Enterprise Products Partners (NYSE:EPD) Trading 0.2% Higher – Here’s What Happened

Enterprise Products Partners L.P. (NYSE:EPD) shares rose 0.2% during mid-day trading on Tuesday . The stock traded as high as $32.58 and last traded at $32.51. Approximately 707,038 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 4,312,283 shares. The stock had previously closed at $32.46.

Analyst Upgrades and Downgrades

Several research firms have recently commented on EPD. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Bank of America assumed coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Enterprise Products Partners has an average rating of “Buy” and an average price target of $34.00.

Enterprise Products Partners Stock Up 0.7 %

The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The firm has a 50 day moving average price of $30.68 and a 200-day moving average price of $29.60. The firm has a market cap of $70.27 billion, a price-to-earnings ratio of 12.14, a P/E/G ratio of 1.69 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same quarter in the previous year, the firm posted $0.60 EPS. The business’s revenue was up 14.8% on a year-over-year basis. On average, equities analysts forecast that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 6.48%. The ex-dividend date of this dividend was Thursday, October 31st. Enterprise Products Partners’s payout ratio is 78.65%.

Institutional Trading of Enterprise Products Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. purchased a new stake in Enterprise Products Partners in the 2nd quarter worth approximately $25,000. Mascoma Wealth Management LLC acquired a new stake in shares of Enterprise Products Partners during the second quarter worth $29,000. DiNuzzo Private Wealth Inc. grew its position in shares of Enterprise Products Partners by 1,000.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 1,000 shares during the period. Assetmark Inc. increased its stake in Enterprise Products Partners by 19,800.0% in the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after purchasing an additional 1,188 shares during the last quarter. Finally, Sanctuary Wealth Management L.L.C. acquired a new position in Enterprise Products Partners in the third quarter valued at $36,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

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.