341 shares of the oil and gas producer’s stock worth $13,895,000 after acquiring an additional 26,136 shares during the period. Pathway Financial Advisers LLC boosted its position in Enterprise Products Partners by 2,862.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock worth $225,777,000 after acquiring an additional 7,494,224 shares during the period. Finally, Nwam LLC increased its stake in shares of Enterprise Products Partners by 25.1% during the first quarter. Nwam LLC now owns 20,822 shares of the oil and gas producer’s stock valued at $591,000 after acquiring an additional 4,184 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

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.