Enterprise Products Partners (NYSE:EPD) Shares Up 0.7% – What’s Next?

Enterprise Products Partners L.P. (NYSE:EPD)’s share price rose 0.7% during mid-day trading on Thursday . The company traded as high as $29.41 and last traded at $29.38. Approximately 642,085 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 4,320,993 shares. The stock had previously closed at $29.19.

Wall Street Analysts Forecast Growth

EPD has been the subject of several research analyst reports. StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Truist Financial boosted their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Enterprise Products Partners currently has an average rating of “Buy” and an average target price of $33.50.

Enterprise Products Partners Stock Up 0.9 %

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91. The firm has a 50 day simple moving average of $29.13 and a two-hundred day simple moving average of $28.97. The stock has a market cap of $63.95 billion, a P/E ratio of 11.52, a P/E/G ratio of 1.50 and a beta of 1.03.

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

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.13%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is currently 82.35%.

Hedge Funds Weigh In On Enterprise Products Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lion Street Advisors LLC boosted its position in shares of Enterprise Products Partners by 5.6% during the 3rd quarter. Lion Street Advisors LLC now owns 11,201 shares of the oil and gas producer’s stock valued at $326,000 after purchasing an additional 596 shares in the last quarter. Valeo Financial Advisors LLC lifted its stake in Enterprise Products Partners by 5.5% during the third quarter. Valeo Financial Advisors LLC now owns 105,033 shares of the oil and gas producer’s stock valued at $3,058,000 after purchasing an additional 5,482 shares during the last quarter. LongView Wealth Management bought a new stake in Enterprise Products Partners during the third quarter worth approximately $229,000. Charles Schwab Trust Co grew its position in Enterprise Products Partners by 0.8% in the third quarter. Charles Schwab Trust Co now owns 66,262 shares of the oil and gas producer’s stock worth $1,929,000 after buying an additional 544 shares during the last quarter. Finally, Fermata Advisors LLC increased its holdings in shares of Enterprise Products Partners by 15.5% in the third quarter. Fermata Advisors LLC now owns 9,914 shares of the oil and gas producer’s stock valued at $289,000 after buying an additional 1,330 shares in the last quarter. 26.07% of the stock is owned by institutional investors.

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.