Enterprise Products Partners (NYSE:EPD) Stock Price Up 0.2% – What’s Next?

Enterprise Products Partners L.P. (NYSE:EPD) shares were up 0.2% on Tuesday . The stock traded as high as $34.05 and last traded at $33.98. Approximately 494,694 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 4,125,125 shares. The stock had previously closed at $33.92.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on EPD shares. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a research report on Wednesday, December 18th. Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Truist Financial upped their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Scotiabank increased their target price on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research report on Thursday, March 6th. Finally, Barclays increased their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Enterprise Products Partners currently has an average rating of “Moderate Buy” and a consensus price target of $35.90.

Enterprise Products Partners Price Performance

The stock has a market cap of $73.24 billion, a price-to-earnings ratio of 12.58, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08. The stock’s 50 day moving average price is $33.27 and its two-hundred day moving average price is $31.44. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.72 earnings per share. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 6.33%. The ex-dividend date was Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 79.55%.

Institutional Trading of Enterprise Products Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EPD. Kayne Anderson Capital Advisors LP lifted its holdings in Enterprise Products Partners by 16.7% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock valued at $426,125,000 after purchasing an additional 1,947,017 shares in the last quarter. Barclays PLC lifted its stake in shares of Enterprise Products Partners by 110.0% in the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock worth $73,699,000 after buying an additional 1,326,010 shares in the last quarter. FMR LLC lifted its stake in shares of Enterprise Products Partners by 9.3% in the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after buying an additional 1,225,988 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Enterprise Products Partners in the fourth quarter worth about $36,279,000. Finally, Merewether Investment Management LP purchased a new position in shares of Enterprise Products Partners in the third quarter worth about $30,746,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

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.