Enterprise Products Partners (NYSE:EPD) Shares Up 0.8% – Here’s What Happened

Enterprise Products Partners L.P. (NYSE:EPD)’s share price was up 0.8% on Monday . The stock traded as high as $33.43 and last traded at $33.21. Approximately 1,402,414 shares changed hands during trading, a decline of 71% from the average daily volume of 4,758,186 shares. The stock had previously closed at $32.93.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Bank of America began coverage on Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price for the company. Truist Financial lifted their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Citigroup boosted their price target on Enterprise Products Partners from $36.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Finally, Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a research note on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $34.70.

Enterprise Products Partners Price Performance

The stock has a market capitalization of $71.36 billion, a P/E ratio of 12.24, a PEG ratio of 1.54 and a beta of 1.09. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The company has a fifty day simple moving average of $32.48 and a two-hundred day simple moving average of $30.70.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.05. The company had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 EPS. Sell-side analysts expect that Enterprise Products Partners L.P. will post 2.87 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a dividend of $0.535 per share. 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 6.50%. The ex-dividend date of this dividend is Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is 79.55%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of institutional investors have recently made changes to their positions in EPD. OneAscent Financial Services LLC acquired a new stake in Enterprise Products Partners during the fourth quarter worth approximately $332,000. Intrepid Capital Management Inc. bought a new stake in shares of Enterprise Products Partners during the fourth quarter worth $209,000. Nemes Rush Group LLC increased its holdings in Enterprise Products Partners by 7.5% in the 4th quarter. Nemes Rush Group LLC now owns 6,202 shares of the oil and gas producer’s stock worth $194,000 after purchasing an additional 435 shares in the last quarter. Tradewinds LLC. bought a new stake in shares of Enterprise Products Partners during the fourth quarter worth about $267,000. Finally, National Bank of Canada FI grew its holdings in Enterprise Products Partners by 55.4% during the 4th quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock worth $32,000 after acquiring an additional 360 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

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.