Enterprise Products Partners (NYSE:EPD) Trading Up 0.1%

Enterprise Products Partners L.P. (NYSE:EPD) shares were up 0.1% on Monday . The stock traded as high as $29.02 and last traded at $28.90. Approximately 478,291 shares traded hands during trading, a decline of 89% from the average daily volume of 4,495,105 shares. The stock had previously closed at $28.87.

Analysts Set New Price Targets

EPD has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their price objective on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Thursday, May 16th. Truist Financial upped their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Finally, Morgan Stanley lowered their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, June 10th. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.08.

Enterprise Products Partners Trading Up 0.7 %

The firm has a market cap of $63.30 billion, a price-to-earnings ratio of 11.30, a price-to-earnings-growth ratio of 1.47 and a beta of 1.03. The company’s 50-day moving average price is $29.18 and its 200-day moving average price is $28.80. 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 posted its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.02). Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The firm had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. During the same quarter in the previous year, the firm posted $0.57 earnings per share. The company’s quarterly revenue was up 26.6% on a year-over-year basis. Equities analysts expect that Enterprise Products Partners L.P. will post 2.72 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 7.20%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Wednesday, July 31st. Enterprise Products Partners’s payout ratio is presently 82.35%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of hedge funds have recently modified their holdings of the business. Cadence Bank grew its stake in shares of Enterprise Products Partners by 0.7% during the first quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock worth $1,530,000 after purchasing an additional 365 shares in the last quarter. McAdam LLC lifted its holdings in Enterprise Products Partners by 1.3% during the 2nd quarter. McAdam LLC now owns 28,670 shares of the oil and gas producer’s stock worth $831,000 after buying an additional 372 shares during the last quarter. Advisor OS LLC boosted its position in shares of Enterprise Products Partners by 1.3% during the 2nd quarter. Advisor OS LLC now owns 29,485 shares of the oil and gas producer’s stock worth $854,000 after acquiring an additional 379 shares in the last quarter. Ellsworth Advisors LLC increased its holdings in shares of Enterprise Products Partners by 1.8% in the 2nd quarter. Ellsworth Advisors LLC now owns 21,959 shares of the oil and gas producer’s stock valued at $636,000 after acquiring an additional 383 shares during the last quarter. Finally, Stokes Family Office LLC raised its position in shares of Enterprise Products Partners by 2.5% during the 2nd quarter. Stokes Family Office LLC now owns 16,139 shares of the oil and gas producer’s stock worth $468,000 after acquiring an additional 399 shares in the last quarter. 26.07% of the stock is currently 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.