Enterprise Products Partners (NYSE:EPD) Stock Price Down 0.7%

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

Analyst Upgrades and Downgrades

EPD has been the subject of a number of recent analyst reports. Truist Financial upped their price target on Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Wells Fargo & Company increased their target price on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Scotiabank increased their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 4th. Stifel Nicolaus increased their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Finally, Barclays increased their target price on Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 26th. 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 stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $32.58.

Enterprise Products Partners Stock Up 0.4 %

The company has a 50-day moving average price of $28.58 and a 200 day moving average price of $27.33. The firm has a market capitalization of $63.01 billion, a PE ratio of 11.53 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.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The company had revenue of $14.62 billion for the quarter, compared to the consensus estimate of $12.43 billion. During the same period in the previous year, the business earned $0.65 earnings per share. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. Analysts forecast that Enterprise Products Partners L.P. will post 2.63 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 paid a dividend of $0.515 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.06 annualized dividend and a yield of 7.09%. Enterprise Products Partners’s payout ratio is currently 81.75%.

Institutional Investors Weigh In On Enterprise Products Partners

Large investors have recently added to or reduced their stakes in the stock. White Pine Investment CO grew its stake in shares of Enterprise Products Partners by 29.7% during the first quarter. White Pine Investment CO now owns 25,780 shares of the oil and gas producer’s stock valued at $752,000 after buying an additional 5,900 shares during the last quarter. Plan Group Financial LLC grew its stake in shares of Enterprise Products Partners by 47.8% during the first quarter. Plan Group Financial LLC now owns 16,229 shares of the oil and gas producer’s stock valued at $474,000 after buying an additional 5,249 shares during the last quarter. Carlton Hofferkamp & Jenks Wealth Management LLC grew its stake in shares of Enterprise Products Partners by 33.6% during the first quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 21,376 shares of the oil and gas producer’s stock valued at $618,000 after buying an additional 5,375 shares during the last quarter. LifeSteps Financial Inc. bought a new position in shares of Enterprise Products Partners during the first quarter valued at approximately $62,000. Finally, Deroy & Devereaux Private Investment Counsel Inc. grew its stake in shares of Enterprise Products Partners by 1.6% during the first quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 276,960 shares of the oil and gas producer’s stock valued at $8,082,000 after buying an additional 4,300 shares during the last quarter. 26.07% of the stock is owned by institutional investors.

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.