Enterprise Products Partners (NYSE:EPD) Stock Price Up 0.8%

Enterprise Products Partners L.P. (NYSE:EPD) shares traded up 0.8% during mid-day trading on Friday . The company traded as high as $29.12 and last traded at $29.12. 465,535 shares were traded during trading, a decline of 89% from the average session volume of 4,390,502 shares. The stock had previously closed at $28.88.

Analyst Ratings Changes

A number of analysts have recently commented on EPD shares. Morgan Stanley lowered their price target on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Monday, June 10th. Truist Financial boosted 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. Finally, StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Enterprise Products Partners presently has an average rating of “Moderate Buy” and a consensus price target of $33.08.

Enterprise Products Partners Stock Up 1.0 %

The stock’s fifty day moving average price is $29.19 and its 200-day moving average price is $28.92. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $63.31 billion, a price-to-earnings ratio of 11.42, a P/E/G ratio of 1.50 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last issued 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 business had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. During the same quarter in the previous year, the firm posted $0.57 earnings per share. The firm’s quarterly revenue was up 26.6% on a year-over-year basis. On average, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were given a dividend of $0.525 per share. The ex-dividend date was Wednesday, July 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a yield of 7.20%. Enterprise Products Partners’s dividend payout ratio is 82.35%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of institutional investors and hedge funds have recently made changes to their positions in EPD. JRM Investment Counsel LLC increased its position in Enterprise Products Partners by 2.1% during the fourth quarter. JRM Investment Counsel LLC now owns 505,364 shares of the oil and gas producer’s stock worth $13,316,000 after buying an additional 10,404 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC boosted its position in Enterprise Products Partners by 37.5% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 881,700 shares of the oil and gas producer’s stock worth $23,233,000 after purchasing an additional 240,300 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in shares of Enterprise Products Partners by 19.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock valued at $685,000 after purchasing an additional 3,770 shares during the last quarter. Platform Technology Partners raised its position in shares of Enterprise Products Partners by 14.4% in the fourth quarter. Platform Technology Partners now owns 27,245 shares of the oil and gas producer’s stock valued at $722,000 after purchasing an additional 3,426 shares during the period. Finally, Nwam LLC lifted its stake in shares of Enterprise Products Partners by 25.1% during the 1st quarter. Nwam LLC now owns 20,822 shares of the oil and gas producer’s stock worth $591,000 after buying an additional 4,184 shares during the last quarter. 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.