Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) rose 0.9% during mid-day trading on Thursday . The stock traded as high as $30.71 and last traded at $30.65. Approximately 1,357,479 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 4,285,744 shares. The stock had previously closed at $30.39.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on EPD. Bank of America assumed coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a "buy" rating and a $35.00 price objective for the company. US Capital Advisors raised Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, October 28th. Truist Financial boosted their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. StockNews.com downgraded shares of Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a report on Monday, August 12th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. One 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $34.00.
Read Our Latest Stock Report on EPD
Enterprise Products Partners Stock Performance
The firm's fifty day moving average is $29.36 and its 200 day moving average is $29.02. The firm has a market capitalization of $66.98 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 1.57 and a beta of 1.04. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.68.
Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share 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 for the quarter, compared to analysts' expectations of $13.87 billion. During the same period last year, the business earned $0.60 earnings per share. The firm's revenue for the quarter was up 14.8% on a year-over-year basis. On average, analysts predict that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.
Enterprise Products Partners Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a $0.525 dividend. The ex-dividend date is Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.80%. Enterprise Products Partners's dividend payout ratio is currently 78.65%.
Hedge Funds Weigh In On Enterprise Products Partners
Several large investors have recently made changes to their positions in the business. Hantz Financial Services Inc. bought a new position in Enterprise Products Partners during the second quarter worth about $25,000. Mascoma Wealth Management LLC bought a new stake in Enterprise Products Partners during the 2nd quarter worth about $29,000. DiNuzzo Private Wealth Inc. grew its position in shares of 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 worth $32,000 after buying an additional 1,000 shares during the period. Assetmark Inc. lifted its holdings in Enterprise Products Partners by 19,800.0% during 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 in the last quarter. Finally, Sanctuary Wealth Management L.L.C. bought a new stake in Enterprise Products Partners during the 3rd quarter worth approximately $36,000. Institutional investors and hedge funds own 26.07% of the company's stock.
Enterprise Products Partners Company Profile
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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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