Enterprise Products Partners (NYSE:EPD) Stock Price Up 1.1% - What's Next?

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report)'s share price shot up 1.1% on Thursday . The stock traded as high as $33.98 and last traded at $34.01. 1,065,992 shares were traded during trading, a decline of 74% from the average session volume of 4,102,677 shares. The stock had previously closed at $33.65.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada restated an "outperform" rating and set a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Truist Financial boosted 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. Wolfe Research lowered Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a report on Friday, January 10th. Bank of America assumed coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They set a "buy" rating and a $35.00 price objective 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 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 stock. Based on data from MarketBeat.com, Enterprise Products Partners has a consensus rating of "Moderate Buy" and an average target price of $34.60.

Enterprise Products Partners Stock Performance

The company has a market capitalization of $73.64 billion, a P/E ratio of 12.72, a price-to-earnings-growth ratio of 1.60 and a beta of 1.09. The company's 50 day moving average is $32.50 and its 200-day moving average is $30.49. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its earnings results 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). The company had revenue of $13.78 billion during the quarter, compared to analysts' expectations of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The company's revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 earnings per share. Equities analysts anticipate 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. Stockholders of record on Friday, January 31st will be issued a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.30%. 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 (DPR) is presently 80.15%.

Hedge Funds Weigh In On Enterprise Products Partners

Several hedge funds and other institutional investors have recently modified their holdings of EPD. Puff Wealth Management LLC purchased a new position in shares of Enterprise Products Partners during the 4th quarter worth $208,000. Roxbury Financial LLC bought a new position in shares of Enterprise Products Partners during the 4th quarter valued at approximately $173,000. Guyasuta Investment Advisors Inc. increased its holdings in Enterprise Products Partners by 1.1% in the 4th quarter. Guyasuta Investment Advisors Inc. now owns 29,800 shares of the oil and gas producer's stock worth $935,000 after acquiring an additional 322 shares in the last quarter. Aveo Capital Partners LLC boosted its position in shares of Enterprise Products Partners by 52.3% in the fourth quarter. Aveo Capital Partners LLC now owns 16,755 shares of the oil and gas producer's stock worth $525,000 after purchasing an additional 5,755 shares during the period. Finally, Nations Financial Group Inc. IA ADV increased its stake in shares of Enterprise Products Partners by 0.6% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 229,402 shares of the oil and gas producer's stock worth $7,194,000 after purchasing an additional 1,267 shares in the last quarter. 26.07% of the stock is owned by institutional investors.

About Enterprise Products Partners

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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