Enterprise Products Partners (NYSE:EPD) Trading Up 0.1% – Here’s Why

Shares of Enterprise Products Partners L.P. (NYSE:EPD) shot up 0.1% during mid-day trading on Thursday . The stock traded as high as $33.20 and last traded at $33.19. 1,051,954 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 4,786,786 shares. The stock had previously closed at $33.14.

Analyst Ratings Changes

Several research firms have recently issued reports on EPD. Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Truist Financial upped their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Scotiabank began coverage on Enterprise Products Partners in a report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 target price for the company. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Finally, Wells Fargo & Company lowered Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners presently has an average rating of “Moderate Buy” and an average target price of $34.70.

Enterprise Products Partners Trading Up 1.8 %

The firm has a fifty day simple moving average of $32.85 and a two-hundred day simple moving average of $31.09. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The firm has a market capitalization of $72.41 billion, a P/E ratio of 12.42, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09.

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

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.535 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.41%. The ex-dividend date was Friday, January 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 79.55%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of large investors have recently made changes to their positions in EPD. Verity & Verity LLC raised its position in shares of Enterprise Products Partners by 30.8% in the fourth quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock worth $3,470,000 after buying an additional 26,032 shares in the last quarter. Spinnaker Trust purchased a new stake in shares of Enterprise Products Partners in the fourth quarter worth $280,000. FourThought Financial Partners LLC raised its position in shares of Enterprise Products Partners by 18.5% in the fourth quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer’s stock worth $4,407,000 after buying an additional 21,970 shares in the last quarter. Paragon Advisors LLC purchased a new stake in shares of Enterprise Products Partners in the third quarter worth $2,628,000. Finally, FMR LLC raised its position in shares of Enterprise Products Partners by 9.3% in the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after buying an additional 1,225,988 shares in the last quarter. 26.07% of the stock is owned by institutional investors.

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.