Enterprise Products Partners (NYSE:EPD) Stock Price Down 0.4%

Enterprise Products Partners L.P. (NYSE:EPD) shares fell 0.4% on Friday . The company traded as low as $28.90 and last traded at $28.92. 421,087 shares changed hands during trading, a decline of 91% from the average session volume of 4,504,833 shares. The stock had previously closed at $29.03.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EPD. JPMorgan Chase & Co. decreased 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 note on Thursday, May 16th. Truist Financial lifted their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Morgan Stanley decreased their price target 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. Finally, StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.08.

Enterprise Products Partners Price Performance

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91. The company has a 50-day moving average of $29.18 and a 200-day moving average of $28.75. The firm has a market capitalization of $62.50 billion, a price-to-earnings ratio of 11.34, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.02). The firm had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The company’s revenue was up 26.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 EPS. As a group, research analysts anticipate that Enterprise Products Partners L.P. will post 2.72 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.30%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s dividend payout ratio is currently 82.35%.

Institutional Investors Weigh In On Enterprise Products Partners

Institutional investors and hedge funds have recently made changes to their positions in the stock. Hantz Financial Services Inc. bought a new stake in Enterprise Products Partners in the 2nd quarter valued at $25,000. Burkett Financial Services LLC bought a new stake in Enterprise Products Partners in the 4th quarter valued at $28,000. Stephens Consulting LLC bought a new stake in Enterprise Products Partners in the 1st quarter valued at $29,000. Palisade Asset Management LLC acquired a new position in Enterprise Products Partners in the 1st quarter valued at $29,000. Finally, Mascoma Wealth Management LLC acquired a new position in Enterprise Products Partners in the 2nd quarter valued at $29,000. 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.