Enterprise Products Partners (NYSE:EPD) Stock Price Down 0.5%

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) traded down 0.5% during mid-day trading on Monday . The company traded as low as $29.53 and last traded at $29.59. 1,084,351 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 4,892,715 shares. The stock had previously closed at $29.73.

Analysts Set New Price Targets

EPD has been the topic of several analyst reports. Scotiabank raised 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. Royal Bank of Canada restated an "outperform" rating and issued a $35.00 price target on shares of Enterprise Products Partners in a research note on Friday. Truist Financial raised their price target on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the company a "buy" rating in a research note on Wednesday, February 21st. Wells Fargo & Company raised their price target on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, StockNews.com upgraded shares of Enterprise Products Partners from a "buy" rating to a "strong-buy" rating in a research note on Saturday, March 9th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $32.58.

Enterprise Products Partners Price Performance

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 company has a market cap of $63.90 billion, a P/E ratio of 11.74 and a beta of 1.02. The company has a fifty day simple moving average of $27.91 and a 200-day simple moving average of $27.15.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The business had revenue of $14.62 billion for the quarter, compared to analysts' expectations of $12.43 billion. During the same period in the previous year, the company posted $0.65 EPS. Enterprise Products Partners's revenue was up 7.1% on a year-over-year basis. On average, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.62 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 6.99%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners's dividend payout ratio is presently 81.75%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Fairfield Bush & CO. acquired a new position in shares of Enterprise Products Partners in the 1st quarter valued at approximately $31,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Enterprise Products Partners by 2.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,571,535 shares of the oil and gas producer's stock worth $169,611,000 after buying an additional 169,059 shares during the last quarter. BlackRock Inc. raised its holdings in Enterprise Products Partners by 4.7% during the first quarter. BlackRock Inc. now owns 25,050,292 shares of the oil and gas producer's stock worth $646,548,000 after buying an additional 1,114,690 shares during the last quarter. Cibc World Market Inc. raised its holdings in Enterprise Products Partners by 3.2% during the first quarter. Cibc World Market Inc. now owns 89,367 shares of the oil and gas producer's stock worth $2,307,000 after buying an additional 2,804 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in Enterprise Products Partners by 76.5% during the first quarter. Sei Investments Co. now owns 888,439 shares of the oil and gas producer's stock worth $22,931,000 after buying an additional 385,008 shares during the last quarter. 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.