Enterprise Products Partners (NYSE:EPD) Trading Up 0.5% – Here’s Why

Enterprise Products Partners L.P. (NYSE:EPD)’s share price shot up 0.5% on Tuesday . The stock traded as high as $33.31 and last traded at $33.27. 1,699,634 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 4,766,461 shares. The stock had previously closed at $33.12.

Analysts Set New Price Targets

EPD has been the topic of a number of research reports. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a research note on Wednesday, December 18th. Scotiabank began coverage on shares of Enterprise Products Partners in a research note on Friday, January 10th. They set a “sector perform” rating and a $33.00 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price objective 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 report on Monday, October 28th. Finally, Truist Financial increased their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $34.70.

Enterprise Products Partners Stock Down 0.2 %

The firm has a 50-day moving average price of $32.48 and a two-hundred day moving average price of $30.68. The company has a market capitalization of $71.63 billion, a P/E ratio of 12.29, a PEG ratio of 1.54 and a beta of 1.09. 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 posted its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.05. The company 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% on a year-over-year basis. During the same period last year, the business posted $0.72 EPS. Equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.87 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 6.48%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, January 31st. Enterprise Products Partners’s payout ratio is currently 79.55%.

Institutional Trading of Enterprise Products Partners

A number of hedge funds have recently modified their holdings of EPD. Sfmg LLC raised its stake in shares of Enterprise Products Partners by 31.8% in the fourth quarter. Sfmg LLC now owns 20,746 shares of the oil and gas producer’s stock valued at $651,000 after purchasing an additional 5,000 shares in the last quarter. Intellus Advisors LLC bought a new stake in Enterprise Products Partners in the 4th quarter valued at $1,947,000. Virtu Financial LLC acquired a new position in shares of Enterprise Products Partners in the 4th quarter valued at $1,098,000. ZEGA Investments LLC bought a new position in shares of Enterprise Products Partners during the 4th quarter worth about $712,000. Finally, One Charles Private Wealth Services LLC boosted its position in shares of Enterprise Products Partners by 1.4% during the 4th quarter. One Charles Private Wealth Services LLC now owns 69,202 shares of the oil and gas producer’s stock valued at $2,170,000 after acquiring an additional 975 shares in the last quarter. Institutional investors 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.