Enterprise Products Partners (NYSE:EPD) Stock Price Up 0.7% - Here's Why

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report)'s stock price shot up 0.7% during trading on Monday . The company traded as high as $29.04 and last traded at $29.01. 961,919 shares were traded during mid-day trading, a decline of 78% from the average session volume of 4,277,038 shares. The stock had previously closed at $28.82.

Analyst Ratings Changes

EPD has been the subject of several recent research reports. US Capital Advisors upgraded shares of Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, October 28th. Bank of America initiated coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a "buy" rating and a $35.00 target price on the stock. Royal Bank of Canada restated an "outperform" rating and set a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. StockNews.com lowered shares of Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 12th. Finally, Truist Financial raised their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Enterprise Products Partners has an average rating of "Buy" and a consensus target price of $34.00.

Enterprise Products Partners Trading Up 1.1 %

The business has a fifty day moving average of $29.22 and a two-hundred day moving average of $28.96. The firm has a market cap of $63.22 billion, a price-to-earnings ratio of 10.91, a PEG ratio of 1.31 and a beta of 1.04. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.39% and a net margin of 10.32%. The firm had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same period last year, the firm earned $0.60 EPS. The company's quarterly revenue was up 14.8% compared to the same quarter last year. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 7.21%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners's payout ratio is currently 78.65%.

Hedge Funds Weigh In On Enterprise Products Partners

Institutional investors have recently made changes to their positions in the stock. Meixler Investment Management Ltd. lifted its holdings in Enterprise Products Partners by 3.5% in the 3rd quarter. Meixler Investment Management Ltd. now owns 74,775 shares of the oil and gas producer's stock valued at $2,177,000 after purchasing an additional 2,525 shares in the last quarter. TRU Independence Asset Management 2 LLC purchased a new position in shares of Enterprise Products Partners during the third quarter valued at approximately $914,000. Beam Wealth Advisors Inc. grew its stake in Enterprise Products Partners by 2.7% in the 3rd quarter. Beam Wealth Advisors Inc. now owns 29,952 shares of the oil and gas producer's stock worth $872,000 after acquiring an additional 801 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of Enterprise Products Partners during the 3rd quarter worth $91,000. Finally, Stockman Wealth Management Inc. boosted its holdings in shares of Enterprise Products Partners by 2.4% during the third quarter. Stockman Wealth Management Inc. now owns 25,322 shares of the oil and gas producer's stock worth $737,000 after purchasing an additional 600 shares during the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

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.