Enterprise Products Partners (NYSE:EPD) Stock Price Up 0.4% – Here’s Why

Enterprise Products Partners L.P. (NYSE:EPD)’s share price shot up 0.4% during mid-day trading on Thursday . The company traded as high as $30.14 and last traded at $30.08. 861,173 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 4,290,787 shares. The stock had previously closed at $29.97.

Analysts Set New Price Targets

Several research firms recently weighed in on EPD. Truist Financial upped their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. 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. Bank of America assumed coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Finally, StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Buy” and an average target price of $34.00.

Enterprise Products Partners Stock Up 0.6 %

The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68. The company has a market cap of $66.02 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The company has a fifty day moving average price of $29.28 and a 200 day moving average price of $28.99.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.39% and a net margin of 10.32%. The business had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. During the same period in the previous year, the firm posted $0.60 EPS. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, analysts anticipate that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be issued a dividend of $0.525 per share. The ex-dividend date is Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.90%. Enterprise Products Partners’s dividend payout ratio is presently 78.65%.

Hedge Funds Weigh In On Enterprise Products Partners

Institutional investors have recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC boosted its position in Enterprise Products Partners by 19.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock worth $685,000 after purchasing an additional 3,770 shares during the last quarter. Catalyst Capital Advisors LLC grew its holdings in Enterprise Products Partners by 5.8% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 477,341 shares of the oil and gas producer’s stock valued at $13,895,000 after buying an additional 26,136 shares in the last quarter. Sanders Morris Harris LLC boosted its holdings in shares of 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. Pathway Financial Advisers LLC boosted its holdings in shares of Enterprise Products Partners by 2,862.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock worth $225,777,000 after purchasing an additional 7,494,224 shares during the period. Finally, Nwam LLC boosted its holdings in shares of Enterprise Products Partners by 25.1% in the 1st quarter. Nwam LLC now owns 20,822 shares of the oil and gas producer’s stock worth $591,000 after purchasing an additional 4,184 shares during the period. Institutional investors own 26.07% of the company’s stock.

About Enterprise Products Partners

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.