Enterprise Products Partners (NYSE:EPD) Trading Up 0.7% – Here’s Why

Enterprise Products Partners L.P. (NYSE:EPD) shares were up 0.7% during trading on Monday . The company traded as high as $29.04 and last traded at $29.01. Approximately 961,919 shares were traded during trading, a decline of 78% from the average daily volume of 4,277,038 shares. The stock had previously closed at $28.82.

Analysts Set New Price Targets

Several research firms have commented on EPD. Bank of America began coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Finally, Truist Financial boosted their price objective 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 equities 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. According to MarketBeat.com, Enterprise Products Partners has an average rating of “Buy” and an average price target of $34.00.

Enterprise Products Partners Trading Up 1.1 %

The stock has a market capitalization of $63.26 billion, a price-to-earnings ratio of 10.87, a PEG ratio of 1.31 and a beta of 1.04. The company’s 50 day moving average is $29.22 and its 200 day moving average is $28.95. 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) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.39%. The business had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same quarter in the prior year, the company posted $0.60 EPS. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. On average, research analysts forecast that Enterprise Products Partners L.P. will post 2.7 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 7.20%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s payout ratio is 78.65%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of hedge funds have recently added to or reduced their stakes in the stock. Norden Group LLC acquired a new stake in Enterprise Products Partners during the 1st quarter worth approximately $587,000. Diversify Advisory Services LLC acquired a new stake in Enterprise Products Partners during the 1st quarter worth approximately $350,000. Lincoln National Corp raised its holdings in Enterprise Products Partners by 1.1% during the 1st quarter. Lincoln National Corp now owns 99,767 shares of the oil and gas producer’s stock worth $2,911,000 after buying an additional 1,073 shares during the period. First Command Advisory Services Inc. grew its stake in shares of Enterprise Products Partners by 130.4% during the 1st quarter. First Command Advisory Services Inc. now owns 1,613 shares of the oil and gas producer’s stock worth $47,000 after acquiring an additional 913 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in shares of Enterprise Products Partners by 60.8% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 10,227 shares of the oil and gas producer’s stock worth $298,000 after acquiring an additional 3,866 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Company Profile

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.