Enterprise Products Partners L.P. (NYSE:EPD – Get Free Report) shares traded up 0.4% on Thursday . The stock traded as high as $30.14 and last traded at $30.08. 861,173 shares traded hands during trading, a decline of 80% from the average session volume of 4,290,787 shares. The stock had previously closed at $29.97.
Analysts Set New Price Targets
A number of research analysts recently weighed in on EPD shares. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. 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 reiterated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Bank of America started coverage on Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective on the stock. Finally, Truist Financial increased their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $34.00.
View Our Latest Stock Analysis on EPD
Enterprise Products Partners Price Performance
Enterprise Products Partners (NYSE:EPD – Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). The firm had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.39%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period last year, the company earned $0.60 EPS. As a group, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.
Enterprise Products Partners Dividend Announcement
The firm 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 annualized dividend and a dividend yield of 6.94%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 78.65%.
Institutional Trading of Enterprise Products Partners
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Hantz Financial Services Inc. purchased a new position in Enterprise Products Partners during the second quarter worth about $25,000. Mascoma Wealth Management LLC acquired a new position in shares of Enterprise Products Partners in the 2nd quarter worth approximately $29,000. DiNuzzo Private Wealth Inc. boosted its position in shares of Enterprise Products Partners by 1,000.0% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 1,000 shares during the period. Assetmark Inc. increased its holdings in Enterprise Products Partners by 19,800.0% in the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after purchasing an additional 1,188 shares during the last quarter. Finally, Sanctuary Wealth Management L.L.C. purchased a new stake in Enterprise Products Partners in the third quarter valued at approximately $36,000. 26.07% of the stock is owned by institutional investors and hedge funds.
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.
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