Enterprise Products Partners (NYSE:EPD) Trading Up 0.5% - Here's What Happened

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) was up 0.5% during trading on Monday . The company traded as high as $30.62 and last traded at $30.56. Approximately 713,822 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 4,286,852 shares. The stock had previously closed at $30.42.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on EPD shares. Truist Financial lifted their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Bank of America started coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They issued a "buy" rating and a $35.00 price target on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and set a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. StockNews.com downgraded shares of Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 12th. Finally, US Capital Advisors upgraded shares of Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, October 28th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Enterprise Products Partners currently has a consensus rating of "Buy" and an average price target of $34.00.

Enterprise Products Partners Trading Up 0.5 %

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 company has a 50 day simple moving average of $29.28 and a 200 day simple moving average of $28.99. The stock has a market capitalization of $66.35 billion, a PE ratio of 11.45, a P/E/G ratio of 1.57 and a beta of 1.04.

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

Enterprise Products Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.525 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.87%. Enterprise Products Partners's dividend payout ratio (DPR) is 78.65%.

Hedge Funds Weigh In On Enterprise Products Partners

Several hedge funds and other institutional investors have recently modified their holdings of EPD. O Shaughnessy Asset Management LLC increased its holdings in Enterprise Products Partners by 19.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer's stock valued at $685,000 after buying an additional 3,770 shares during the last quarter. Catalyst Capital Advisors LLC grew its holdings in Enterprise Products Partners by 5.8% during the third quarter. Catalyst Capital Advisors LLC now owns 477,341 shares of the oil and gas producer's stock worth $13,895,000 after acquiring an additional 26,136 shares during the period. Sanders Morris Harris LLC raised its holdings in shares of Enterprise Products Partners by 28.1% in the 3rd quarter. Sanders Morris Harris LLC now owns 705,804 shares of the oil and gas producer's stock worth $20,546,000 after purchasing an additional 154,822 shares in the last quarter. Pathway Financial Advisers LLC increased its holdings in shares of Enterprise Products Partners by 2,862.8% in the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer's stock valued at $225,777,000 after buying an additional 7,494,224 shares in the last quarter. Finally, Nwam LLC lifted its stake in Enterprise Products Partners by 25.1% during the first quarter. Nwam LLC now owns 20,822 shares of the oil and gas producer's stock valued at $591,000 after buying an additional 4,184 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

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.

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