Enterprise Products Partners (NYSE:EPD) Stock Price Down 0.7%

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price fell 0.7% during trading on Thursday . The stock traded as low as $28.72 and last traded at $28.85. 1,527,726 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 4,897,861 shares. The stock had previously closed at $29.05.

Wall Street Analysts Forecast Growth

Several research firms have commented on EPD. Scotiabank boosted their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research note 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 research note on Wednesday, February 21st. StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 target price on shares of Enterprise Products Partners in a research note on Friday, April 5th. Finally, Stifel Nicolaus boosted their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. 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 stock. According to data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Buy” and an average target price of $32.58.

Enterprise Products Partners Stock Up 0.4 %

The business’s fifty day moving average price is $28.58 and its 200 day moving average price is $27.33. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $63.01 billion, a PE ratio of 11.53 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.04. The firm 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%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.65 earnings per share. On average, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.63 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be issued a dividend of $0.515 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.06 annualized dividend and a yield of 7.09%. Enterprise Products Partners’s dividend payout ratio is currently 81.75%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. White Pine Investment CO grew its position in Enterprise Products Partners by 29.7% during the first quarter. White Pine Investment CO now owns 25,780 shares of the oil and gas producer’s stock worth $752,000 after buying an additional 5,900 shares during the period. Plan Group Financial LLC grew its position in Enterprise Products Partners by 47.8% during the first quarter. Plan Group Financial LLC now owns 16,229 shares of the oil and gas producer’s stock worth $474,000 after buying an additional 5,249 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC grew its position in Enterprise Products Partners by 33.6% during the first quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 21,376 shares of the oil and gas producer’s stock worth $618,000 after buying an additional 5,375 shares during the period. LifeSteps Financial Inc. acquired a new position in Enterprise Products Partners during the first quarter worth about $62,000. Finally, Deroy & Devereaux Private Investment Counsel Inc. grew its position in Enterprise Products Partners by 1.6% during the first quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 276,960 shares of the oil and gas producer’s stock worth $8,082,000 after buying an additional 4,300 shares during the period. 26.07% of the stock is owned by hedge funds and other institutional investors.

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.