Enterprise Products Partners (NYSE:EPD) Stock Price Up 0.7% – Here’s Why

Enterprise Products Partners L.P. (NYSE:EPD) shares shot up 0.7% on Tuesday . The stock traded as high as $32.32 and last traded at $32.15. 724,635 shares were traded during mid-day trading, a decline of 72% from the average session volume of 2,629,825 shares. The stock had previously closed at $31.93.

Analyst Ratings Changes

A number of analysts recently commented on EPD shares. Royal Bank of Canada restated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a research report on Wednesday, December 18th. Truist Financial lifted their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. 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, Bank of America started coverage on Enterprise Products Partners in a report on Thursday, October 17th. They set 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 given a strong buy rating to the stock. According to data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.50.

Enterprise Products Partners Stock Performance

The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The stock has a market cap of $70.27 billion, a PE ratio of 12.14, a PEG ratio of 1.66 and a beta of 1.08. The company’s 50-day moving average price is $31.58 and its two-hundred day moving average price is $30.03.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share 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 firm had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. During the same quarter in the previous year, the business earned $0.60 EPS. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a dividend of $0.535 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a dividend yield of 6.60%. Enterprise Products Partners’s dividend payout ratio (DPR) is 78.65%.

Institutional Trading of Enterprise Products Partners

Several institutional investors have recently added to or reduced their stakes in EPD. Curi RMB Capital LLC grew its position in shares of Enterprise Products Partners by 0.5% during the third quarter. Curi RMB Capital LLC now owns 73,828 shares of the oil and gas producer’s stock worth $2,149,000 after purchasing an additional 339 shares in the last quarter. Versant Capital Management Inc boosted its stake in Enterprise Products Partners by 10.7% in the 4th quarter. Versant Capital Management Inc now owns 3,519 shares of the oil and gas producer’s stock worth $110,000 after purchasing an additional 340 shares during the period. Zega Financial LLC grew its holdings in Enterprise Products Partners by 1.7% during the 3rd 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 in the last quarter. Tranquility Partners LLC raised its position 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 buying an additional 346 shares during the last quarter. Finally, Princeton Global Asset Management LLC lifted its holdings in shares of Enterprise Products Partners by 4.9% in the third quarter. Princeton Global Asset Management LLC now owns 7,510 shares of the oil and gas producer’s stock worth $219,000 after buying an additional 350 shares in the last quarter. 26.07% of the stock is currently owned by hedge funds and other 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.