Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report)'s stock price rose 1.4% during mid-day trading on Friday after Scotiabank raised their price target on the stock from $33.00 to $35.00. Scotiabank currently has a sector perform rating on the stock. Enterprise Products Partners traded as high as $33.28 and last traded at $33.20. Approximately 878,832 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 4,766,983 shares. The stock had previously closed at $32.75.
A number of other research analysts also recently issued reports on EPD. Citigroup reissued a "buy" rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Wolfe Research downgraded Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 10th. Wells Fargo & Company downgraded Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 price target on the stock. in a research note on Wednesday, December 18th. Finally, Truist Financial upped their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $34.90.
Read Our Latest Stock Analysis on EPD
Hedge Funds Weigh In On Enterprise Products Partners
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rosenberg Matthew Hamilton lifted its position 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 lifted its holdings in shares of Enterprise Products Partners by 54.3% during the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer's stock valued at $28,000 after buying an additional 318 shares during the period. Lee Danner & Bass Inc. bought a new position in shares of Enterprise Products Partners during the 4th quarter valued at $29,000. Crowley Wealth Management Inc. bought a new position in shares of Enterprise Products Partners during the 4th quarter valued at $30,000. Finally, National Bank of Canada FI lifted its holdings in shares of Enterprise Products Partners by 55.4% during 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 buying an additional 360 shares during the period. 26.07% of the stock is owned by institutional investors.
Enterprise Products Partners Price Performance
The firm has a fifty day moving average price of $33.06 and a two-hundred day moving average price of $31.25. The stock has a market capitalization of $72.40 billion, a P/E ratio of 12.43, a PEG ratio of 1.37 and a beta of 1.08. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.
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 for the quarter, beating the consensus estimate of $0.69 by $0.05. The firm had revenue of $14.20 billion for 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 was down 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 EPS. As a group, analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS 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. Stockholders of record on Friday, January 31st were issued a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 6.40%. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners's dividend payout ratio is presently 79.55%.
Enterprise Products Partners Company Profile
(
Get Free Report)
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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