Enterprise Products Partners (NYSE:EPD) Stock Price Up 0.4%

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price traded up 0.4% during mid-day trading on Thursday . The stock traded as high as $28.61 and last traded at $28.49. 1,468,657 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 4,898,674 shares. The stock had previously closed at $28.39.

Analysts Set New Price Targets

A number of research firms have recently weighed in on EPD. Stifel Nicolaus lifted their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. 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. Mizuho reissued a “buy” rating and set a $34.00 target price on shares of Enterprise Products Partners in a research report on Thursday, April 4th. StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 9th. Finally, Wells Fargo & Company boosted their target price on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $32.58.

Enterprise Products Partners Stock Up 1.4 %

The company has a market cap of $62.55 billion, a P/E ratio of 11.45 and a beta of 1.02. The company has a 50-day simple moving average of $28.36 and a 200 day simple moving average of $27.26. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.95.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $14.62 billion during the quarter, compared to analysts’ expectations of $12.43 billion. During the same period in the prior year, the business earned $0.65 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, equities analysts anticipate 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. Investors 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 dividend yield of 7.14%. The ex-dividend date of this dividend is Monday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.75%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of hedge funds have recently made changes to their positions in EPD. Fairfield Bush & CO. purchased a new stake in shares of Enterprise Products Partners during the 2nd quarter worth $26,000. Pacific Center for Financial Services acquired a new position in Enterprise Products Partners during the 1st quarter valued at about $27,000. Burkett Financial Services LLC acquired a new position in Enterprise Products Partners during the 4th quarter valued at about $28,000. Stephens Consulting LLC acquired a new position in Enterprise Products Partners during the 1st quarter valued at about $29,000. Finally, Financial Freedom LLC acquired a new position in Enterprise Products Partners during the 4th quarter valued at about $38,000. 26.07% of the stock is currently owned by hedge funds and other 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.