Enterprise Products Partners (NYSE:EPD) Shares Down 0.7%

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

Analyst Ratings Changes

EPD has been the subject of several research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $35.00 target price on shares of Enterprise Products Partners in a report on Friday, April 5th. Truist Financial upped their price target on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Mizuho reiterated a “buy” rating and issued a $34.00 price target on shares of Enterprise Products Partners in a research report on Thursday, April 4th. StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 9th. Finally, Barclays upped their price target on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday, March 26th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Enterprise Products Partners presently has an average rating of “Buy” and a consensus price target of $32.58.

Enterprise Products Partners Price Performance

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 $62.71 billion, a price-to-earnings ratio of 11.48 and a beta of 1.02. The business’s 50-day moving average price is $28.51 and its two-hundred day moving average price is $27.31.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. The business had revenue of $14.62 billion during the quarter, compared to the consensus estimate of $12.43 billion. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 earnings per share. On average, research analysts forecast that Enterprise Products Partners L.P. will post 2.63 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 7.12%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s dividend payout ratio is presently 81.75%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of hedge funds have recently added to or reduced their stakes in the stock. Hazlett Burt & Watson Inc. raised its stake in shares of Enterprise Products Partners by 8.2% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 4,897 shares of the oil and gas producer’s stock valued at $128,000 after purchasing an additional 371 shares in the last quarter. Ellsworth Advisors LLC raised its stake in shares of Enterprise Products Partners by 1.9% during the third quarter. Ellsworth Advisors LLC now owns 20,780 shares of the oil and gas producer’s stock valued at $573,000 after purchasing an additional 380 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of Enterprise Products Partners by 3.3% during the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 11,969 shares of the oil and gas producer’s stock valued at $328,000 after purchasing an additional 386 shares in the last quarter. Register Financial Advisors LLC raised its stake in shares of Enterprise Products Partners by 2.3% during the fourth quarter. Register Financial Advisors LLC now owns 17,320 shares of the oil and gas producer’s stock valued at $456,000 after purchasing an additional 397 shares in the last quarter. Finally, Your Advocates Ltd. LLP raised its stake in shares of Enterprise Products Partners by 1.9% during the third quarter. Your Advocates Ltd. LLP now owns 22,481 shares of the oil and gas producer’s stock valued at $615,000 after purchasing an additional 412 shares in the last quarter. 26.07% of the stock is currently owned by 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.