Enterprise Products Partners (NYSE:EPD) Trading 0.9% Higher – Here’s Why

Enterprise Products Partners L.P. (NYSE:EPD)’s share price traded up 0.9% on Friday . The stock traded as high as $30.84 and last traded at $30.80. 657,821 shares changed hands during trading, a decline of 85% from the average session volume of 4,297,539 shares. The stock had previously closed at $30.53.

Wall Street Analysts Forecast Growth

EPD has been the topic of several recent research reports. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a research note on Wednesday. Finally, Bank of America began coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price for the company. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $34.20.

Enterprise Products Partners Price Performance

The company has a market cap of $67.17 billion, a PE ratio of 11.61, a P/E/G ratio of 1.67 and a beta of 1.08. 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 50-day moving average price of $30.92 and a two-hundred day moving average price of $29.72.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts’ consensus estimates 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 prior year, the company posted $0.60 EPS. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. Sell-side analysts expect that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 6.78%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners’s payout ratio is currently 78.65%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Curi RMB Capital LLC boosted its stake in Enterprise Products Partners by 0.5% in the third quarter. Curi RMB Capital LLC now owns 73,828 shares of the oil and gas producer’s stock valued at $2,149,000 after acquiring an additional 339 shares during the period. Zega Financial LLC lifted its stake in Enterprise Products Partners by 1.7% in the third quarter. Zega Financial LLC now owns 20,870 shares of the oil and gas producer’s stock valued at $608,000 after buying an additional 344 shares during the last quarter. Tranquility Partners LLC boosted its holdings in shares of Enterprise Products Partners by 1.5% during the third quarter. Tranquility Partners LLC now owns 23,204 shares of the oil and gas producer’s stock valued at $675,000 after acquiring an additional 346 shares during the period. Princeton Global Asset Management LLC boosted its stake in Enterprise Products Partners by 4.9% during the 3rd quarter. Princeton Global Asset Management LLC now owns 7,510 shares of the oil and gas producer’s stock valued at $219,000 after purchasing an additional 350 shares during the period. Finally, Strategic Wealth Partners Ltd. increased its stake in shares of Enterprise Products Partners by 3.8% in the third quarter. Strategic Wealth Partners Ltd. now owns 9,731 shares of the oil and gas producer’s stock valued at $283,000 after purchasing an additional 353 shares during the period. 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.