Enterprise Products Partners (NYSE:EPD) Shares Up 0.8%

Enterprise Products Partners L.P. (NYSE:EPD) shot up 0.8% on Monday . The company traded as high as $29.45 and last traded at $29.41. 597,754 shares traded hands during trading, a decline of 87% from the average session volume of 4,623,773 shares. The stock had previously closed at $29.17.

Wall Street Analyst Weigh In

A number of research firms have weighed in on EPD. 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. Morgan Stanley reduced their price objective on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Monday, June 10th. JPMorgan Chase & Co. cut their price target on shares of Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Thursday, May 16th. Finally, Truist Financial upped their price target 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. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $33.08.

Enterprise Products Partners Stock Up 1.0 %

The stock’s 50-day moving average price is $29.01 and its two-hundred day moving average price is $28.52. The stock has a market capitalization of $64.00 billion, a P/E ratio of 11.53, a P/E/G ratio of 1.33 and a beta of 1.04. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.18%. The company had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $14.23 billion. During the same period in the prior year, the company earned $0.57 earnings per share. The firm’s revenue was up 26.6% on a year-over-year basis. As a group, research analysts expect that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were given a dividend of $0.525 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.13%. The ex-dividend date was Wednesday, July 31st. Enterprise Products Partners’s dividend payout ratio is currently 82.35%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of EPD. Cadence Bank raised its position in Enterprise Products Partners by 0.7% in the 1st 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. McAdam LLC raised its position in Enterprise Products Partners by 1.3% in the 2nd quarter. McAdam LLC now owns 28,670 shares of the oil and gas producer’s stock worth $831,000 after purchasing an additional 372 shares during the period. Advisor OS LLC raised its position in Enterprise Products Partners by 1.3% in the 2nd quarter. Advisor OS LLC now owns 29,485 shares of the oil and gas producer’s stock worth $854,000 after purchasing an additional 379 shares during the period. Ellsworth Advisors LLC raised its position in Enterprise Products Partners by 1.8% in the 2nd quarter. Ellsworth Advisors LLC now owns 21,959 shares of the oil and gas producer’s stock worth $636,000 after purchasing an additional 383 shares during the period. Finally, Stokes Family Office LLC raised its position in Enterprise Products Partners by 2.5% in the 2nd quarter. Stokes Family Office LLC now owns 16,139 shares of the oil and gas producer’s stock worth $468,000 after purchasing an additional 399 shares during the period. 26.07% of the stock is owned by institutional investors.

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.