Shares of Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) shot up 2% on Friday . The company traded as high as $31.45 and last traded at $31.05. 3,638,730 shares changed hands during trading, a decline of 17% from the average session volume of 4,369,478 shares. The stock had previously closed at $30.44.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the stock. Scotiabank raised their target price on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a "sector perform" rating in a research note on Thursday, March 6th. Barclays upped their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the company an "overweight" rating in a research report on Friday, March 14th. Royal Bank of Canada reissued an "outperform" rating and set a $37.00 price target on shares of Enterprise Products Partners in a report on Wednesday, March 26th. StockNews.com raised shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a research report on Tuesday, April 15th. Finally, Truist Financial boosted their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a "buy" rating in a report on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.89.
View Our Latest Analysis on EPD
Enterprise Products Partners Stock 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 stock has a market cap of $66.43 billion, a price-to-earnings ratio of 11.40, a P/E/G ratio of 1.37 and a beta of 0.78. The stock has a fifty day simple moving average of $32.55 and a two-hundred day simple moving average of $31.92.
Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the previous year, the firm earned $0.72 earnings per share. The business's quarterly revenue was down 2.9% on a year-over-year basis. Analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.
Enterprise Products Partners Announces Dividend
The company 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. The ex-dividend date is Wednesday, April 30th. This represents a $2.14 annualized dividend and a yield of 6.98%. Enterprise Products Partners's dividend payout ratio is presently 79.55%.
Hedge Funds Weigh In On Enterprise Products Partners
Hedge funds have recently modified their holdings of the business. Invesco Ltd. lifted its holdings in Enterprise Products Partners by 1.3% during the 4th quarter. Invesco Ltd. now owns 27,076,718 shares of the oil and gas producer's stock worth $849,126,000 after buying an additional 359,288 shares during the period. FMR LLC boosted its holdings in Enterprise Products Partners by 2.1% in the fourth quarter. FMR LLC now owns 14,734,295 shares of the oil and gas producer's stock valued at $462,067,000 after acquiring an additional 304,997 shares during the last quarter. Kayne Anderson Capital Advisors LP increased its position in Enterprise Products Partners by 16.7% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer's stock valued at $426,125,000 after purchasing an additional 1,947,017 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Enterprise Products Partners by 8.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer's stock worth $330,739,000 after purchasing an additional 851,188 shares during the last quarter. Finally, Westwood Holdings Group Inc. boosted its stake in shares of Enterprise Products Partners by 11.1% in the 4th quarter. Westwood Holdings Group Inc. now owns 5,830,088 shares of the oil and gas producer's stock valued at $182,832,000 after purchasing an additional 580,850 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company's stock.
Enterprise Products Partners Company Profile
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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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