Enterprise Products Partners (NYSE:EPD) Stock Price Up 0.3% – What’s Next?

Enterprise Products Partners L.P. (NYSE:EPD)’s share price rose 0.3% on Friday . The stock traded as high as $33.90 and last traded at $33.76. Approximately 689,337 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 3,524,442 shares. The stock had previously closed at $33.67.

Analyst Upgrades and Downgrades

EPD has been the topic of a number of recent research reports. Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Scotiabank initiated coverage on shares of Enterprise Products Partners in a research report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price target for the company. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a research report on Wednesday, December 18th. Truist Financial lifted their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Finally, Bank of America initiated coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target for the company. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.60.

Enterprise Products Partners Stock Performance

The company has a fifty day moving average price of $31.94 and a two-hundred day moving average price of $30.17. The firm has a market cap of $72.84 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 1.57 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results 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 20.31% and a net margin of 10.32%. The business had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter last year, the firm posted $0.60 earnings per share. Enterprise Products Partners’s revenue was up 14.8% compared to the same quarter last year. As a group, equities research analysts expect that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a dividend of $0.535 per share. The ex-dividend date of this dividend is Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 6.37%. Enterprise Products Partners’s dividend payout ratio is currently 78.65%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Paragon Advisors LLC bought a new stake in shares of Enterprise Products Partners during the 3rd quarter worth $2,628,000. FMR LLC lifted its holdings in shares of Enterprise Products Partners by 9.3% during the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after purchasing an additional 1,225,988 shares during the last quarter. Peapack Gladstone Financial Corp boosted its position in shares of Enterprise Products Partners by 61.7% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock valued at $3,954,000 after purchasing an additional 51,809 shares during the period. Thrivent Financial for Lutherans increased its stake in Enterprise Products Partners by 5.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock worth $118,561,000 after purchasing an additional 200,625 shares in the last quarter. Finally, Brookfield Corp ON raised its holdings in Enterprise Products Partners by 6.2% during the 3rd quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock worth $138,639,000 after buying an additional 278,892 shares during the period. Institutional investors and hedge funds 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.