Enterprise Products Partners L.P. (NYSE:EPD – Get Free Report) fell 0.2% during trading on Friday . The stock traded as low as $32.32 and last traded at $32.36. 1,475,697 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 2,960,891 shares. The stock had previously closed at $32.44.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the stock. Truist Financial lifted their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Scotiabank assumed coverage on Enterprise Products Partners in a research note on Friday. They issued a “sector perform” rating and a $33.00 target price for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company lowered Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a research report on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Enterprise Products Partners has a consensus rating of “Moderate Buy” and a consensus price target of $34.60.
Get Our Latest Research Report on EPD
Enterprise Products Partners Trading Down 0.7 %
Enterprise Products Partners (NYSE:EPD – Get Free Report) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). The business had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.60 earnings per share. As a group, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.
Enterprise Products Partners Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a dividend of $0.535 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $2.14 annualized dividend and a yield of 6.64%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio is currently 80.15%.
Institutional Investors Weigh In On Enterprise Products Partners
A number of large investors have recently added to or reduced their stakes in EPD. Pathway Financial Advisers LLC boosted its stake in shares of Enterprise Products Partners by 2,862.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock worth $225,777,000 after buying an additional 7,494,224 shares during the last quarter. Barclays PLC boosted its position in Enterprise Products Partners by 110.0% in the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock worth $73,699,000 after purchasing an additional 1,326,010 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Enterprise Products Partners by 2,854.1% during the 3rd quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock valued at $37,474,000 after purchasing an additional 1,243,741 shares during the period. FMR LLC increased its position in shares of Enterprise Products Partners by 9.3% during the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after purchasing an additional 1,225,988 shares during the last quarter. Finally, Merewether Investment Management LP bought a new position in shares of Enterprise Products Partners in the 3rd quarter worth approximately $30,746,000. Institutional investors own 26.07% of the company’s stock.
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.
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