Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) shares shot up 1.1% on Thursday . The stock traded as high as $33.98 and last traded at $34.01. 1,065,992 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 4,102,677 shares. The stock had previously closed at $33.65.
Analyst Ratings Changes
EPD has been the topic of several research analyst reports. 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. Bank of America assumed coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They issued a "buy" rating and a $35.00 price target on the stock. Truist Financial increased their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a "buy" rating in a research note on Friday, January 3rd. Wells Fargo & Company lowered Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 price target on the stock. in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $34.44.
Read Our Latest Analysis on Enterprise Products Partners
Enterprise Products Partners Price Performance
The stock has a market capitalization of $71.46 billion, a P/E ratio of 12.35, a PEG ratio of 1.54 and a beta of 1.09. The company's 50 day simple moving average is $32.55 and its two-hundred day simple moving average is $30.57. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83.
Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The firm had revenue of $14.20 billion during the quarter, compared to analysts' expectations of $14.07 billion. During the same period last year, the firm posted $0.72 EPS. The business's revenue was down 2.9% on a year-over-year basis. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 2.67 EPS for the current fiscal year.
Enterprise Products Partners Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a dividend of $0.535 per share. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.53. The ex-dividend date is Friday, January 31st. This represents a $2.14 annualized dividend and a yield of 6.49%. Enterprise Products Partners's dividend payout ratio is 80.15%.
Institutional Investors Weigh In On Enterprise Products Partners
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rosenberg Matthew Hamilton increased its holdings in shares of Enterprise Products Partners by 364.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer's stock valued at $26,000 after purchasing an additional 656 shares in the last quarter. DiNuzzo Private Wealth Inc. lifted its stake 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 period. Assetmark Inc. boosted its holdings in Enterprise Products Partners by 19,800.0% in the third 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 last quarter. Sanctuary Wealth Management L.L.C. bought a new stake in Enterprise Products Partners during the 3rd quarter worth about $36,000. Finally, Bangor Savings Bank lifted its position in Enterprise Products Partners by 558.3% during the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer's stock valued at $40,000 after purchasing an additional 1,072 shares during the period. Institutional investors and hedge funds own 26.07% of the company's stock.
Enterprise Products Partners Company Profile
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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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