Enterprise Products Partners (NYSE:EPD) Trading 0.7% Higher

Enterprise Products Partners L.P. (NYSE:EPD) shares traded up 0.7% during mid-day trading on Wednesday . The stock traded as high as $29.25 and last traded at $29.11. 2,281,208 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 4,528,616 shares. The stock had previously closed at $28.90.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Thursday, May 16th. Truist Financial boosted their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. StockNews.com upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 4th. Finally, Morgan Stanley cut their price objective on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, June 10th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $33.08.

Enterprise Products Partners Stock Down 0.1 %

The business has a fifty day moving average of $28.93 and a 200 day moving average of $28.43. The stock has a market cap of $62.67 billion, a price-to-earnings ratio of 11.42, a P/E/G ratio of 1.33 and a beta of 1.04. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.93 and a quick ratio of 0.68.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.02). The company had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. Enterprise Products Partners had a return on equity of 20.18% and a net margin of 10.48%. The firm’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.57 earnings per share. On average, equities analysts predict that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st will be given a $0.525 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a dividend yield of 7.28%. The ex-dividend date of this dividend is Wednesday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 82.35%.

Institutional Trading of Enterprise Products Partners

Several hedge funds have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. bought a new stake in shares of Enterprise Products Partners in the second quarter valued at approximately $25,000. Accordant Advisory Group Inc bought a new stake in Enterprise Products Partners in the 1st quarter valued at $26,000. Stephens Consulting LLC acquired a new stake in Enterprise Products Partners in the 1st quarter worth $29,000. Palisade Asset Management LLC bought a new position in shares of Enterprise Products Partners during the 1st quarter worth about $29,000. Finally, Mascoma Wealth Management LLC bought a new stake in shares of Enterprise Products Partners in the second quarter valued at about $29,000. 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.