Enterprise Products Partners (NYSE:EPD) Trading 1.5% Higher - Here's Why

Shares of Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) traded up 1.5% during trading on Thursday . The stock traded as high as $31.10 and last traded at $31.18. 1,253,285 shares traded hands during trading, a decline of 76% from the average session volume of 5,237,410 shares. The stock had previously closed at $30.70.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an "equal weight" rating in a report on Tuesday, March 11th. Scotiabank lifted their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the company a "sector perform" rating in a report on Thursday, March 6th. 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. Barclays lifted 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, Citigroup restated a "buy" rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating, seven have given 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 "Moderate Buy" and an average target price of $36.89.

Enterprise Products Partners Trading Up 0.1 %

The business's 50-day moving average price is $32.36 and its 200 day moving average price is $31.94. The firm has a market capitalization of $67.87 billion, a price-to-earnings ratio of 11.65, a PEG ratio of 1.37 and a beta of 0.78. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the previous year, the business posted $0.72 EPS. The firm's revenue was down 2.9% compared to the same quarter last year. On average, equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be given a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.83%. The ex-dividend date is Wednesday, April 30th. Enterprise Products Partners's payout ratio is 79.55%.

Institutional Trading of Enterprise Products Partners

A number of hedge funds have recently made changes to their positions in EPD. Rosenberg Matthew Hamilton grew its holdings 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 worth $26,000 after acquiring an additional 656 shares in the last quarter. Tidemark LLC lifted its position in shares of Enterprise Products Partners by 54.3% during the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer's stock worth $28,000 after purchasing an additional 318 shares during the last quarter. Lee Danner & Bass Inc. acquired a new position in Enterprise Products Partners in the fourth quarter worth about $29,000. Crowley Wealth Management Inc. bought a new stake in Enterprise Products Partners in the fourth quarter valued at about $30,000. Finally, Security National Bank acquired a new stake in Enterprise Products Partners during the first quarter valued at approximately $30,000. 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.