Enterprise Products Partners (NYSE:EPD) Stock Price Up 0.2% - Here's Why

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report)'s stock price traded up 0.2% during trading on Thursday . The company traded as high as $34.32 and last traded at $34.07. 909,901 shares were traded during mid-day trading, a decline of 78% from the average session volume of 4,122,369 shares. The stock had previously closed at $34.00.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EPD. Wolfe Research downgraded Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 10th. Morgan Stanley increased their price objective on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 11th. Citigroup reaffirmed a "buy" rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Truist Financial raised their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a "buy" rating in a research note on Friday, January 3rd. Finally, Wells Fargo & Company lowered shares of Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 target price on the stock. in a research report on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.90.

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Enterprise Products Partners Stock Down 0.3 %

The company has a market cap of $73.10 billion, a PE ratio of 12.55, a P/E/G ratio of 1.37 and a beta of 1.08. The firm has a 50-day simple moving average of $33.41 and a two-hundred day simple moving average of $31.58. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.69 by $0.05. The firm had revenue of $14.20 billion during the quarter, compared to analysts' expectations of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm's quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 EPS. Research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a dividend of $0.535 per share. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.14 annualized dividend and a dividend yield of 6.34%. Enterprise Products Partners's dividend payout ratio is presently 79.55%.

Institutional Trading of Enterprise Products Partners

Several hedge funds and other institutional investors have recently bought and sold shares of EPD. Kayne Anderson Capital Advisors LP increased its stake in Enterprise Products Partners by 16.7% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer's stock valued at $426,125,000 after purchasing an additional 1,947,017 shares during the last quarter. Barclays PLC increased its stake in shares of Enterprise Products Partners by 110.0% during the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer's stock valued at $73,699,000 after acquiring an additional 1,326,010 shares during the last quarter. FMR LLC lifted its holdings in shares of Enterprise Products Partners by 9.3% during the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer's stock worth $420,037,000 after acquiring an additional 1,225,988 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Enterprise Products Partners in the fourth quarter worth approximately $36,279,000. Finally, Merewether Investment Management LP acquired a new position in Enterprise Products Partners during the third quarter worth approximately $30,746,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

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.