Enterprise Products Partners (NYSE:EPD) Trading 0.1% Higher Following Dividend Announcement

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price shot up 0.1% on Thursday after the company announced a dividend. The stock traded as high as $29.20 and last traded at $29.18. 880,373 shares were traded during mid-day trading, a decline of 80% from the average session volume of 4,372,881 shares. The stock had previously closed at $29.16.

The newly announced dividend which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be paid a $0.525 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date is Wednesday, July 31st. This represents a $2.10 dividend on an annualized basis and a yield of 7.15%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.78%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a research report on Friday, April 5th. Truist Financial upped their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Wells Fargo & Company lifted their price objective on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Scotiabank upped their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 4th. Finally, Morgan Stanley cut their target price on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Monday, June 10th. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Buy” and a consensus price target of $32.77.

Enterprise Products Partners Price Performance

The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.68 and a current ratio of 0.93. The firm has a market cap of $63.81 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 1.36 and a beta of 1.04. The stock has a 50 day simple moving average of $28.63 and a two-hundred day simple moving average of $28.08.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.73%. The business had revenue of $14.76 billion for the quarter, compared to analysts’ expectations of $13.82 billion. During the same quarter last year, the company earned $0.64 EPS. The business’s revenue was up 18.6% on a year-over-year basis. Sell-side analysts expect that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Accordant Advisory Group Inc purchased a new position in Enterprise Products Partners during the first quarter worth approximately $26,000. Burkett Financial Services LLC acquired a new position in Enterprise Products Partners during the fourth quarter worth $28,000. Stephens Consulting LLC purchased a new position in Enterprise Products Partners during the first quarter valued at $29,000. Palisade Asset Management LLC acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at about $29,000. Finally, First Command Advisory Services Inc. increased its stake in shares of Enterprise Products Partners by 130.4% during the first quarter. First Command Advisory Services Inc. now owns 1,613 shares of the oil and gas producer’s stock worth $47,000 after purchasing an additional 913 shares in the last quarter. Institutional investors and hedge funds 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.