Enterprise Products Partners (NYSE:EPD) Trading 0.4% Higher – What’s Next?

Enterprise Products Partners L.P. (NYSE:EPD)’s share price rose 0.4% on Tuesday . The stock traded as high as $29.31 and last traded at $29.22. Approximately 667,014 shares were traded during trading, a decline of 85% from the average daily volume of 4,372,955 shares. The stock had previously closed at $29.11.

Analysts Set New Price Targets

Several equities research analysts have recently commented on EPD shares. Truist Financial upped their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Finally, Morgan Stanley cut their price objective 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. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $33.08.

Enterprise Products Partners Stock Performance

The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68. The firm’s 50-day moving average price is $29.14 and its 200-day moving average price is $28.94. The stock has a market cap of $64.36 billion, a P/E ratio of 11.56, a PEG ratio of 1.50 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The firm had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $14.23 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The business’s revenue was up 26.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.57 EPS. Sell-side analysts expect that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 7.09%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s payout ratio is 82.35%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JRM Investment Counsel LLC boosted its holdings in shares of Enterprise Products Partners by 2.1% in the 4th quarter. JRM Investment Counsel LLC now owns 505,364 shares of the oil and gas producer’s stock worth $13,316,000 after purchasing an additional 10,404 shares during the period. O Shaughnessy Asset Management LLC raised its stake 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 acquiring an additional 3,770 shares during the period. Platform Technology Partners lifted its holdings in shares of Enterprise Products Partners by 14.4% in the 4th quarter. Platform Technology Partners now owns 27,245 shares of the oil and gas producer’s stock worth $722,000 after acquiring an additional 3,426 shares during the last quarter. Nwam LLC boosted 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 purchasing an additional 4,184 shares during the period. Finally, Icon Wealth Advisors LLC bought a new position in Enterprise Products Partners during the 4th quarter valued at about $11,623,000. Hedge funds and other 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.