Enterprise Products Partners (NYSE:EPD) Trading 0.5% Higher - What's Next?

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) shares were up 0.5% on Tuesday . The stock traded as high as $33.31 and last traded at $33.27. Approximately 1,699,634 shares changed hands during trading, a decline of 64% from the average daily volume of 4,766,461 shares. The stock had previously closed at $33.12.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on EPD shares. Truist Financial upped their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, January 3rd. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Bank of America assumed coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They issued a "buy" rating and a $35.00 price target on the stock. Scotiabank assumed coverage on shares of Enterprise Products Partners in a report on Friday, January 10th. They issued a "sector perform" rating and a $33.00 price target on the stock. Finally, US Capital Advisors raised shares of Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating, eight have given 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 an average price target of $34.70.

Enterprise Products Partners Stock Up 0.9 %

The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The firm has a market cap of $72.65 billion, a PE ratio of 12.46, a P/E/G ratio of 1.54 and a beta of 1.09. The firm's 50 day moving average is $32.49 and its 200-day moving average is $30.74.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced 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. The company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. Enterprise Products Partners's revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter last year, the business earned $0.72 EPS. As a group, equities research analysts expect that Enterprise Products Partners L.P. will post 2.87 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a yield of 6.39%. 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 payout ratio is 79.55%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of institutional investors have recently added to or reduced their stakes in the company. Trust Co. of Vermont grew its position in Enterprise Products Partners by 10.0% during the fourth quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer's stock valued at $104,000 after acquiring an additional 300 shares during the period. Griffin Asset Management Inc. grew its position in Enterprise Products Partners by 0.8% during the fourth quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer's stock valued at $1,203,000 after acquiring an additional 305 shares during the period. Evanson Asset Management LLC grew its position in Enterprise Products Partners by 0.4% during the fourth quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer's stock valued at $2,304,000 after acquiring an additional 306 shares during the period. Smartleaf Asset Management LLC grew its position in Enterprise Products Partners by 14.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer's stock valued at $78,000 after acquiring an additional 308 shares during the period. Finally, Sandbox Financial Partners LLC grew its position in Enterprise Products Partners by 3.2% during the fourth quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer's stock valued at $317,000 after acquiring an additional 309 shares during the period. Hedge funds and other institutional investors own 26.07% of the company's stock.

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.