Enterprise Products Partners (NYSE:EPD) Trading Down 0% – Here’s What Happened

Enterprise Products Partners L.P. (NYSE:EPD) was down 0% during trading on Friday . The company traded as low as $30.17 and last traded at $30.24. Approximately 875,187 shares were traded during trading, a decline of 80% from the average daily volume of 4,292,047 shares. The stock had previously closed at $30.25.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on EPD. Bank of America initiated coverage on Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Truist Financial raised their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Finally, StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $34.00.

Enterprise Products Partners Stock Up 0.6 %

The company has a market cap of $66.02 billion, a PE ratio of 11.39, a P/E/G ratio of 1.55 and a beta of 1.04. The stock has a 50-day moving average of $29.28 and a 200-day moving average of $28.99. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.39% and a net margin of 10.32%. The business had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. During the same period in the previous year, the firm posted $0.60 EPS. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. Sell-side analysts predict that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be given a $0.525 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 6.90%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 78.65%.

Institutional Trading of Enterprise Products Partners

Several hedge funds and other institutional investors have recently bought and sold shares of EPD. Pathway Financial Advisers LLC grew its stake in shares of Enterprise Products Partners by 2,862.8% during the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after buying an additional 7,494,224 shares during the last quarter. Blackstone Inc. boosted its holdings in Enterprise Products Partners by 6.3% during the 1st quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock valued at $686,712,000 after acquiring an additional 1,391,370 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Enterprise Products Partners by 2,854.1% in the third quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock worth $37,474,000 after purchasing an additional 1,243,741 shares during the last quarter. Berkley W R Corp boosted its position in Enterprise Products Partners by 24.5% during the 1st quarter. Berkley W R Corp now owns 5,089,794 shares of the oil and gas producer’s stock valued at $148,520,000 after buying an additional 1,000,000 shares during the period. Finally, Distillate Capital Partners LLC grew its holdings in Enterprise Products Partners by 160,136.7% in the 2nd quarter. Distillate Capital Partners LLC now owns 767,534 shares of the oil and gas producer’s stock worth $22,243,000 after acquiring an additional 767,055 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

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.