Enterprise Products Partners (NYSE:EPD) Stock Price Down 0.3%

Enterprise Products Partners L.P. (NYSE:EPD) was down 0.3% on Friday . The stock traded as low as $28.80 and last traded at $28.85. Approximately 1,164,204 shares changed hands during trading, a decline of 76% from the average daily volume of 4,890,333 shares. The stock had previously closed at $28.93.

Analyst Ratings Changes

EPD has been the topic of several recent research reports. Mizuho restated a “buy” rating and set a $34.00 price target on shares of Enterprise Products Partners in a report on Thursday, April 4th. Stifel Nicolaus raised their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Truist Financial upped their target price on Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 price target on shares of Enterprise Products Partners in a research note on Friday, April 5th. Finally, StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 9th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $32.58.

Enterprise Products Partners Stock Up 0.4 %

The firm has a market cap of $63.01 billion, a P/E ratio of 11.53 and a beta of 1.02. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.95. The business has a 50-day moving average price of $28.55 and a 200-day moving average price of $27.32.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. The business had revenue of $14.62 billion for the quarter, compared to analysts’ expectations of $12.43 billion. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the business earned $0.65 EPS. On average, equities analysts forecast that Enterprise Products Partners L.P. will post 2.63 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be issued a $0.515 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.09%. Enterprise Products Partners’s dividend payout ratio is currently 81.75%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Hazlett Burt & Watson Inc. boosted its position in Enterprise Products Partners by 8.2% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 4,897 shares of the oil and gas producer’s stock worth $128,000 after purchasing an additional 371 shares in the last quarter. Ellsworth Advisors LLC boosted its holdings in Enterprise Products Partners by 1.9% during the third quarter. Ellsworth Advisors LLC now owns 20,780 shares of the oil and gas producer’s stock worth $573,000 after buying an additional 380 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in Enterprise Products Partners by 3.3% during the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 11,969 shares of the oil and gas producer’s stock valued at $328,000 after buying an additional 386 shares during the period. Register Financial Advisors LLC raised its position in shares of Enterprise Products Partners by 2.3% in the fourth quarter. Register Financial Advisors LLC now owns 17,320 shares of the oil and gas producer’s stock worth $456,000 after acquiring an additional 397 shares during the period. Finally, Your Advocates Ltd. LLP raised its position in shares of Enterprise Products Partners by 1.9% in the third quarter. Your Advocates Ltd. LLP now owns 22,481 shares of the oil and gas producer’s stock worth $615,000 after acquiring an additional 412 shares during the period. 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.