Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report)'s stock price rose 0.5% during trading on Wednesday . The stock traded as high as $30.23 and last traded at $30.11. Approximately 798,949 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 4,368,056 shares. The stock had previously closed at $29.95.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on EPD. Barclays raised their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company an "overweight" rating in a research note on Friday, March 14th. Argus raised Enterprise Products Partners to a "strong-buy" rating in a research note on Monday. Royal Bank of Canada reiterated an "outperform" rating and set a $37.00 target price on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Citigroup reiterated a "buy" rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Finally, Wolfe Research lowered Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 10th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $36.89.
Get Our Latest Report on EPD
Enterprise Products Partners Stock Performance
The business's 50-day moving average price is $31.94 and its 200-day moving average price is $32.00. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The stock has a market cap of $65.48 billion, a PE ratio of 11.26, a P/E/G ratio of 1.37 and a beta of 0.67.
Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.05). The firm had revenue of $15.42 billion for the quarter, compared to analysts' expectations of $14.14 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.66 EPS. As a group, equities research analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.
Enterprise Products Partners Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be given a dividend of $0.535 per share. The ex-dividend date is Wednesday, April 30th. This represents a $2.14 annualized dividend and a dividend yield of 7.08%. Enterprise Products Partners's dividend payout ratio (DPR) is presently 80.15%.
Institutional Investors Weigh In On Enterprise Products Partners
A number of hedge funds have recently modified their holdings of the business. Rosenberg Matthew Hamilton boosted its stake in Enterprise Products Partners by 364.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer's stock worth $26,000 after buying an additional 656 shares during the period. Tidemark LLC grew its holdings in Enterprise Products Partners by 54.3% during the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer's stock worth $28,000 after acquiring an additional 318 shares in the last quarter. Lee Danner & Bass Inc. purchased a new position in Enterprise Products Partners in the fourth quarter valued at $29,000. Crowley Wealth Management Inc. acquired a new stake in shares of Enterprise Products Partners during the 4th quarter worth about $30,000. Finally, Security National Bank purchased a new stake in shares of Enterprise Products Partners during the 1st quarter worth approximately $30,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.
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.
Further Reading
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