Enterprise Products Partners (NYSE:EPD) Trading Up 0.3% - Here's Why

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) shares were up 0.3% during mid-day trading on Tuesday . The stock traded as high as $30.67 and last traded at $30.66. Approximately 607,007 shares were traded during trading, a decline of 86% from the average daily volume of 4,287,561 shares. The stock had previously closed at $30.57.

Wall Street Analyst Weigh In

Several analysts recently weighed in on EPD shares. Truist Financial lifted their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a "buy" rating in a research report on Wednesday, July 31st. 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. StockNews.com downgraded Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a report on Monday, August 12th. Bank of America initiated 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. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $34.00.

Enterprise Products Partners Trading Down 0.5 %

The business has a 50 day moving average of $29.31 and a 200-day moving average of $29.00. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $66.02 billion, a P/E ratio of 11.39, a PEG ratio of 1.57 and a beta of 1.04.

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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.66 by ($0.01). The business had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.39%. The company's revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 EPS. Analysts anticipate that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors 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 annualized dividend and a yield of 6.90%. Enterprise Products Partners's payout ratio is 78.65%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Hantz Financial Services Inc. purchased a new position in shares of Enterprise Products Partners during the second quarter valued at about $25,000. Mascoma Wealth Management LLC acquired a new stake in shares of Enterprise Products Partners during the 2nd quarter valued at about $29,000. DiNuzzo Private Wealth Inc. raised its position in Enterprise Products Partners by 1,000.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer's stock worth $32,000 after acquiring an additional 1,000 shares during the period. Assetmark Inc. raised its stake 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 valued at $35,000 after purchasing an additional 1,188 shares during the last quarter. Finally, Sanctuary Wealth Management L.L.C. purchased a new position in Enterprise Products Partners during the third quarter worth approximately $36,000. Institutional investors 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.

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