Enterprise Products Partners (NYSE:EPD) Trading Down 0.1%

Enterprise Products Partners L.P. (NYSE:EPD)’s share price fell 0.1% during mid-day trading on Tuesday . The company traded as low as $29.17 and last traded at $29.56. 1,082,175 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 4,353,827 shares. The stock had previously closed at $29.60.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Truist Financial boosted their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Morgan Stanley reduced their price objective on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Monday, June 10th. Royal Bank of Canada restated an “outperform” rating and set a $35.00 price objective on shares of Enterprise Products Partners in a research note on Friday, April 5th. StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 4th. Finally, Scotiabank increased their price objective on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $32.77.

Enterprise Products Partners Stock Performance

The firm’s 50-day moving average price is $28.71 and its two-hundred day moving average price is $28.17. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $64.78 billion, a PE ratio of 11.72, a P/E/G ratio of 1.38 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.02. The firm had revenue of $14.76 billion for the quarter, compared to analysts’ expectations of $13.82 billion. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.73%. The company’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 EPS. As a group, research analysts predict that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st will be paid a $0.525 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a yield of 7.04%. The ex-dividend date is Wednesday, July 31st. Enterprise Products Partners’s dividend payout ratio is currently 80.78%.

Hedge Funds Weigh In On Enterprise Products Partners

Several institutional investors and hedge funds have recently bought and sold shares of the business. Cadence Bank boosted its holdings in shares of Enterprise Products Partners by 0.7% during the first quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock worth $1,530,000 after purchasing an additional 365 shares during the period. Hazlett Burt & Watson Inc. boosted its stake in shares of Enterprise Products Partners by 8.2% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 4,897 shares of the oil and gas producer’s stock valued at $128,000 after buying an additional 371 shares during the period. Ellsworth Advisors LLC boosted its stake in shares of Enterprise Products Partners by 1.8% during the 2nd quarter. Ellsworth Advisors LLC now owns 21,959 shares of the oil and gas producer’s stock valued at $636,000 after buying an additional 383 shares during the period. Register Financial Advisors LLC grew its holdings in shares of Enterprise Products Partners by 2.3% during the 4th quarter. Register Financial Advisors LLC now owns 17,320 shares of the oil and gas producer’s stock valued at $456,000 after acquiring an additional 397 shares in the last quarter. Finally, Stokes Family Office LLC increased its stake in shares of Enterprise Products Partners by 2.5% in the second quarter. Stokes Family Office LLC now owns 16,139 shares of the oil and gas producer’s stock worth $468,000 after acquiring an additional 399 shares during the last quarter. Hedge funds and other 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.