Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) shares shot up 0.5% during mid-day trading on Wednesday . The stock traded as high as $34.03 and last traded at $33.96. 758,787 shares traded hands during trading, a decline of 82% from the average session volume of 4,120,893 shares. The stock had previously closed at $33.80.
Wall Street Analyst Weigh In
Several research firms have commented on EPD. Truist Financial raised their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, January 3rd. Citigroup reaffirmed a "buy" rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Barclays boosted their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company an "overweight" rating in a report on Friday, March 14th. Scotiabank raised their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a "sector perform" rating in a report on Thursday, March 6th. Finally, Morgan Stanley upped their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 11th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $35.90.
Get Our Latest Report on EPD
Enterprise Products Partners Stock Down 1.2 %
The firm has a fifty day moving average price of $33.41 and a 200 day moving average price of $31.56. The firm has a market capitalization of $72.95 billion, a price-to-earnings ratio of 12.52, a P/E/G ratio of 1.37 and a beta of 1.08. 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 earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company had revenue of $14.20 billion for the quarter, compared to analysts' expectations of $14.07 billion. During the same quarter in the prior year, the business earned $0.72 earnings per share. The business's revenue for the quarter was down 2.9% on a year-over-year basis. Sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.
Enterprise Products Partners Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.535 dividend. The ex-dividend date of this dividend 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 dividend yield of 6.35%. Enterprise Products Partners's payout ratio is currently 79.55%.
Institutional Trading of Enterprise Products Partners
Several hedge funds have recently modified their holdings of the stock. Rosenberg Matthew Hamilton boosted 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 valued at $26,000 after buying an additional 656 shares during the last quarter. Tidemark LLC lifted its stake in shares of Enterprise Products Partners by 54.3% during the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer's stock valued at $28,000 after acquiring an additional 318 shares during the period. Lee Danner & Bass Inc. bought a new position in Enterprise Products Partners in the fourth quarter valued at about $29,000. Crowley Wealth Management Inc. acquired a new stake in Enterprise Products Partners in the fourth quarter worth about $30,000. Finally, National Bank of Canada FI raised its holdings in Enterprise Products Partners by 55.4% during the 4th quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer's stock worth $32,000 after purchasing an additional 360 shares during the last quarter. 26.07% of the stock is owned by institutional investors.
About Enterprise Products Partners
(
Get Free Report)
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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