Enterprise Products Partners (NYSE:EPD) Shares Down 0.5%

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price was down 0.5% during mid-day trading on Monday . The company traded as low as $28.34 and last traded at $28.41. Approximately 1,751,965 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 4,927,182 shares. The stock had previously closed at $28.55.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on EPD shares. Wells Fargo & Company lifted their target price on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Mizuho reaffirmed a “buy” rating and set a $34.00 price target on shares of Enterprise Products Partners in a report on Thursday, April 4th. Scotiabank lifted their price target on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 4th. Stifel Nicolaus lifted their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Finally, Truist Financial lifted their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $32.75.

Enterprise Products Partners Price Performance

The stock has a 50-day moving average price of $28.62 and a 200 day moving average price of $27.34. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.68. The firm has a market cap of $60.91 billion, a price-to-earnings ratio of 11.14 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The business had revenue of $14.76 billion for the quarter, compared to analysts’ expectations of $13.82 billion. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The business’s revenue was up 18.6% compared to the same quarter last year. As a group, 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be given a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 7.33%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 81.75%.

Hedge Funds Weigh In On Enterprise Products Partners

Several institutional investors have recently added to or reduced their stakes in EPD. Alps Advisors Inc. increased its position in Enterprise Products Partners by 20.2% in the 3rd quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock valued at $1,038,731,000 after acquiring an additional 6,369,350 shares during the period. Blackstone Inc. boosted its holdings in Enterprise Products Partners by 12.0% in the 3rd quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock valued at $633,174,000 after purchasing an additional 2,472,847 shares in the last quarter. American Century Companies Inc. boosted its holdings in Enterprise Products Partners by 14.2% in the 3rd quarter. American Century Companies Inc. now owns 17,331,648 shares of the oil and gas producer’s stock valued at $474,367,000 after purchasing an additional 2,155,640 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Enterprise Products Partners by 16.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,634,854 shares of the oil and gas producer’s stock valued at $263,706,000 after purchasing an additional 1,325,390 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in Enterprise Products Partners by 2,436.1% in the 4th quarter. International Assets Investment Management LLC now owns 1,171,302 shares of the oil and gas producer’s stock valued at $308,640,000 after purchasing an additional 1,125,117 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

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.