Enterprise Products Partners (NYSE:EPD) Stock Price Up 0.2% - Here's Why

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report)'s share price rose 0.2% on Wednesday . The company traded as high as $32.00 and last traded at $31.84. Approximately 2,160,757 shares changed hands during trading, a decline of 59% from the average daily volume of 5,228,783 shares. The stock had previously closed at $31.76.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Royal Bank of Canada reissued an "outperform" rating and issued a $37.00 price target on shares of Enterprise Products Partners in a report on Wednesday, March 26th. JPMorgan Chase & Co. lifted their price objective on Enterprise Products Partners from $37.00 to $38.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. Scotiabank upped their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a "sector perform" rating in a research note on Thursday, March 6th. Citigroup dropped their price target on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating for the company in a research report on Tuesday. Finally, Argus upgraded shares of Enterprise Products Partners to a "strong-buy" rating in a research report on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Enterprise Products Partners presently has a consensus rating of "Moderate Buy" and an average price target of $36.67.

Enterprise Products Partners Stock Down 0.1%

The company has a market cap of $69.95 billion, a P/E ratio of 11.99, a P/E/G ratio of 1.37 and a beta of 0.67. The stock has a 50-day moving average of $31.65 and a two-hundred day moving average of $32.09. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.69 by ($0.05). Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business had revenue of $15.42 billion during the quarter, compared to analysts' expectations of $14.14 billion. During the same period last year, the company posted $0.66 EPS. Enterprise Products Partners's revenue for the quarter was up 4.5% on a year-over-year basis. On average, research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were given a dividend of $0.535 per share. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $2.14 annualized dividend and a yield of 6.64%. Enterprise Products Partners's payout ratio is 80.15%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Brooklyn Investment Group bought a new stake in Enterprise Products Partners in the first quarter valued at approximately $27,000. Wealth Preservation Advisors LLC purchased a new position in shares of Enterprise Products Partners in the first quarter worth $28,000. Rosenberg Matthew Hamilton raised its holdings in Enterprise Products Partners by 364.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer's stock valued at $26,000 after buying an additional 656 shares during the last quarter. Security National Bank bought a new stake in Enterprise Products Partners during the 1st quarter valued at $30,000. Finally, Alpine Bank Wealth Management purchased a new stake in Enterprise Products Partners during the 1st quarter valued at $31,000. Hedge funds and other institutional investors own 26.07% of the company's stock.

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.