Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report)'s share price traded down 0.3% on Friday . The company traded as low as $29.04 and last traded at $29.05. 476,936 shares were traded during mid-day trading, a decline of 89% from the average session volume of 4,284,866 shares. The stock had previously closed at $29.13.
Wall Street Analyst Weigh In
A number of analysts have weighed in on the stock. Royal Bank of Canada increased their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company an "outperform" rating in a report on Wednesday. Truist Financial increased their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. Bank of America assumed coverage on shares of Enterprise Products Partners in a report on Thursday. They issued a "buy" rating and a $35.00 price target for the company. Finally, StockNews.com downgraded shares of Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a report on Monday, August 12th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $33.73.
Check Out Our Latest Research Report on EPD
Enterprise Products Partners Stock Up 0.1 %
The company has a market capitalization of $63.34 billion, a P/E ratio of 11.39, a P/E/G ratio of 1.49 and a beta of 1.03. The business's fifty day moving average price is $29.21 and its 200 day moving average price is $28.97. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98.
Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.02). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The firm had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $14.23 billion. During the same period in the prior year, the business earned $0.57 earnings per share. The company's revenue for the quarter was up 26.6% on a year-over-year basis. As a group, equities research analysts predict that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current fiscal year.
Enterprise Products Partners Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 7.20%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners's dividend payout ratio is currently 82.35%.
Institutional Investors Weigh In On Enterprise Products Partners
Several hedge funds and other institutional investors have recently added to or reduced their stakes in EPD. CWM LLC increased its position in Enterprise Products Partners by 9.9% in the 1st quarter. CWM LLC now owns 47,820 shares of the oil and gas producer's stock valued at $1,395,000 after acquiring an additional 4,307 shares in the last quarter. American National Bank increased its position in Enterprise Products Partners by 1,005.2% in the 1st quarter. American National Bank now owns 20,469 shares of the oil and gas producer's stock valued at $597,000 after acquiring an additional 18,617 shares in the last quarter. Park Avenue Securities LLC acquired a new stake in Enterprise Products Partners in the 1st quarter valued at about $951,000. Cadent Capital Advisors LLC acquired a new stake in shares of Enterprise Products Partners during the 1st quarter worth approximately $223,000. Finally, Sanders Morris Harris LLC raised its stake in shares of Enterprise Products Partners by 6,126.0% during the first quarter. Sanders Morris Harris LLC now owns 548,888 shares of the oil and gas producer's stock worth $16,017,000 after buying an additional 540,072 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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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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