Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report)'s share price dropped 0% during mid-day trading on Friday . The stock traded as low as $30.17 and last traded at $30.24. Approximately 875,187 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 4,292,047 shares. The stock had previously closed at $30.25.
Analyst Upgrades and Downgrades
Several brokerages have commented on EPD. StockNews.com downgraded shares of Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a report on Monday, August 12th. Bank of America began coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a "buy" rating and a $35.00 price target for the company. Royal Bank of Canada restated an "outperform" rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. US Capital Advisors upgraded Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, October 28th. Finally, Truist Financial increased their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $34.00.
Read Our Latest Stock Report on Enterprise Products Partners
Enterprise Products Partners Stock Up 0.6 %
The stock's 50-day simple moving average is $29.24 and its 200 day simple moving average is $28.97. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The firm has a market cap of $66.02 billion, a P/E ratio of 11.33, a PEG ratio of 1.33 and a beta of 1.04.
Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). The business had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.39%. Enterprise Products Partners's quarterly revenue was up 14.8% compared to the same quarter last year. During the same period last year, the firm posted $0.60 earnings per share. As a group, research analysts forecast that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.
Enterprise Products Partners Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 6.90%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners's dividend payout ratio is 78.65%.
Hedge Funds Weigh In On Enterprise Products Partners
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Hantz Financial Services Inc. purchased a new stake in shares of Enterprise Products Partners during the 2nd quarter worth approximately $25,000. Mascoma Wealth Management LLC bought a new stake in shares of Enterprise Products Partners in the second quarter valued at approximately $29,000. DiNuzzo Private Wealth Inc. raised its holdings in Enterprise Products Partners by 1,000.0% during the 3rd 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 shares of 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 worth $35,000 after acquiring an additional 1,188 shares during the period. Finally, Sanctuary Wealth Management L.L.C. bought a new position in Enterprise Products Partners in the 3rd quarter worth about $36,000. Hedge funds and other institutional investors 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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