Enterprise Products Partners (NYSE:EPD) Stock Price Down 0.4%

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) traded down 0.4% during mid-day trading on Tuesday . The stock traded as low as $29.34 and last traded at $29.36. 1,242,541 shares were traded during trading, a decline of 75% from the average session volume of 4,882,315 shares. The stock had previously closed at $29.47.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Royal Bank of Canada reiterated an "outperform" rating and issued a $35.00 target price on shares of Enterprise Products Partners in a research note on Friday. Scotiabank boosted their price target on Enterprise Products Partners from $31.00 to $32.00 and gave the company a "sector outperform" rating in a report on Thursday, April 4th. Barclays boosted their price target on Enterprise Products Partners from $30.00 to $31.00 and gave the company an "overweight" rating in a report on Tuesday, March 26th. Truist Financial upped their target price on Enterprise Products Partners from $31.00 to $33.00 and gave the stock a "buy" rating in a research note on Wednesday, February 21st. Finally, Wells Fargo & Company boosted their price target on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an "overweight" rating in a research report on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $32.58.

Enterprise Products Partners Trading Down 0.7 %

The business has a fifty day moving average of $27.99 and a 200-day moving average of $27.18. 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 $63.44 billion, a price-to-earnings ratio of 11.61 and a beta of 1.02.

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

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be issued a $0.515 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.06 annualized dividend and a dividend yield of 7.04%. Enterprise Products Partners's dividend payout ratio (DPR) is currently 81.75%.

Hedge Funds Weigh In On Enterprise Products Partners

Hedge funds and other institutional investors have recently modified their holdings of the business. Hazlett Burt & Watson Inc. lifted its stake in Enterprise Products Partners by 8.2% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 4,897 shares of the oil and gas producer's stock valued at $128,000 after purchasing an additional 371 shares during the last quarter. Ellsworth Advisors LLC boosted its position in shares of Enterprise Products Partners by 1.9% in the 3rd quarter. Ellsworth Advisors LLC now owns 20,780 shares of the oil and gas producer's stock worth $573,000 after purchasing an additional 380 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in Enterprise Products Partners by 3.3% in the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 11,969 shares of the oil and gas producer's stock worth $328,000 after acquiring an additional 386 shares during the last quarter. Register Financial Advisors LLC raised its stake in Enterprise Products Partners by 2.3% during the 4th quarter. Register Financial Advisors LLC now owns 17,320 shares of the oil and gas producer's stock valued at $456,000 after buying an additional 397 shares during the last quarter. Finally, Your Advocates Ltd. LLP increased its stake in shares of Enterprise Products Partners by 1.9% in the 3rd quarter. Your Advocates Ltd. LLP now owns 22,481 shares of the oil and gas producer's stock worth $615,000 after purchasing an additional 412 shares in 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.