Enterprise Products Partners (NYSE:EPD) Shares Up 1% After Dividend Announcement

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) shot up 1% during trading on Wednesday after the company announced a dividend. The company traded as high as $32.39 and last traded at $32.24. 1,159,455 shares traded hands during trading, a decline of 58% from the average session volume of 2,780,008 shares. The stock had previously closed at $31.93.

The newly announced dividend which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.60%. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.53. Enterprise Products Partners's dividend payout ratio (DPR) is presently 78.65%.

Analyst Ratings Changes

A number of research firms have issued reports on EPD. Royal Bank of Canada reiterated an "outperform" rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Wells Fargo & Company cut shares of Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 price target for the company. in a research report on Wednesday, December 18th. US Capital Advisors upgraded shares of Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, October 28th. Truist Financial boosted their price target 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. Finally, Bank of America started coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a "buy" rating and a $35.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $34.50.

Enterprise Products Partners Stock Up 1.5 %

The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The stock has a market cap of $70.27 billion, a PE ratio of 12.14, a PEG ratio of 1.67 and a beta of 1.09. The company has a 50 day moving average price of $31.58 and a two-hundred day moving average price of $30.03.

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

Institutional Investors Weigh In On Enterprise Products Partners

Large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its position in Enterprise Products Partners by 1.3% during the second quarter. Bank of New York Mellon Corp now owns 294,760 shares of the oil and gas producer's stock valued at $8,542,000 after acquiring an additional 3,770 shares during the last quarter. Natixis Advisors LLC lifted its stake in shares of Enterprise Products Partners by 48.4% in the 2nd quarter. Natixis Advisors LLC now owns 18,048 shares of the oil and gas producer's stock worth $523,000 after purchasing an additional 5,887 shares during the period. Strategic Financial Concepts LLC boosted its holdings in shares of Enterprise Products Partners by 2,838.3% in the second quarter. Strategic Financial Concepts LLC now owns 517,383 shares of the oil and gas producer's stock worth $150,000 after buying an additional 499,775 shares during the last quarter. Acadian Asset Management LLC increased its holdings in Enterprise Products Partners by 19.0% during the second quarter. Acadian Asset Management LLC now owns 252,830 shares of the oil and gas producer's stock valued at $7,322,000 after buying an additional 40,280 shares during the last quarter. Finally, Choreo LLC raised its position in Enterprise Products Partners by 170.9% in the second quarter. Choreo LLC now owns 91,537 shares of the oil and gas producer's stock worth $2,654,000 after acquiring an additional 57,751 shares during the period. Institutional investors own 26.07% of the company's stock.

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.