Enterprise Products Partners (NYSE:EPD) Stock Price Down 1.3%

Enterprise Products Partners L.P. (NYSE:EPD) fell 1.3% during mid-day trading on Tuesday . The company traded as low as $27.95 and last traded at $28.22. Approximately 2,922,474 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 4,932,898 shares. The stock had previously closed at $28.59.

Analyst Upgrades and Downgrades

EPD has been the subject of a number of research analyst reports. Truist Financial boosted their price target on Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Wells Fargo & Company lifted their price objective on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 price target on shares of Enterprise Products Partners in a research report on Friday, April 5th. Stifel Nicolaus raised their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Finally, Barclays upped their price target on Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 26th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $32.58.

Enterprise Products Partners Stock Down 1.8 %

The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.95. The stock has a 50 day simple moving average of $28.61 and a 200 day simple moving average of $27.34. The firm has a market capitalization of $60.88 billion, a PE ratio of 11.20 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $12.43 billion. During the same period in the previous year, the firm earned $0.65 earnings per share. The business’s revenue was up 7.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.63 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be given a dividend of $0.515 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.06 annualized dividend and a dividend yield of 7.34%. Enterprise Products Partners’s dividend payout ratio is presently 81.75%.

Institutional Investors Weigh In On Enterprise Products Partners

Several hedge funds have recently made changes to their positions in EPD. Violich Capital Management Inc. boosted its holdings in Enterprise Products Partners by 4.8% in the first quarter. Violich Capital Management Inc. now owns 17,950 shares of the oil and gas producer’s stock worth $524,000 after acquiring an additional 825 shares in the last quarter. Concord Wealth Partners boosted its holdings in Enterprise Products Partners by 429.6% in the first quarter. Concord Wealth Partners now owns 3,596 shares of the oil and gas producer’s stock worth $105,000 after acquiring an additional 2,917 shares in the last quarter. Mayflower Financial Advisors LLC boosted its holdings in Enterprise Products Partners by 14.0% in the first quarter. Mayflower Financial Advisors LLC now owns 23,958 shares of the oil and gas producer’s stock worth $699,000 after acquiring an additional 2,944 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in Enterprise Products Partners by 6.4% in the 1st quarter. Commonwealth Equity Services LLC now owns 1,022,459 shares of the oil and gas producer’s stock worth $29,835,000 after buying an additional 61,422 shares in the last quarter. Finally, RWA Wealth Partners LLC lifted its stake in Enterprise Products Partners by 3.3% during the 1st quarter. RWA Wealth Partners LLC now owns 33,314 shares of the oil and gas producer’s stock valued at $972,000 after acquiring an additional 1,079 shares during the period. 26.07% of the stock is currently owned by institutional investors.

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.