Enterprise Products Partners (NYSE:EPD) Stock Price Up 1.3% - Here's Why

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report)'s stock price was up 1.3% during trading on Tuesday . The stock traded as high as $30.48 and last traded at $30.47. Approximately 1,313,444 shares changed hands during trading, a decline of 70% from the average daily volume of 4,374,004 shares. The stock had previously closed at $30.07.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Truist Financial raised their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. Wolfe Research downgraded Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 10th. StockNews.com raised shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a research report on Tuesday, April 15th. JPMorgan Chase & Co. boosted their price target on Enterprise Products Partners from $37.00 to $38.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $37.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $36.89.

Enterprise Products Partners Price Performance

The stock has a fifty day moving average of $32.36 and a 200 day moving average of $31.93. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The stock has a market cap of $67.87 billion, a price-to-earnings ratio of 11.65, a P/E/G ratio of 1.37 and a beta of 0.78.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the business posted $0.72 EPS. The company's revenue was down 2.9% on a year-over-year basis. On average, analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be paid a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 6.83%. The ex-dividend date is Wednesday, April 30th. Enterprise Products Partners's payout ratio is currently 79.55%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of hedge funds have recently bought and sold shares of EPD. Barclays PLC grew its position in shares of Enterprise Products Partners by 110.0% in the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer's stock valued at $73,699,000 after purchasing an additional 1,326,010 shares during the period. Eaton Financial Holdings Company LLC acquired a new stake in shares of Enterprise Products Partners in the 3rd quarter worth $1,066,000. Stock Yards Bank & Trust Co. boosted its holdings in Enterprise Products Partners by 6.1% in the 3rd quarter. Stock Yards Bank & Trust Co. now owns 60,844 shares of the oil and gas producer's stock valued at $1,771,000 after purchasing an additional 3,500 shares during the last quarter. World Investment Advisors LLC lifted its holdings in Enterprise Products Partners by 47.7% in the third quarter. World Investment Advisors LLC now owns 39,750 shares of the oil and gas producer's stock valued at $1,157,000 after acquiring an additional 12,839 shares during the last quarter. Finally, Arvest Bank Trust Division acquired a new stake in Enterprise Products Partners during the third quarter worth $445,000. 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.