Enterprise Products Partners (NYSE:EPD) Shares Up 0.4% After Analyst Upgrade

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report)'s share price rose 0.4% during trading on Thursday after Truist Financial raised their price target on the stock from $33.00 to $35.00. Truist Financial currently has a buy rating on the stock. Enterprise Products Partners traded as high as $27.90 and last traded at $27.85. Approximately 748,403 shares were traded during trading, a decline of 85% from the average daily volume of 4,969,707 shares. The stock had previously closed at $27.74.

Other research analysts have also issued reports about the stock. Stifel Nicolaus upped their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a "buy" rating in a report on Friday, February 2nd. Barclays boosted their target price on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company an "overweight" rating in a research note on Tuesday, March 26th. Scotiabank upped their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a "sector outperform" rating in a research note on Thursday, April 4th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $35.00 price target on shares of Enterprise Products Partners in a report on Friday, April 5th. Finally, Wells Fargo & Company upped their target price on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the stock an "overweight" rating in a research note on Thursday, April 4th. Two investment 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 stock. Based on data from MarketBeat.com, Enterprise Products Partners has an average rating of "Buy" and a consensus price target of $32.75.

Institutional Investors Weigh In On Enterprise Products Partners

A number of institutional investors have recently bought and sold shares of EPD. Alps Advisors Inc. boosted its position in shares of Enterprise Products Partners by 20.2% during the third quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer's stock worth $1,038,731,000 after buying an additional 6,369,350 shares during the period. Blackstone Inc. lifted its position in Enterprise Products Partners by 12.0% during the 3rd quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer's stock worth $633,174,000 after buying an additional 2,472,847 shares in the last quarter. American Century Companies Inc. increased its holdings in Enterprise Products Partners by 14.2% in the third quarter. American Century Companies Inc. now owns 17,331,648 shares of the oil and gas producer's stock valued at $474,367,000 after purchasing an additional 2,155,640 shares during the last quarter. Invesco Ltd. increased its position in shares of Enterprise Products Partners by 10.5% during the third quarter. Invesco Ltd. now owns 10,164,886 shares of the oil and gas producer's stock worth $278,213,000 after acquiring an additional 969,199 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Enterprise Products Partners by 16.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,634,854 shares of the oil and gas producer's stock worth $263,706,000 after acquiring an additional 1,325,390 shares in the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Price Performance

The company's 50-day simple moving average is $28.63 and its 200-day simple moving average is $27.35. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.68. The stock has a market capitalization of $60.82 billion, a price-to-earnings ratio of 10.92 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.02. Enterprise Products Partners had a return on equity of 19.75% and a net margin of 10.76%. The business had revenue of $14.76 billion for the quarter, compared to analyst estimates of $13.82 billion. During the same quarter in the prior year, the company earned $0.64 earnings per share. The company's quarterly revenue was up 18.6% on a year-over-year basis. Research analysts forecast that Enterprise Products Partners L.P. will post 2.67 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be paid a dividend of $0.515 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a yield of 7.34%. Enterprise Products Partners's dividend payout ratio is currently 80.78%.

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.