Enterprise Products Partners (NYSE:EPD) Trading Up 1.7% - Here's What Happened

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) shot up 1.7% during trading on Monday . The company traded as high as $32.91 and last traded at $32.72. 1,654,240 shares were traded during mid-day trading, a decline of 49% from the average session volume of 3,271,315 shares. The stock had previously closed at $32.17.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on EPD shares. Wolfe Research cut Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a report on Friday. Royal Bank of Canada restated an "outperform" rating and set a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. 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 shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a "buy" rating in a report on Friday, January 3rd. Finally, Scotiabank began coverage on Enterprise Products Partners in a research note on Friday. They set a "sector perform" rating and a $33.00 price objective on the stock. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Enterprise Products Partners presently has an average rating of "Moderate Buy" and a consensus price target of $34.60.

Enterprise Products Partners Stock Up 1.2 %

The stock's fifty day moving average price is $31.79 and its 200-day moving average price is $30.11. The company has a market capitalization of $70.58 billion, a price-to-earnings ratio of 12.19, a P/E/G ratio of 1.66 and a beta of 1.09. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05.

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

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 6.57%. The ex-dividend date is Friday, January 31st. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.53. Enterprise Products Partners's dividend payout ratio is presently 80.15%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of institutional investors and hedge funds have recently modified their holdings of the company. DiNuzzo Private Wealth Inc. boosted its holdings 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 worth $32,000 after acquiring an additional 1,000 shares during the period. Assetmark Inc. boosted its stake in Enterprise Products Partners by 19,800.0% in the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer's stock valued at $35,000 after purchasing an additional 1,188 shares during the period. Sanctuary Wealth Management L.L.C. acquired a new position in Enterprise Products Partners in the 3rd quarter valued at $36,000. Bangor Savings Bank increased 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 worth $40,000 after buying an additional 1,072 shares during the period. Finally, Truvestments Capital LLC bought a new stake in shares of Enterprise Products Partners in the third quarter valued at about $49,000. 26.07% of the stock is owned by institutional investors.

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.