Enterprise Products Partners (NYSE:EPD) Trading Down 0.3%

Enterprise Products Partners L.P. (NYSE:EPD) fell 0.3% on Friday . The stock traded as low as $28.80 and last traded at $28.85. 1,164,204 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 4,890,333 shares. The stock had previously closed at $28.93.

Analyst Ratings Changes

Several research firms have recently weighed in on EPD. Barclays lifted their price objective on Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, March 26th. Truist Financial lifted their price objective on Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Stifel Nicolaus lifted their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Scotiabank lifted their price objective on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 4th. Finally, StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 9th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $32.58.

Enterprise Products Partners Stock Performance

The stock has a 50-day simple moving average of $28.58 and a 200-day simple moving average of $27.33. The company has a market capitalization of $63.01 billion, a price-to-earnings ratio of 11.53 and a beta of 1.02. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.95.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $14.62 billion for the quarter, compared to analyst estimates of $12.43 billion. During the same period in the prior year, the company posted $0.65 EPS. Enterprise Products Partners’s quarterly revenue was up 7.1% on a year-over-year basis. On average, analysts anticipate that Enterprise Products Partners L.P. will post 2.63 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

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

Hedge Funds Weigh In On Enterprise Products Partners

A number of institutional investors have recently made changes to their positions in EPD. White Pine Investment CO increased its holdings in shares of Enterprise Products Partners by 29.7% in the 1st quarter. White Pine Investment CO now owns 25,780 shares of the oil and gas producer’s stock valued at $752,000 after acquiring an additional 5,900 shares during the last quarter. Plan Group Financial LLC increased its holdings in shares of Enterprise Products Partners by 47.8% in the 1st quarter. Plan Group Financial LLC now owns 16,229 shares of the oil and gas producer’s stock valued at $474,000 after acquiring an additional 5,249 shares during the last quarter. Carlton Hofferkamp & Jenks Wealth Management LLC increased its holdings in shares of Enterprise Products Partners by 33.6% in the 1st quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 21,376 shares of the oil and gas producer’s stock valued at $618,000 after acquiring an additional 5,375 shares during the last quarter. LifeSteps Financial Inc. bought a new stake in shares of Enterprise Products Partners in the 1st quarter valued at approximately $62,000. Finally, Deroy & Devereaux Private Investment Counsel Inc. increased its holdings in shares of Enterprise Products Partners by 1.6% in the 1st quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 276,960 shares of the oil and gas producer’s stock valued at $8,082,000 after acquiring an additional 4,300 shares during the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

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.