Enterprise Products Partners (NYSE:EPD – Free Report) had its price objective raised by Wells Fargo & Company from $31.00 to $32.00 in a research note released on Tuesday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the oil and gas producer’s stock.
Other analysts have also issued research reports about the company. Raymond James decreased their price target on Enterprise Products Partners from $32.00 to $31.00 and set a strong-buy rating on the stock in a report on Wednesday, November 1st. Truist Financial reduced their price objective on Enterprise Products Partners from $33.00 to $31.00 and set a buy rating for the company in a research note on Wednesday, November 1st. Stifel Nicolaus lifted their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a buy rating in a report on Friday, February 2nd. Finally, StockNews.com raised shares of Enterprise Products Partners from a buy rating to a strong-buy rating in a research note on Friday, February 2nd. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus price target of $31.92.
Enterprise Products Partners Trading Down 0.3 %
Enterprise Products Partners (NYSE:EPD – Get Free Report) last posted its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.04. Enterprise Products Partners had a return on equity of 19.77% and a net margin of 11.12%. The firm had revenue of $14.62 billion during the quarter, compared to analysts’ expectations of $12.43 billion. During the same quarter in the previous year, the business earned $0.65 earnings per share. The company’s revenue was up 7.1% on a year-over-year basis. Sell-side analysts anticipate that Enterprise Products Partners will post 2.63 EPS for the current year.
Enterprise Products Partners Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st will be paid a dividend of $0.515 per share. The ex-dividend date of this dividend is Tuesday, January 30th. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.50. This represents a $2.06 annualized dividend and a dividend yield of 7.85%. Enterprise Products Partners’s payout ratio is currently 81.75%.
Insider Activity at Enterprise Products Partners
In other news, Director John R. Rutherford purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was acquired at an average cost of $25.96 per share, for a total transaction of $259,600.00. Following the completion of the purchase, the director now owns 137,423 shares of the company’s stock, valued at $3,567,501.08. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 32.60% of the company’s stock.
Institutional Trading of Enterprise Products Partners
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hazlett Burt & Watson Inc. boosted its holdings in Enterprise Products Partners by 8.2% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 4,897 shares of the oil and gas producer’s stock valued at $128,000 after acquiring an additional 371 shares during the last quarter. Ellsworth Advisors LLC lifted its stake in Enterprise Products Partners by 1.9% in the third quarter. Ellsworth Advisors LLC now owns 20,780 shares of the oil and gas producer’s stock valued at $573,000 after buying an additional 380 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in Enterprise Products Partners by 3.3% in the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 11,969 shares of the oil and gas producer’s stock valued at $328,000 after buying an additional 386 shares during the period. Register Financial Advisors LLC lifted its stake in Enterprise Products Partners by 2.3% in the fourth quarter. Register Financial Advisors LLC now owns 17,320 shares of the oil and gas producer’s stock valued at $456,000 after buying an additional 397 shares during the period. Finally, Your Advocates Ltd. LLP lifted its stake in Enterprise Products Partners by 1.9% in the second quarter. Your Advocates Ltd. LLP now owns 22,069 shares of the oil and gas producer’s stock valued at $582,000 after buying an additional 409 shares during the period. 26.54% of the stock is owned by institutional investors and hedge funds.
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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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