Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report)'s share price fell 0.1% during mid-day trading on Wednesday . The company traded as low as $29.03 and last traded at $29.22. 689,467 shares were traded during mid-day trading, a decline of 86% from the average session volume of 4,866,847 shares. The stock had previously closed at $29.26.
Wall Street Analyst Weigh In
A number of analysts have weighed in on the stock. Truist Financial raised their price objective 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. Barclays raised their price target on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company an "overweight" rating in a research report on Tuesday, March 26th. Mizuho reiterated a "buy" rating and set a $34.00 target price on shares of Enterprise Products Partners in a research note on Thursday, April 4th. Royal Bank of Canada reissued an "outperform" rating and issued a $35.00 target price on shares of Enterprise Products Partners in a report on Friday, April 5th. Finally, Stifel Nicolaus upped their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the company a "buy" rating in a report on Friday, February 2nd. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $32.58.
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Enterprise Products Partners Price Performance
The firm has a 50-day simple moving average of $27.99 and a 200-day simple moving average of $27.18. The firm has a market capitalization of $63.20 billion, a PE ratio of 11.57 and a beta of 1.02. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.68.
Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings data on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $14.62 billion for the quarter, compared to the consensus estimate of $12.43 billion. During the same quarter last year, the firm posted $0.65 earnings per share. The firm's revenue was up 7.1% compared to the same quarter last year. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 2.62 earnings per share for the current year.
Enterprise Products Partners Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be given a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 7.07%. The ex-dividend date of this dividend is Monday, April 29th. Enterprise Products Partners's payout ratio is 81.75%.
Institutional Investors Weigh In On Enterprise Products Partners
A number of institutional investors and hedge funds have recently added to or reduced their stakes in EPD. Moneta Group Investment Advisors LLC boosted its stake in shares of Enterprise Products Partners by 104,195.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 132,364,055 shares of the oil and gas producer's stock worth $3,192,621,000 after acquiring an additional 132,237,142 shares during the period. Alps Advisors Inc. boosted its stake in Enterprise Products Partners by 20.2% in the 3rd quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer's stock worth $1,038,731,000 after purchasing an additional 6,369,350 shares during the period. BlackRock Inc. grew its holdings in Enterprise Products Partners by 4.7% during the 1st quarter. BlackRock Inc. now owns 25,050,292 shares of the oil and gas producer's stock valued at $646,548,000 after buying an additional 1,114,690 shares in the last quarter. Blackstone Inc. raised its position in shares of Enterprise Products Partners by 12.0% during the third quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer's stock valued at $633,174,000 after buying an additional 2,472,847 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in shares of Enterprise Products Partners by 17.6% in the fourth quarter. Morgan Stanley now owns 20,745,030 shares of the oil and gas producer's stock worth $500,370,000 after buying an additional 3,102,695 shares in the last quarter. Institutional investors own 26.07% of the company's stock.
Enterprise Products Partners Company Profile
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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.
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