Enterprise Products Partners (NYSE:EPD) Shares Up 0.1%

Enterprise Products Partners L.P. (NYSE:EPD) shares traded up 0.1% on Wednesday . The company traded as high as $28.38 and last traded at $28.38. 804,999 shares traded hands during trading, a decline of 84% from the average session volume of 4,932,845 shares. The stock had previously closed at $28.35.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on EPD shares. Stifel Nicolaus raised their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Scotiabank increased 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 report on Thursday, April 4th. Truist Financial raised their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Wells Fargo & Company increased their price objective on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $35.00 target price on shares of Enterprise Products Partners in a research report on Friday, April 5th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Enterprise Products Partners currently has an average rating of “Buy” and a consensus price target of $32.75.

Enterprise Products Partners Price Performance

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 stock has a 50-day moving average price of $28.68 and a 200 day moving average price of $27.36. The stock has a market capitalization of $61.56 billion, a price-to-earnings ratio of 11.13 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, beating the consensus estimate of $0.64 by $0.02. The company had revenue of $14.76 billion for the quarter, compared to analyst estimates of $13.82 billion. Enterprise Products Partners had a return on equity of 19.75% and a net margin of 10.76%. Enterprise Products Partners’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same period last year, the company earned $0.64 earnings per share. As a group, equities research analysts expect that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The business 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 dividend on an annualized basis and a yield of 7.26%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s dividend payout ratio is presently 80.78%.

Hedge Funds Weigh In On Enterprise Products Partners

Hedge funds have recently made changes to their positions in the company. Cerity Partners LLC lifted its holdings in Enterprise Products Partners by 89.9% in the 4th quarter. Cerity Partners LLC now owns 289,549 shares of the oil and gas producer’s stock valued at $7,630,000 after purchasing an additional 137,044 shares in the last quarter. Kingsview Wealth Management LLC raised its holdings in Enterprise Products Partners by 8.7% in the 3rd quarter. Kingsview Wealth Management LLC now owns 38,550 shares of the oil and gas producer’s stock valued at $1,055,000 after acquiring an additional 3,075 shares during the last quarter. Cullen Investment Group LTD. purchased a new position in Enterprise Products Partners in the 4th quarter worth approximately $7,542,000. Sapient Capital LLC acquired a new position in shares of Enterprise Products Partners during the 4th quarter worth approximately $3,271,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Enterprise Products Partners in the third quarter valued at approximately $3,793,000. Institutional investors and hedge funds 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.