Enterprise Products Partners (NYSE:EPD) Trading 0.1% Higher – Here’s What Happened

Enterprise Products Partners L.P. (NYSE:EPD) was up 0.1% on Wednesday . The company traded as high as $33.40 and last traded at $33.24. Approximately 705,925 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 4,746,308 shares. The stock had previously closed at $33.21.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EPD. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Bank of America assumed coverage on Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target on the stock. Finally, Scotiabank began coverage on shares of Enterprise Products Partners in a research report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price objective for the company. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.70.

Enterprise Products Partners Stock Performance

The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The firm’s fifty day moving average price is $32.48 and its 200 day moving average price is $30.70. The stock has a market capitalization of $71.24 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.05. The business had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 earnings per share. Analysts forecast that Enterprise Products Partners L.P. will post 2.87 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a $0.535 dividend. The ex-dividend date is Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.51%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 79.55%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of institutional investors and hedge funds have recently made changes to their positions in EPD. Rosenberg Matthew Hamilton grew its holdings in Enterprise Products Partners by 364.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 656 shares in the last quarter. Tidemark LLC lifted its position in shares of Enterprise Products Partners by 54.3% during the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 318 shares during the last quarter. Lee Danner & Bass Inc. acquired a new position in shares of Enterprise Products Partners during the fourth quarter worth $29,000. Crowley Wealth Management Inc. purchased a new position in Enterprise Products Partners in the fourth quarter valued at $30,000. Finally, DiNuzzo Private Wealth Inc. raised its stake in Enterprise Products Partners by 1,000.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 1,000 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

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.