Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report)'s stock price was down 0.4% during trading on Friday . The company traded as low as $27.93 and last traded at $27.95. Approximately 1,008,647 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 4,965,023 shares. The stock had previously closed at $28.05.
Analysts Set New Price Targets
A number of brokerages have issued reports on EPD. StockNews.com raised Enterprise Products Partners from a "buy" rating to a "strong-buy" rating in a research report on Saturday, March 9th. Mizuho reissued a "buy" rating and set a $34.00 target price on shares of Enterprise Products Partners in a research note on Thursday, April 4th. Truist Financial increased their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the company a "buy" rating in a research report on Wednesday. Stifel Nicolaus upped their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a "buy" rating in a research note on Friday, February 2nd. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $35.00 price objective 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 issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Enterprise Products Partners presently has an average rating of "Buy" and an average price target of $32.75.
Read Our Latest Stock Report on EPD
Enterprise Products Partners Stock Performance
The stock has a 50 day moving average of $28.64 and a two-hundred day moving average of $27.35. The stock has a market capitalization of $60.93 billion, a PE ratio of 11.02 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 announced its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, beating the consensus estimate of $0.64 by $0.02. The firm had revenue of $14.76 billion during the quarter, compared to analysts' expectations of $13.82 billion. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.75%. The business's revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.64 earnings per share. Research analysts expect that Enterprise Products Partners L.P. will post 2.67 EPS for the current fiscal year.
Enterprise Products Partners Announces Dividend
The company also recently announced 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. This represents a $2.06 annualized dividend and a yield of 7.33%. The ex-dividend date of this dividend is Monday, April 29th. Enterprise Products Partners's dividend payout ratio (DPR) is 80.78%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the company. Cerity Partners LLC raised its position in Enterprise Products Partners by 89.9% during the fourth quarter. Cerity Partners LLC now owns 289,549 shares of the oil and gas producer's stock worth $7,630,000 after acquiring an additional 137,044 shares during the last quarter. Kingsview Wealth Management LLC lifted its position in shares of Enterprise Products Partners by 8.7% in the third quarter. Kingsview Wealth Management LLC now owns 38,550 shares of the oil and gas producer's stock valued at $1,055,000 after acquiring an additional 3,075 shares in the last quarter. Cullen Investment Group LTD. acquired a new position in Enterprise Products Partners in the 4th quarter valued at about $7,542,000. Sapient Capital LLC acquired a new position in Enterprise Products Partners during the fourth quarter worth approximately $3,271,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Enterprise Products Partners in the third quarter worth about $3,793,000. Institutional investors and hedge funds own 26.07% of the company's stock.
About Enterprise Products Partners
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Enterprise Products Partners, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Enterprise Products Partners wasn't on the list.
While Enterprise Products Partners currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Do you expect the global demand for energy to shrink?! If not, it's time to take a look at how energy stocks can play a part in your portfolio.
Get This Free Report
