Enterprise Products Partners (NYSE:EPD) Stock Price Up 0.4%

Shares of Enterprise Products Partners L.P. (NYSE:EPD) shot up 0.4% on Wednesday . The company traded as high as $29.33 and last traded at $29.25. 645,504 shares were traded during mid-day trading, a decline of 86% from the average session volume of 4,614,358 shares. The stock had previously closed at $29.13.

Wall Street Analyst Weigh In

A number of research analysts have commented on EPD shares. JPMorgan Chase & Co. reduced their price target on shares of Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Thursday, May 16th. StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Truist Financial boosted their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Morgan Stanley cut 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. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.08.

Enterprise Products Partners Price Performance

The stock has a market capitalization of $63.60 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 1.33 and a beta of 1.04. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.93 and a quick ratio of 0.68. The stock’s 50 day moving average is $29.07 and its two-hundred day moving average is $28.56.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.02). Enterprise Products Partners had a return on equity of 20.18% and a net margin of 10.48%. The firm had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $14.23 billion. During the same period last year, the firm earned $0.57 EPS. Enterprise Products Partners’s revenue was up 26.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were paid a $0.525 dividend. 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 7.17%. The ex-dividend date of this dividend was Wednesday, July 31st. Enterprise Products Partners’s payout ratio is presently 82.35%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of large investors have recently bought and sold shares of the stock. Hantz Financial Services Inc. acquired a new position in Enterprise Products Partners during the second quarter valued at approximately $25,000. Stephens Consulting LLC acquired a new position in shares of Enterprise Products Partners during the first quarter worth $29,000. Palisade Asset Management LLC purchased a new position in shares of Enterprise Products Partners in the first quarter valued at $29,000. Mascoma Wealth Management LLC acquired a new stake in Enterprise Products Partners during the 2nd quarter valued at $29,000. Finally, Burkett Financial Services LLC acquired a new position in shares of Enterprise Products Partners in the fourth quarter worth about $28,000. 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.