Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) traded down 1.3% during mid-day trading on Tuesday . The company traded as low as $31.19 and last traded at $31.46. 1,552,010 shares changed hands during trading, a decline of 65% from the average session volume of 4,483,499 shares. The stock had previously closed at $31.87.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the company. Wall Street Zen raised Enterprise Products Partners from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Royal Bank Of Canada restated an "outperform" rating and issued a $37.00 target price on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Mizuho set a $38.00 target price on Enterprise Products Partners and gave the company an "outperform" rating in a report on Friday, July 11th. Scotiabank increased their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a "sector perform" rating in a report on Thursday, June 5th. Finally, Argus raised shares of Enterprise Products Partners to a "strong-buy" rating in a research report on Monday, May 5th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.36.
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Enterprise Products Partners Trading Up 0.9%
The stock has a market cap of $68.35 billion, a P/E ratio of 11.80, a PEG ratio of 1.35 and a beta of 0.64. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.86 and a quick ratio of 0.64. The business's 50 day simple moving average is $31.49 and its 200 day simple moving average is $32.10.
Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts' consensus estimates of $0.69 by ($0.05). Enterprise Products Partners had a return on equity of 19.90% and a net margin of 10.26%. The business had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.14 billion. During the same quarter in the prior year, the business earned $0.66 EPS. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. On average, analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.
Enterprise Products Partners Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be paid a $0.545 dividend. The ex-dividend date is Thursday, July 31st. This represents a $2.18 dividend on an annualized basis and a dividend yield of 6.92%. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.54. Enterprise Products Partners's payout ratio is 80.15%.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of EPD. ING Groep NV acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at approximately $71,052,000. Alps Advisors Inc. increased its holdings in shares of Enterprise Products Partners by 5.0% in the first quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer's stock valued at $1,410,891,000 after purchasing an additional 1,967,188 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Enterprise Products Partners by 65.3% in the first quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer's stock valued at $148,415,000 after purchasing an additional 1,717,768 shares in the last quarter. Northside Capital Management LLC acquired a new stake in shares of Enterprise Products Partners in the second quarter valued at approximately $47,628,000. Finally, Truist Financial Corp increased its holdings in shares of Enterprise Products Partners by 293.6% in the first quarter. Truist Financial Corp now owns 2,018,964 shares of the oil and gas producer's stock valued at $68,927,000 after purchasing an additional 1,506,055 shares in the last quarter. Institutional investors own 26.07% of the company's stock.
About Enterprise Products Partners
(
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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.
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