Enterprise Products Partners (NYSE:EPD) Trading Down 0.2% - What's Next?

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) was down 0.2% on Thursday . The company traded as low as $32.53 and last traded at $33.03. Approximately 1,159,724 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 4,785,025 shares. The stock had previously closed at $33.09.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on EPD shares. Truist Financial lifted their price objective 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. Wells Fargo & Company lowered shares of Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 price target on the stock. in a research report on Wednesday, December 18th. Wolfe Research cut Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a report on Friday, January 10th. Citigroup reissued a "buy" rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Finally, Scotiabank boosted their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a "sector perform" rating in a research report on Thursday. Four investment 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 stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $34.90.

Remove Ads

Enterprise Products Partners Trading Up 2.1 %

The company's fifty day moving average is $33.06 and its 200-day moving average is $31.25. 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 has a market capitalization of $72.40 billion, a P/E ratio of 12.43, a P/E/G ratio of 1.37 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.05. The company had revenue of $14.20 billion during the quarter, compared to analysts' expectations of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business's quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.72 earnings per share. As a group, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.535 dividend. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 6.40%. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners's payout ratio is currently 79.55%.

Institutional Investors Weigh In On Enterprise Products Partners

Several hedge funds have recently modified their holdings of EPD. Rosenberg Matthew Hamilton grew 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 worth $26,000 after purchasing an additional 656 shares during the last quarter. Tidemark LLC lifted its stake in shares of Enterprise Products Partners by 54.3% in the fourth 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. acquired a new stake in Enterprise Products Partners during the fourth quarter worth about $29,000. Crowley Wealth Management Inc. bought a new position in Enterprise Products Partners during the fourth quarter valued at about $30,000. Finally, National Bank of Canada FI raised its holdings 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 acquiring an additional 360 shares in the last quarter. 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.