Enterprise Products Partners (NYSE:EPD) Stock Price Up 0.5% – Here’s What Happened

Enterprise Products Partners L.P. (NYSE:EPD) shares rose 0.5% on Monday . The company traded as high as $30.62 and last traded at $30.56. Approximately 713,822 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 4,286,852 shares. The stock had previously closed at $30.42.

Analysts Set New Price Targets

Several research firms recently commented on EPD. Truist Financial boosted their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Bank of America started coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Finally, StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $34.00.

Enterprise Products Partners Stock Down 0.1 %

The firm’s fifty day moving average is $29.33 and its 200 day moving average is $29.01. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.68 and a current ratio of 1.07. The firm has a market cap of $65.88 billion, a P/E ratio of 11.37, a P/E/G ratio of 1.57 and a beta of 1.04.

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 the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The firm had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same period in the previous year, the business posted $0.60 earnings per share. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 6.91%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is 78.65%.

Hedge Funds Weigh In On Enterprise Products Partners

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Street Partners LLC raised its position in shares of Enterprise Products Partners by 2.7% during the third quarter. Principal Street Partners LLC now owns 16,470 shares of the oil and gas producer’s stock worth $478,000 after acquiring an additional 427 shares during the last quarter. Partners Group Holding AG grew its position in shares of Enterprise Products Partners by 7.2% during the 3rd quarter. Partners Group Holding AG now owns 19,306 shares of the oil and gas producer’s stock worth $562,000 after buying an additional 1,298 shares during the period. D.A. Davidson & CO. increased its stake in Enterprise Products Partners by 1.9% in the third quarter. D.A. Davidson & CO. now owns 470,501 shares of the oil and gas producer’s stock valued at $13,696,000 after purchasing an additional 8,829 shares in the last quarter. FMR LLC raised its stake in Enterprise Products Partners by 9.3% during the 3rd 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 during the period. Finally, Summit Financial Wealth Advisors LLC bought a new position in Enterprise Products Partners in the third quarter worth approximately $237,000. 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.