Shares of Enterprise Products Partners L.P. (NYSE:EPD – Get Free Report) fell 0% on Wednesday . The company traded as low as $29.14 and last traded at $29.17. 291,246 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 4,562,664 shares. The stock had previously closed at $29.18.
Wall Street Analyst Weigh In
EPD has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their target price on shares of Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Thursday, May 16th. Truist Financial upped their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Finally, Morgan Stanley dropped their price target 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. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $33.08.
View Our Latest Report on Enterprise Products Partners
Enterprise Products Partners Price Performance
Enterprise Products Partners (NYSE:EPD – Get Free Report) last posted its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS 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 during the quarter, compared to analyst estimates of $14.23 billion. During the same period in the previous year, the company earned $0.57 EPS. The company’s quarterly revenue was up 26.6% compared to the same quarter last year. Equities analysts expect that Enterprise Products Partners L.P. will post 2.72 EPS for the current year.
Enterprise Products Partners Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were given a dividend of $0.525 per share. The ex-dividend date was Wednesday, July 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.16%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.35%.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. purchased a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at $25,000. Burkett Financial Services LLC purchased a new stake in Enterprise Products Partners during the fourth quarter worth about $28,000. Stephens Consulting LLC acquired a new stake in shares of Enterprise Products Partners during the first quarter worth about $29,000. Palisade Asset Management LLC purchased a new position in shares of Enterprise Products Partners in the first quarter valued at approximately $29,000. Finally, Mascoma Wealth Management LLC acquired a new position in shares of Enterprise Products Partners in the second quarter valued at approximately $29,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.
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.
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