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

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report)'s stock price was up 0.3% during trading on Monday . The stock traded as high as $34.35 and last traded at $34.20. Approximately 812,888 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 4,209,475 shares. The stock had previously closed at $34.08.

Analysts Set New Price Targets

Several analysts recently issued reports on EPD shares. Scotiabank increased their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a "sector perform" rating in a research report on Thursday, March 6th. 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 report on Wednesday, December 18th. 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 report on Friday, January 3rd. Barclays raised their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company an "overweight" rating in a research note on Friday, March 14th. Finally, Morgan Stanley increased their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 11th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $36.60.

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Enterprise Products Partners Trading Down 1.7 %

The business's fifty day moving average is $33.47 and its 200-day moving average is $31.83. 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 firm has a market cap of $72.46 billion, a P/E ratio of 12.44, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The firm had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter last year, the firm earned $0.72 earnings per share. The company's revenue for the quarter was down 2.9% on a year-over-year basis. Analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a dividend of $0.535 per share. The ex-dividend date of this dividend was Friday, January 31st. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 6.40%. Enterprise Products Partners's payout ratio is presently 79.55%.

Institutional Investors Weigh In On Enterprise Products Partners

Several institutional investors and hedge funds have recently made changes to their positions in EPD. Rosenberg Matthew Hamilton increased its position in Enterprise Products Partners by 364.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer's stock valued at $26,000 after purchasing an additional 656 shares during the period. Tidemark LLC boosted 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 last quarter. Lee Danner & Bass Inc. acquired a new stake in shares of Enterprise Products Partners during the fourth quarter worth $29,000. Crowley Wealth Management Inc. bought a new position in Enterprise Products Partners during the fourth quarter worth $30,000. Finally, National Bank of Canada FI lifted its holdings in Enterprise Products Partners by 55.4% in the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer's stock valued at $32,000 after buying an additional 360 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.