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

Enterprise Products Partners L.P. (NYSE:EPD)’s share price fell 0.6% during mid-day trading on Wednesday . The stock traded as low as $28.24 and last traded at $28.33. 6,359,680 shares traded hands during trading, an increase of 44% from the average session volume of 4,421,131 shares. The stock had previously closed at $28.51.

Analyst Ratings Changes

Several equities analysts have recently weighed in on EPD shares. StockNews.com upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. Stifel Nicolaus boosted their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $35.00 target price on shares of Enterprise Products Partners in a research note on Friday, April 5th. Barclays boosted their target price on Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, March 26th. Finally, Mizuho restated a “buy” rating and issued a $34.00 target price on shares of Enterprise Products Partners in a research note on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Enterprise Products Partners has a consensus rating of “Buy” and an average price target of $32.58.

Enterprise Products Partners Trading Up 0.9 %

The business has a 50 day moving average of $28.31 and a two-hundred day moving average of $27.25. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.95. The firm has a market cap of $62.23 billion, a P/E ratio of 11.28 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 for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. The business had revenue of $14.62 billion for the quarter, compared to analysts’ expectations of $12.43 billion. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.65 EPS. Analysts predict that Enterprise Products Partners L.P. will post 2.63 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 7.18%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s payout ratio is 81.75%.

Institutional Trading of Enterprise Products Partners

Several large investors have recently modified their holdings of the stock. Moneta Group Investment Advisors LLC grew its holdings in shares of Enterprise Products Partners by 104,195.1% during the 4th 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 in the last quarter. Alps Advisors Inc. boosted its stake in Enterprise Products Partners by 20.2% in the third 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 buying an additional 6,369,350 shares in the last quarter. BlackRock Inc. boosted its stake in Enterprise Products Partners by 4.7% in the first quarter. BlackRock Inc. now owns 25,050,292 shares of the oil and gas producer’s stock valued at $646,548,000 after buying an additional 1,114,690 shares in the last quarter. Blackstone Inc. boosted its stake in Enterprise Products Partners by 12.0% in the third quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock valued at $633,174,000 after buying an additional 2,472,847 shares in the last quarter. Finally, Morgan Stanley boosted its stake in Enterprise Products Partners by 17.6% in the fourth quarter. Morgan Stanley now owns 20,745,030 shares of the oil and gas producer’s stock valued at $500,370,000 after buying an additional 3,102,695 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

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.