Enterprise Products Partners (NYSE:EPD) Trading Down 0.3% – What’s Next?

Enterprise Products Partners L.P. (NYSE:EPD) shares were down 0.3% during trading on Friday . The company traded as low as $32.68 and last traded at $32.79. Approximately 973,062 shares traded hands during trading, a decline of 80% from the average daily volume of 4,786,228 shares. The stock had previously closed at $32.87.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on EPD shares. Citigroup lifted their price objective on shares of Enterprise Products Partners from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday. Scotiabank started coverage on shares of Enterprise Products Partners in a report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price objective on the stock. Royal Bank of Canada reiterated 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 raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Finally, Truist Financial increased their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.70.

Enterprise Products Partners Trading Up 0.3 %

The business’s fifty day simple moving average is $32.52 and its two-hundred day simple moving average is $30.62. 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 stock has a market capitalization of $71.45 billion, a P/E ratio of 12.35, a P/E/G ratio of 1.54 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data 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 net margin of 10.32% and a return on equity of 20.31%. The company had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same period last year, the firm earned $0.72 EPS. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, analysts forecast that Enterprise Products Partners L.P. will post 2.67 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a $0.535 dividend. The ex-dividend date of this dividend is Friday, January 31st. This is an increase 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 6.49%. Enterprise Products Partners’s payout ratio is currently 80.15%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EPD. Strategic Wealth Partners Ltd. raised its position in shares of Enterprise Products Partners by 3.8% during the third quarter. Strategic Wealth Partners Ltd. now owns 9,731 shares of the oil and gas producer’s stock worth $283,000 after purchasing an additional 353 shares during the period. Daymark Wealth Partners LLC boosted its holdings in shares of Enterprise Products Partners by 3.7% in the third quarter. Daymark Wealth Partners LLC now owns 99,961 shares of the oil and gas producer’s stock valued at $2,910,000 after buying an additional 3,521 shares during the period. CWM LLC raised its holdings in shares of Enterprise Products Partners by 8.4% during the third quarter. CWM LLC now owns 72,044 shares of the oil and gas producer’s stock worth $2,097,000 after acquiring an additional 5,590 shares during the period. Patten Group Inc. lifted its position in Enterprise Products Partners by 4.6% in the 3rd quarter. Patten Group Inc. now owns 52,597 shares of the oil and gas producer’s stock valued at $1,531,000 after acquiring an additional 2,334 shares in the last quarter. Finally, Sanders Morris Harris LLC boosted its stake in Enterprise Products Partners by 28.1% in the 3rd quarter. Sanders Morris Harris LLC now owns 705,804 shares of the oil and gas producer’s stock worth $20,546,000 after purchasing an additional 154,822 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.