Enterprise Products Partners (NYSE:EPD) Trading 0.1% Higher – Here’s What Happened

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price was up 0.1% during trading on Tuesday . The company traded as high as $32.45 and last traded at $32.37. Approximately 1,156,723 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 4,284,717 shares. The stock had previously closed at $32.34.

Analysts Set New Price Targets

Several research firms have issued reports on EPD. Bank of America began coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target on the stock. Truist Financial lifted their price target 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. 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, 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. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Enterprise Products Partners presently has an average rating of “Buy” and an average price target of $34.00.

Enterprise Products Partners Stock Performance

The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The company has a market capitalization of $71.36 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 1.69 and a beta of 1.04. The firm’s fifty day simple moving average is $29.77 and its 200 day simple moving average is $29.22.

Enterprise Products Partners (NYSE:EPD) last posted 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 net margin of 10.32% and a return on equity of 20.31%. The business had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same period in the previous year, the company posted $0.60 earnings per share. Enterprise Products Partners’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, research analysts predict 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 was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 6.38%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners’s payout ratio is 78.65%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of EPD. Pathway Financial Advisers LLC raised its position in shares of Enterprise Products Partners by 2,862.8% in the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock worth $225,777,000 after acquiring an additional 7,494,224 shares during the period. Barclays PLC raised its position in shares of Enterprise Products Partners by 110.0% during the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock worth $73,699,000 after purchasing an additional 1,326,010 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Enterprise Products Partners by 2,854.1% during the 3rd 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. FMR LLC raised its position in shares of Enterprise Products Partners by 9.3% during the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after purchasing an additional 1,225,988 shares during the last quarter. Finally, Merewether Investment Management LP acquired a new position in shares of Enterprise Products Partners during the 3rd quarter worth about $30,746,000. 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.