Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) was up 2% on Tuesday . The company traded as high as $31.19 and last traded at $30.92. Approximately 1,097,131 shares traded hands during trading, a decline of 75% from the average daily volume of 4,373,491 shares. The stock had previously closed at $30.32.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on the company. Truist Financial raised their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the company a "buy" rating in a research note on Friday, January 3rd. Citigroup reaffirmed a "buy" rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Wolfe Research lowered shares of Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 10th. Scotiabank lifted their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a "sector perform" rating in a research note on Thursday, March 6th. Finally, Morgan Stanley boosted their price objective on Enterprise Products Partners from $36.00 to $38.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 11th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $36.89.
Check Out Our Latest Analysis on EPD
Enterprise Products Partners Stock 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 stock's 50 day moving average price is $32.61 and its 200 day moving average price is $31.88. The company has a market capitalization of $67.25 billion, a price-to-earnings ratio of 11.54, a P/E/G ratio of 1.37 and a beta of 0.78.
Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 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 company had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the prior year, the firm posted $0.72 EPS. The firm's revenue for the quarter was down 2.9% compared to the same quarter last year. Analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.
Enterprise Products Partners Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be issued a $0.535 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $2.14 annualized dividend and a yield of 6.89%. Enterprise Products Partners's dividend payout ratio is currently 79.55%.
Institutional Investors Weigh In On Enterprise Products Partners
A number of institutional investors have recently modified their holdings of the business. Rosenberg Matthew Hamilton raised its stake 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 worth $26,000 after purchasing an additional 656 shares in the last quarter. Tidemark LLC increased its holdings in Enterprise Products Partners by 54.3% in the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer's stock worth $28,000 after purchasing an additional 318 shares in the last quarter. Lee Danner & Bass Inc. bought a new position in Enterprise Products Partners in the 4th quarter valued at approximately $29,000. Crowley Wealth Management Inc. acquired a new position in shares of Enterprise Products Partners during the fourth quarter worth $30,000. Finally, National Bank of Canada FI lifted 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 buying an additional 360 shares during the period. Institutional investors own 26.07% of the company's stock.
About Enterprise Products Partners
(
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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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