Enterprise Products Partners (NYSE:EPD) Stock Price Up 0.1% Following Analyst Upgrade

Enterprise Products Partners L.P. (NYSE:EPD) rose 0.1% on Wednesday after Royal Bank of Canada raised their price target on the stock from $35.00 to $36.00. Royal Bank of Canada currently has an outperform rating on the stock. Enterprise Products Partners traded as high as $29.35 and last traded at $29.21. Approximately 417,655 shares were traded during trading, a decline of 90% from the average daily volume of 4,299,024 shares. The stock had previously closed at $29.17.

EPD has been the topic of a number of other reports. StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Truist Financial lifted their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Buy” and a consensus target price of $33.60.

Hedge Funds Weigh In On Enterprise Products Partners

A number of institutional investors have recently bought and sold shares of EPD. Blackstone Inc. increased its stake in Enterprise Products Partners by 6.3% in the 1st quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock worth $686,712,000 after purchasing an additional 1,391,370 shares in the last quarter. Reaves W H & Co. Inc. increased its stake in Enterprise Products Partners by 1,368.4% in the 1st quarter. Reaves W H & Co. Inc. now owns 1,468,440 shares of the oil and gas producer’s stock worth $42,849,000 after purchasing an additional 1,368,440 shares in the last quarter. Berkley W R Corp increased its stake in Enterprise Products Partners by 24.5% in the 1st quarter. Berkley W R Corp now owns 5,089,794 shares of the oil and gas producer’s stock worth $148,520,000 after purchasing an additional 1,000,000 shares in the last quarter. Distillate Capital Partners LLC increased its stake in Enterprise Products Partners by 160,136.7% in the 2nd quarter. Distillate Capital Partners LLC now owns 767,534 shares of the oil and gas producer’s stock worth $22,243,000 after purchasing an additional 767,055 shares in the last quarter. Finally, Tortoise Capital Advisors L.L.C. increased its stake in Enterprise Products Partners by 4.8% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock worth $470,091,000 after purchasing an additional 741,237 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

The stock has a 50 day moving average of $29.21 and a two-hundred day moving average of $28.97. The stock has a market cap of $63.37 billion, a PE ratio of 11.44, a PEG ratio of 1.49 and a beta of 1.03. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.02). The business had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The company’s revenue was up 26.6% compared to the same quarter last year. During the same period last year, the firm earned $0.57 EPS. Equities analysts anticipate that Enterprise Products Partners L.P. will post 2.71 EPS for the current year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 7.20%. Enterprise Products Partners’s dividend payout ratio is 82.35%.

Enterprise Products Partners Company Profile

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.