Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report)'s share price dropped 0.6% on Wednesday . The company traded as low as $28.63 and last traded at $28.74. Approximately 926,974 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 4,889,905 shares. The stock had previously closed at $28.91.
Analyst Ratings Changes
EPD has been the subject of a number of recent analyst reports. Barclays raised their price objective on Enterprise Products Partners from $30.00 to $31.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 26th. StockNews.com raised Enterprise Products Partners from a "buy" rating to a "strong-buy" rating in a research report on Saturday, March 9th. Wells Fargo & Company lifted 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. Mizuho reaffirmed a "buy" rating and set a $34.00 price target on shares of Enterprise Products Partners in a research report on Thursday, April 4th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $35.00 price target on shares of Enterprise Products Partners in a research report on Friday, April 5th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $32.58.
Check Out Our Latest Stock Report on EPD
Enterprise Products Partners Price Performance
The stock has a 50 day simple moving average of $28.51 and a two-hundred day simple moving average of $27.31. The firm has a market cap of $62.98 billion, a PE ratio of 11.53 and a beta of 1.02. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93.
Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings data 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. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The business had revenue of $14.62 billion during the quarter, compared to analyst estimates of $12.43 billion. During the same quarter last year, the business posted $0.65 EPS. The company's revenue was up 7.1% on a year-over-year basis. Sell-side analysts expect that Enterprise Products Partners L.P. will post 2.63 earnings per share for the current year.
Enterprise Products Partners Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be paid a $0.515 dividend. The ex-dividend date is Monday, April 29th. This represents a $2.06 annualized dividend and a dividend yield of 7.09%. Enterprise Products Partners's dividend payout ratio is presently 81.75%.
Hedge Funds Weigh In On Enterprise Products Partners
Several institutional investors and hedge funds have recently modified their holdings of the business. Private Trust Co. NA increased its stake in shares of Enterprise Products Partners by 72.9% in the 1st quarter. Private Trust Co. NA now owns 21,949 shares of the oil and gas producer's stock valued at $640,000 after purchasing an additional 9,258 shares in the last quarter. CENTRAL TRUST Co increased its stake in shares of Enterprise Products Partners by 6.6% in the 1st quarter. CENTRAL TRUST Co now owns 31,257 shares of the oil and gas producer's stock valued at $912,000 after purchasing an additional 1,948 shares in the last quarter. Oak Family Advisors LLC increased its stake in shares of Enterprise Products Partners by 1.9% in the 1st quarter. Oak Family Advisors LLC now owns 181,968 shares of the oil and gas producer's stock valued at $5,310,000 after purchasing an additional 3,433 shares in the last quarter. Simplicity Wealth LLC purchased a new position in shares of Enterprise Products Partners in the 1st quarter valued at about $608,000. Finally, Childress Capital Advisors LLC increased its stake in shares of Enterprise Products Partners by 3.1% in the 1st quarter. Childress Capital Advisors LLC now owns 173,978 shares of the oil and gas producer's stock valued at $5,077,000 after purchasing an additional 5,250 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company's stock.
About Enterprise Products Partners
(
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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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