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

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report)'s stock price shot up 0.1% during trading on Wednesday . The stock traded as high as $33.40 and last traded at $33.24. 705,925 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 4,746,308 shares. The stock had previously closed at $33.21.

Analyst Ratings Changes

Several research firms have recently commented on EPD. Scotiabank began coverage on shares of Enterprise Products Partners in a report on Friday, January 10th. They issued a "sector perform" rating and a $33.00 price target for the company. Citigroup boosted their price objective on shares of Enterprise Products Partners from $36.00 to $37.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Wells Fargo & Company lowered shares of Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 price objective for the company. in a research note on Wednesday, December 18th. Truist Financial boosted 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. Finally, Wolfe Research lowered shares of Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $34.70.

Enterprise Products Partners Price Performance

The firm's fifty day moving average price is $32.50 and its 200 day moving average price is $30.76. The firm has a market capitalization of $72.65 billion, a PE ratio of 12.46, a P/E/G ratio of 1.54 and a beta of 1.09. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The firm had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the prior year, the firm posted $0.72 earnings per share. The firm's quarterly revenue was down 2.9% compared to the same quarter last year. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 2.87 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a dividend of $0.535 per share. The ex-dividend date was Friday, January 31st. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a yield of 6.39%. Enterprise Products Partners's dividend payout ratio is 79.55%.

Hedge Funds Weigh In On Enterprise Products Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EPD. Good Life Advisors LLC lifted its holdings in Enterprise Products Partners by 21.6% during the third quarter. Good Life Advisors LLC now owns 15,913 shares of the oil and gas producer's stock valued at $463,000 after purchasing an additional 2,828 shares in the last quarter. Ellsworth Advisors LLC lifted its stake in shares of Enterprise Products Partners by 3.1% in the third quarter. Ellsworth Advisors LLC now owns 22,642 shares of the oil and gas producer's stock worth $659,000 after buying an additional 683 shares in the last quarter. DiNuzzo Private Wealth Inc. lifted its stake in shares of Enterprise Products Partners by 1,000.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer's stock worth $32,000 after buying an additional 1,000 shares in the last quarter. Addison Capital Co lifted its stake in shares of Enterprise Products Partners by 174.3% in the third quarter. Addison Capital Co now owns 47,315 shares of the oil and gas producer's stock worth $1,377,000 after buying an additional 30,068 shares in the last quarter. Finally, Ellenbecker Investment Group raised its stake in Enterprise Products Partners by 1.5% during the third quarter. Ellenbecker Investment Group now owns 25,247 shares of the oil and gas producer's stock worth $735,000 after purchasing an additional 374 shares during the period. 26.07% of the stock is owned by hedge funds and other institutional investors.

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.