Enterprise Products Partners (NYSE:EPD) Trading Up 0.9% - Here's Why

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) shot up 0.9% during trading on Monday . The company traded as high as $33.74 and last traded at $33.52. 4,566,851 shares changed hands during mid-day trading, a decline of 11% from the average session volume of 5,115,015 shares. The stock had previously closed at $33.21.

Analyst Ratings Changes

A number of brokerages have commented on EPD. Wells Fargo & Company downgraded 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 note on Wednesday, December 18th. Scotiabank assumed coverage on Enterprise Products Partners in a research report on Friday, January 10th. They issued a "sector perform" rating and a $33.00 price target for the company. Wolfe Research cut Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 10th. Truist Financial boosted their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, January 3rd. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Four 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 company. According to MarketBeat.com, Enterprise Products Partners currently has an average rating of "Moderate Buy" and an average target price of $34.70.

Enterprise Products Partners Stock Down 0.3 %

The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The firm has a market cap of $72.69 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 1.57 and a beta of 1.09. The firm has a 50-day moving average of $32.60 and a two-hundred day moving average of $30.89.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating the consensus estimate 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 company's revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.72 EPS. As a group, sell-side analysts predict 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 declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.535 dividend. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. This represents a $2.14 annualized dividend and a yield of 6.38%. Enterprise Products Partners's dividend payout ratio is 79.55%.

Hedge Funds Weigh In On Enterprise Products Partners

Large investors have recently added to or reduced their stakes in the company. Rosenberg Matthew Hamilton raised its holdings 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 valued at $26,000 after acquiring an additional 656 shares in the last quarter. Tidemark LLC grew its stake in shares of Enterprise Products Partners by 54.3% in the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer's stock valued at $28,000 after purchasing an additional 318 shares during the period. Lee Danner & Bass Inc. bought a new stake in shares of Enterprise Products Partners in the 4th quarter valued at approximately $29,000. Crowley Wealth Management Inc. bought a new stake in shares of Enterprise Products Partners in the 4th quarter valued at approximately $30,000. Finally, National Bank of Canada FI grew its stake in shares of Enterprise Products Partners by 55.4% in the 4th quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer's stock valued at $32,000 after purchasing an additional 360 shares during the period. Institutional investors and hedge funds 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.