Enterprise Products Partners (NYSE:EPD) Shares Down 0.6%

Enterprise Products Partners L.P. (NYSE:EPD) fell 0.6% during mid-day trading on Monday . The company traded as low as $28.84 and last traded at $28.87. 1,410,368 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 4,865,665 shares. The stock had previously closed at $29.05.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on EPD. Mizuho reiterated a “buy” rating and issued a $34.00 price objective on shares of Enterprise Products Partners in a report on Thursday, April 4th. Truist Financial boosted their target price on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Wells Fargo & Company boosted their target price on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Barclays boosted their target price on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, March 26th. Finally, StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Buy” and an average price target of $32.58.

Enterprise Products Partners Stock Performance

The stock’s 50-day moving average price is $28.22 and its 200-day moving average price is $27.24. The company has a market cap of $61.49 billion, a P/E ratio of 11.25 and a beta of 1.02. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.68.

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. The company had revenue of $14.62 billion during the quarter, compared to analysts’ expectations of $12.43 billion. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. Enterprise Products Partners’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.65 earnings per share. Equities analysts anticipate that Enterprise Products Partners L.P. will post 2.62 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be given a $0.515 dividend. The ex-dividend date is Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.26%. Enterprise Products Partners’s payout ratio is presently 81.75%.

Institutional Investors Weigh In On Enterprise Products Partners

Several institutional investors and hedge funds have recently bought and sold shares of the company. Moneta Group Investment Advisors LLC lifted its position in Enterprise Products Partners by 104,195.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 132,364,055 shares of the oil and gas producer’s stock worth $3,192,621,000 after purchasing an additional 132,237,142 shares during the period. Alps Advisors Inc. raised its stake in Enterprise Products Partners by 20.2% during the third quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock worth $1,038,731,000 after acquiring an additional 6,369,350 shares in the last quarter. BlackRock Inc. raised its stake in Enterprise Products Partners by 4.7% during the first quarter. BlackRock Inc. now owns 25,050,292 shares of the oil and gas producer’s stock worth $646,548,000 after acquiring an additional 1,114,690 shares in the last quarter. Blackstone Inc. raised its stake in Enterprise Products Partners by 12.0% during the third quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock worth $633,174,000 after acquiring an additional 2,472,847 shares in the last quarter. Finally, Morgan Stanley raised its stake in Enterprise Products Partners by 17.6% during the fourth quarter. Morgan Stanley now owns 20,745,030 shares of the oil and gas producer’s stock worth $500,370,000 after acquiring an additional 3,102,695 shares in the last quarter. 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.