Enterprise Products Partners (NYSE:EPD) Shares Up 1.5%

Enterprise Products Partners L.P. (NYSE:EPD)’s share price shot up 1.5% on Friday . The stock traded as high as $28.91 and last traded at $28.87. 759,857 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 4,870,410 shares. The stock had previously closed at $28.44.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on EPD. Truist Financial lifted their price target on Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Mizuho reiterated a “buy” rating and set a $34.00 price objective on shares of Enterprise Products Partners in a research note on Thursday, April 4th. Scotiabank boosted their price objective on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 4th. Barclays boosted their price objective on Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 26th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 price objective on shares of Enterprise Products Partners in a research note on Friday, April 5th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $32.58.

Enterprise Products Partners Stock Up 1.7 %

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 business has a 50 day simple moving average of $28.31 and a 200 day simple moving average of $27.25. The company has a market capitalization of $62.68 billion, a price-to-earnings ratio of 11.46 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last released its quarterly 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 analysts’ expectations of $12.43 billion. During the same period in the prior year, the firm earned $0.65 earnings per share. The firm’s revenue was up 7.1% compared to the same quarter last year. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.63 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently declared 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. This represents a $2.06 dividend on an annualized basis and a yield of 7.13%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.75%.

Institutional Trading of Enterprise Products Partners

Several hedge funds have recently modified their holdings of EPD. Fairfield Bush & CO. acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at $31,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Enterprise Products Partners by 2.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,571,535 shares of the oil and gas producer’s stock valued at $169,611,000 after acquiring an additional 169,059 shares in the last quarter. BlackRock Inc. raised its stake in shares of 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 acquiring an additional 1,114,690 shares in the last quarter. Cibc World Market Inc. raised its stake in shares of Enterprise Products Partners by 3.2% in the first quarter. Cibc World Market Inc. now owns 89,367 shares of the oil and gas producer’s stock valued at $2,307,000 after acquiring an additional 2,804 shares in the last quarter. Finally, Sei Investments Co. raised its stake in Enterprise Products Partners by 76.5% in the first quarter. Sei Investments Co. now owns 888,439 shares of the oil and gas producer’s stock valued at $22,931,000 after buying an additional 385,008 shares in the last quarter. 26.07% of the stock is currently 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.