Enterprise Products Partners (NYSE:EPD) Trading Up 0% – Here’s Why

Enterprise Products Partners L.P. (NYSE:EPD)’s share price rose 0% during mid-day trading on Friday . The stock traded as high as $33.95 and last traded at $33.67. Approximately 794,310 shares changed hands during trading, a decline of 79% from the average daily volume of 3,752,877 shares. The stock had previously closed at $33.67.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Bank of America started coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price for the company. Scotiabank started coverage on Enterprise Products Partners in a report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price objective on the stock. 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. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.60.

Enterprise Products Partners Stock Down 0.2 %

The stock has a fifty day moving average price of $32.38 and a 200-day moving average price of $30.39. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The firm has a market cap of $72.81 billion, a PE ratio of 12.58, a PEG ratio of 1.60 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data 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). 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%. Enterprise Products Partners’s revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.60 EPS. Research analysts expect that Enterprise Products Partners L.P. will post 2.67 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a $0.535 dividend. The ex-dividend date is Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 6.37%. Enterprise Products Partners’s dividend payout ratio (DPR) is 78.65%.

Institutional Investors Weigh In On Enterprise Products Partners

Several institutional investors and hedge funds have recently modified their holdings of EPD. Rosenberg Matthew Hamilton lifted its position in Enterprise Products Partners by 364.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 656 shares in the last quarter. DiNuzzo Private Wealth Inc. raised its stake in shares of Enterprise Products Partners by 1,000.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 1,000 shares during the period. Assetmark Inc. lifted its position in shares of Enterprise Products Partners by 19,800.0% during the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after purchasing an additional 1,188 shares in the last quarter. Sanctuary Wealth Management L.L.C. purchased a new position in shares of Enterprise Products Partners in the third quarter valued at $36,000. Finally, Bangor Savings Bank grew its holdings in Enterprise Products Partners by 558.3% during the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after purchasing an additional 1,072 shares in the last quarter. Hedge funds and other institutional investors 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.