Enterprise Products Partners (NYSE:EPD) Shares Up 0.6% - What's Next?

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) shares rose 0.6% on Monday . The company traded as high as $33.71 and last traded at $33.60. Approximately 1,105,013 shares were traded during trading, a decline of 77% from the average daily volume of 4,754,595 shares. The stock had previously closed at $33.41.

Analyst Upgrades and Downgrades

A number of analysts have commented on EPD shares. Wells Fargo & Company downgraded 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 report on Wednesday, December 18th. Wolfe Research lowered Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 10th. Truist Financial raised their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. Scotiabank started coverage on Enterprise Products Partners in a report on Friday, January 10th. They set a "sector perform" rating and a $33.00 price target on the stock. Finally, Citigroup restated a "buy" rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $34.70.

Enterprise Products Partners Price Performance

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 company's fifty day moving average is $32.91 and its two-hundred day moving average is $31.16. The stock has a market cap of $72.15 billion, a price-to-earnings ratio of 12.37, a P/E/G ratio of 1.37 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the previous year, the business earned $0.72 EPS. The company's quarterly revenue was down 2.9% compared to the same quarter last year. As a group, research analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a $0.535 dividend. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.14 annualized dividend and a dividend yield of 6.43%. Enterprise Products Partners's dividend payout ratio (DPR) is presently 79.55%.

Institutional Investors Weigh In On Enterprise Products Partners

Hedge funds have recently added to or reduced their stakes in the business. Kayne Anderson Capital Advisors LP increased its position in shares of Enterprise Products Partners by 16.7% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer's stock worth $426,125,000 after acquiring an additional 1,947,017 shares during the period. Barclays PLC grew its stake in Enterprise Products Partners by 110.0% during the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer's stock worth $73,699,000 after purchasing an additional 1,326,010 shares in the last quarter. FMR LLC increased its holdings in Enterprise Products Partners by 9.3% during the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer's stock worth $420,037,000 after purchasing an additional 1,225,988 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in Enterprise Products Partners in the 4th quarter valued at about $36,279,000. Finally, Merewether Investment Management LP purchased a new position in shares of Enterprise Products Partners in the 3rd quarter valued at about $30,746,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

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.