Enterprise Products Partners (NYSE:EPD) Trading Up 1.5% After Dividend Announcement

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report)'s share price rose 1.5% during mid-day trading on Thursday after the company announced a dividend. The stock traded as high as $32.45 and last traded at $32.42. Approximately 3,726,075 shares changed hands during trading, a decline of 11% from the average daily volume of 4,205,669 shares. The stock had previously closed at $31.93.

The newly announced dividend which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a $0.535 dividend. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.60%. Enterprise Products Partners's payout ratio is presently 80.15%.

Wall Street Analyst Weigh In

A number of research analysts have commented on EPD shares. US Capital Advisors upgraded shares of Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, October 28th. Wells Fargo & Company lowered shares of 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 shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. Bank of America initiated coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They set a "buy" rating and a $35.00 price objective on the stock. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Enterprise Products Partners has a consensus rating of "Moderate Buy" and a consensus price target of $34.50.

Enterprise Products Partners Price Performance

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 business has a 50-day simple moving average of $31.65 and a 200 day simple moving average of $30.05. The firm has a market cap of $70.27 billion, a P/E ratio of 12.14, a price-to-earnings-growth ratio of 1.66 and a beta of 1.09.

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 EPS for the quarter, missing analysts' consensus estimates of $0.66 by ($0.01). The business had revenue of $13.78 billion for 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 20.31%. Enterprise Products Partners's revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.60 EPS. On average, analysts anticipate that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Institutional Trading of Enterprise Products Partners

Several institutional investors and hedge funds have recently bought and sold shares of EPD. Curi RMB Capital LLC raised its position in shares of Enterprise Products Partners by 0.5% in the 3rd quarter. Curi RMB Capital LLC now owns 73,828 shares of the oil and gas producer's stock worth $2,149,000 after acquiring an additional 339 shares in the last quarter. Versant Capital Management Inc raised its holdings in Enterprise Products Partners by 10.7% in the fourth quarter. Versant Capital Management Inc now owns 3,519 shares of the oil and gas producer's stock worth $110,000 after purchasing an additional 340 shares in the last quarter. Zega Financial LLC raised its holdings in Enterprise Products Partners by 1.7% in the third quarter. Zega Financial LLC now owns 20,870 shares of the oil and gas producer's stock worth $608,000 after purchasing an additional 344 shares in the last quarter. Tranquility Partners LLC lifted its position in Enterprise Products Partners by 1.5% during the third quarter. Tranquility Partners LLC now owns 23,204 shares of the oil and gas producer's stock valued at $675,000 after buying an additional 346 shares during the period. Finally, Princeton Global Asset Management LLC boosted its holdings in shares of Enterprise Products Partners by 4.9% during the 3rd quarter. Princeton Global Asset Management LLC now owns 7,510 shares of the oil and gas producer's stock valued at $219,000 after buying an additional 350 shares in the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

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.