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

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

Wall Street Analyst Weigh In

EPD has been the topic of several analyst reports. Truist Financial lifted 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 note on Friday, January 3rd. Barclays lifted 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 note on Friday. Scotiabank lifted 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 note on Thursday, March 6th. Morgan Stanley lifted their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 11th. Finally, Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.90.

Enterprise Products Partners Stock Performance

The firm has a market cap of $73.24 billion, a PE ratio of 12.58, a PEG ratio of 1.37 and a beta of 1.08. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The firm’s 50 day simple moving average is $33.27 and its 200 day simple moving average is $31.44.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results 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. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The firm had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the previous year, the firm posted $0.72 EPS. The business’s quarterly revenue was down 2.9% on a year-over-year basis. On average, 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 firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.535 dividend. The ex-dividend date of this dividend was Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.33%. Enterprise Products Partners’s payout ratio is 79.55%.

Hedge Funds Weigh In On Enterprise Products Partners

Several hedge funds have recently added to or reduced their stakes in the company. Rosenberg Matthew Hamilton boosted its position in Enterprise Products Partners by 364.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 656 shares during the period. Tidemark LLC boosted its position in Enterprise Products Partners by 54.3% in the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 318 shares during the period. Lee Danner & Bass Inc. purchased a new stake in Enterprise Products Partners in the 4th quarter valued at about $29,000. Crowley Wealth Management Inc. purchased a new stake in Enterprise Products Partners in the 4th quarter valued at about $30,000. Finally, National Bank of Canada FI boosted its position in Enterprise Products Partners by 55.4% in the 4th quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 360 shares during the period. 26.07% of the stock is currently owned by institutional investors.

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.