Enterprise Products Partners (NYSE:EPD) Shares Down 0.6%

Enterprise Products Partners L.P. (NYSE:EPD) traded down 0.6% during trading on Wednesday . The stock traded as low as $28.63 and last traded at $28.74. 926,974 shares were traded during trading, a decline of 81% from the average session volume of 4,889,905 shares. The stock had previously closed at $28.91.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Truist Financial boosted their price objective on Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Scotiabank boosted their price objective on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 4th. Wells Fargo & Company boosted their price objective on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. Finally, Mizuho reaffirmed a “buy” rating and issued a $34.00 target price on shares of Enterprise Products Partners in a research note on Thursday, April 4th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $32.58.

Enterprise Products Partners Stock Up 0.4 %

The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The company has a 50-day simple moving average of $28.55 and a two-hundred day simple moving average of $27.32. The stock has a market cap of $62.99 billion, a P/E ratio of 11.48 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.04. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The firm had revenue of $14.62 billion during the quarter, compared to the consensus estimate of $12.43 billion. During the same quarter in the previous year, the company posted $0.65 earnings per share. The business’s revenue was up 7.1% on a year-over-year basis. On average, equities analysts forecast that Enterprise Products Partners L.P. will post 2.63 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be issued a dividend of $0.515 per share. The ex-dividend date is Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.09%. Enterprise Products Partners’s dividend payout ratio is presently 81.75%.

Institutional Investors Weigh In On Enterprise Products Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Accordant Advisory Group Inc purchased a new stake in shares of Enterprise Products Partners in the first quarter worth $26,000. Burkett Financial Services LLC purchased a new stake in shares of Enterprise Products Partners in the fourth quarter worth $28,000. Stephens Consulting LLC purchased a new stake in shares of Enterprise Products Partners during the first quarter valued at $29,000. Rational Advisors LLC purchased a new stake in shares of Enterprise Products Partners during the third quarter valued at $43,000. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of Enterprise Products Partners during the third quarter valued at $48,000. 26.07% of the stock is owned by hedge funds and other 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.