Enterprise Products Partners L.P. (NYSE:EPD – Get Free Report) shot up 0.4% during mid-day trading on Thursday after Royal Bank of Canada raised their price target on the stock from $35.00 to $36.00. Royal Bank of Canada currently has an outperform rating on the stock. Enterprise Products Partners traded as high as $29.41 and last traded at $29.31. 449,104 shares traded hands during trading, a decline of 90% from the average session volume of 4,291,917 shares. The stock had previously closed at $29.19.
A number of other analysts have also weighed in on the stock. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Truist Financial raised their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $33.73.
Check Out Our Latest Analysis on EPD
Hedge Funds Weigh In On Enterprise Products Partners
Enterprise Products Partners Price Performance
The business’s 50 day moving average is $29.21 and its two-hundred day moving average is $28.97. The firm has a market cap of $63.27 billion, a P/E ratio of 11.43, a P/E/G ratio of 1.49 and a beta of 1.03. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98.
Enterprise Products Partners (NYSE:EPD – Get Free Report) last announced its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The firm had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $14.23 billion. During the same period in the prior year, the business earned $0.57 EPS. Enterprise Products Partners’s quarterly revenue was up 26.6% on a year-over-year basis. As a group, analysts anticipate that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current year.
Enterprise Products Partners Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 7.21%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 82.35%.
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.
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