Enterprise Products Partners (NYSE:EPD) Trading 0.1% Higher – Here’s Why

Shares of Enterprise Products Partners L.P. (NYSE:EPD) traded up 0.1% on Wednesday . The stock traded as high as $31.87 and last traded at $31.67. 402,247 shares changed hands during trading, a decline of 91% from the average session volume of 4,285,910 shares. The stock had previously closed at $31.63.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Truist Financial boosted their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Bank of America assumed coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price target on the stock. One research 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. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $34.00.

Enterprise Products Partners Stock Up 0.2 %

The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The stock has a market cap of $70.23 billion, a PE ratio of 12.11, a P/E/G ratio of 1.63 and a beta of 1.04. The business has a 50 day moving average price of $29.66 and a 200 day moving average price of $29.16.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The business had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 EPS. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.525 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.48%. Enterprise Products Partners’s payout ratio is currently 78.65%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of hedge funds have recently made changes to their positions in EPD. Curi RMB Capital LLC increased its holdings in shares of Enterprise Products Partners by 0.5% in the third quarter. Curi RMB Capital LLC now owns 73,828 shares of the oil and gas producer’s stock valued at $2,149,000 after purchasing an additional 339 shares during the last quarter. Zega Financial LLC boosted its position in shares of Enterprise Products Partners by 1.7% during the third quarter. Zega Financial LLC now owns 20,870 shares of the oil and gas producer’s stock worth $608,000 after buying an additional 344 shares during the period. Tranquility Partners LLC boosted its position in shares of Enterprise Products Partners by 1.5% during the third quarter. Tranquility Partners LLC now owns 23,204 shares of the oil and gas producer’s stock worth $675,000 after buying an additional 346 shares during the period. Princeton Global Asset Management LLC boosted its position in shares of Enterprise Products Partners by 4.9% during the third quarter. Princeton Global Asset Management LLC now owns 7,510 shares of the oil and gas producer’s stock worth $219,000 after buying an additional 350 shares during the period. Finally, Strategic Wealth Partners Ltd. boosted its position in shares of Enterprise Products Partners by 3.8% during the third quarter. Strategic Wealth Partners Ltd. now owns 9,731 shares of the oil and gas producer’s stock worth $283,000 after buying an additional 353 shares during the period. 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.