Enterprise Products Partners (NYSE:EPD) Shares Up 0.1% - Here's What Happened

Shares of Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) were up 0.1% on Tuesday . The stock traded as high as $31.62 and last traded at $31.53. Approximately 588,759 shares changed hands during trading, a decline of 86% from the average daily volume of 4,291,541 shares. The stock had previously closed at $31.49.

Wall Street Analyst Weigh In

A number of research firms have commented on EPD. Bank of America initiated coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a "buy" rating and a $35.00 price target for the company. 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. US Capital Advisors upgraded shares of Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, October 28th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Finally, Truist Financial upped their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $34.00.

Enterprise Products Partners Stock Up 0.1 %

The firm has a market capitalization of $68.32 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 1.60 and a beta of 1.04. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The business has a 50-day moving average price of $29.49 and a 200-day moving average price of $29.09.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The company had revenue of $13.78 billion for the quarter, compared to analysts' expectations of $13.87 billion. During the same quarter in the prior year, the firm earned $0.60 EPS. The firm's revenue was up 14.8% on a year-over-year basis. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a $0.525 dividend. The ex-dividend date was Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 6.66%. Enterprise Products Partners's dividend payout ratio (DPR) is 78.65%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. acquired a new position in shares of Enterprise Products Partners in the 2nd quarter valued at $25,000. Mascoma Wealth Management LLC purchased a new position in Enterprise Products Partners during the second quarter worth about $29,000. DiNuzzo Private Wealth Inc. increased its position in shares of Enterprise Products Partners by 1,000.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer's stock valued at $32,000 after acquiring an additional 1,000 shares during the last quarter. Assetmark Inc. raised its stake in shares of Enterprise Products Partners by 19,800.0% in the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer's stock valued at $35,000 after acquiring an additional 1,188 shares during the period. Finally, Sanctuary Wealth Management L.L.C. acquired a new position in shares of Enterprise Products Partners in the 3rd quarter worth approximately $36,000. 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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