Enterprise Products Partners (NYSE:EPD) Trading Down 0.3%

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price dropped 0.3% during trading on Tuesday . The company traded as low as $28.86 and last traded at $28.92. Approximately 2,226,151 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 4,868,533 shares. The stock had previously closed at $29.00.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on EPD shares. Wells Fargo & Company boosted 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. Truist Financial lifted their price objective on Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Barclays increased 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. StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. Finally, Scotiabank increased their price objective on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 4th. Two 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. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $32.58.

Enterprise Products Partners Stock Performance

The firm has a market cap of $62.71 billion, a P/E ratio of 11.48 and a beta of 1.02. 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 stock’s 50 day moving average is $28.41 and its two-hundred day moving average is $27.28.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.04. The company had revenue of $14.62 billion for the quarter, compared to analyst estimates of $12.43 billion. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.65 EPS. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.63 EPS 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 issued a dividend of $0.515 per share. The ex-dividend date is Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.12%. Enterprise Products Partners’s payout ratio is presently 81.75%.

Hedge Funds Weigh In On Enterprise Products Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fifth Third Bancorp raised its position in Enterprise Products Partners by 8.9% in the 1st quarter. Fifth Third Bancorp now owns 27,157 shares of the oil and gas producer’s stock valued at $792,000 after purchasing an additional 2,225 shares during the last quarter. Tyche Wealth Partners LLC increased its stake in shares of Enterprise Products Partners by 7.8% in the first quarter. Tyche Wealth Partners LLC now owns 32,870 shares of the oil and gas producer’s stock valued at $959,000 after buying an additional 2,369 shares in the last quarter. Wesbanco Bank Inc. raised its holdings in shares of Enterprise Products Partners by 84.5% in the first quarter. Wesbanco Bank Inc. now owns 35,033 shares of the oil and gas producer’s stock valued at $1,022,000 after buying an additional 16,040 shares during the last quarter. Regatta Capital Group LLC acquired a new position in Enterprise Products Partners during the 1st quarter worth about $205,000. Finally, Stablepoint Partners LLC increased its position in Enterprise Products Partners by 36.6% in the 1st quarter. Stablepoint Partners LLC now owns 32,418 shares of the oil and gas producer’s stock valued at $946,000 after acquiring an additional 8,680 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

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.