Enterprise Products Partners (NYSE:EPD) Shares Up 1.5% - Here's What Happened

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report)'s stock price shot up 1.5% during mid-day trading on Tuesday . The stock traded as high as $33.03 and last traded at $33.03. 980,861 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 3,400,234 shares. The stock had previously closed at $32.54.

Wall Street Analyst Weigh In

EPD has been the topic of several analyst reports. 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 report on Friday, January 3rd. Wolfe Research lowered shares of Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a report on Friday. Royal Bank of Canada reiterated an "outperform" rating and set a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. US Capital Advisors raised shares of Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, October 28th. Finally, Bank of America began coverage on Enterprise Products Partners in a report on Thursday, October 17th. They issued a "buy" rating and a $35.00 price target on the stock. Four investment 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, Enterprise Products Partners has a consensus rating of "Moderate Buy" and an average target price of $34.60.

Enterprise Products Partners Price Performance

The firm has a market capitalization of $72.46 billion, a PE ratio of 12.52, a P/E/G ratio of 1.66 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The stock has a fifty day moving average price of $31.87 and a 200-day moving average price of $30.15.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced 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). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The firm had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter in the prior year, the firm posted $0.60 earnings per share. The business's revenue for the quarter was up 14.8% compared to the same quarter last year. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.69 EPS 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 dividend of $0.535 per share. The ex-dividend date is Friday, January 31st. This represents a $2.14 annualized dividend and a dividend yield of 6.40%. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.53. Enterprise Products Partners's dividend payout ratio is 80.15%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. 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 acquiring an additional 656 shares during the last quarter. DiNuzzo Private Wealth Inc. boosted its position in Enterprise Products Partners by 1,000.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer's stock valued at $32,000 after buying an additional 1,000 shares during the last quarter. Assetmark Inc. increased its holdings 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 worth $35,000 after buying an additional 1,188 shares during the period. Sanctuary Wealth Management L.L.C. purchased a new position in Enterprise Products Partners during the 3rd quarter worth approximately $36,000. Finally, Bangor Savings Bank lifted its stake 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 valued at $40,000 after acquiring an additional 1,072 shares during the period. Institutional investors and hedge funds own 26.07% of the company's stock.

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.