Enterprise Products Partners (NYSE:EPD) Shares Up 0.4% on Analyst Upgrade

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) shot up 0.4% during mid-day trading on Thursday after Royal Bank of Canada raised their price target on the stock from $35.00 to $36.00. Royal Bank of Canada currently has an outperform rating on the stock. Enterprise Products Partners traded as high as $29.41 and last traded at $29.31. 449,104 shares were traded during trading, a decline of 90% from the average session volume of 4,291,917 shares. The stock had previously closed at $29.19.

A number of other equities research analysts also recently weighed in on the company. Truist Financial boosted their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a "buy" rating in a research report on Wednesday, July 31st. StockNews.com lowered shares of Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a research note on Monday, August 12th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $33.73.

Institutional Investors Weigh In On Enterprise Products Partners

Several large investors have recently modified their holdings of EPD. Strategic Wealth Partners Ltd. increased its stake in Enterprise Products Partners by 3.8% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 9,731 shares of the oil and gas producer's stock worth $283,000 after purchasing an additional 353 shares in the last quarter. Cadence Bank raised its holdings in shares of Enterprise Products Partners by 0.7% during the first quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer's stock worth $1,530,000 after acquiring an additional 365 shares during the period. McAdam LLC lifted its position in Enterprise Products Partners by 1.3% in the 2nd quarter. McAdam LLC now owns 28,670 shares of the oil and gas producer's stock valued at $831,000 after acquiring an additional 372 shares in the last quarter. Ellenbecker Investment Group boosted its stake in Enterprise Products Partners by 1.5% in the 3rd quarter. Ellenbecker Investment Group now owns 25,247 shares of the oil and gas producer's stock worth $735,000 after purchasing an additional 374 shares during the period. Finally, Advisor OS LLC increased its holdings in Enterprise Products Partners by 1.3% during the 2nd quarter. Advisor OS LLC now owns 29,485 shares of the oil and gas producer's stock worth $854,000 after purchasing an additional 379 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Price Performance

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 stock has a market cap of $63.26 billion, a price-to-earnings ratio of 11.43, a P/E/G ratio of 1.49 and a beta of 1.03. The company has a 50 day simple moving average of $29.21 and a 200-day simple moving average of $28.97.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts' consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The business had revenue of $13.48 billion for the quarter, compared to analyst estimates of $14.23 billion. During the same quarter in the prior year, the company earned $0.57 earnings per share. The company's quarterly revenue was up 26.6% on a year-over-year basis. Research analysts expect that Enterprise Products Partners L.P. will post 2.71 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently announced 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. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.21%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners's dividend payout ratio is presently 82.35%.

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.