Enterprise Products Partners (NYSE:EPD) Trading 0.4% Higher Following Analyst Upgrade

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price traded up 0.4% during trading on Thursday after Truist Financial raised their price target on the stock from $33.00 to $35.00. Truist Financial currently has a buy rating on the stock. Enterprise Products Partners traded as high as $27.90 and last traded at $27.85. 748,403 shares were traded during trading, a decline of 85% from the average session volume of 4,969,707 shares. The stock had previously closed at $27.74.

Other equities analysts have also recently issued research reports about the stock. Stifel Nicolaus boosted their price target 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. Mizuho reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Enterprise Products Partners in a research note on Thursday, April 4th. StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 9th. Scotiabank upped their price objective on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a research note on Friday, April 5th. Two research 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, the company currently has an average rating of “Buy” and an average target price of $32.75.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Accordant Advisory Group Inc bought a new position in Enterprise Products Partners in the 1st quarter worth $26,000. Burkett Financial Services LLC bought a new position in Enterprise Products Partners in the 4th quarter worth $28,000. Stephens Consulting LLC bought a new position in Enterprise Products Partners in the 1st quarter worth $29,000. Palisade Asset Management LLC bought a new position in Enterprise Products Partners in the 1st quarter worth $29,000. Finally, Rational Advisors LLC bought a new position in Enterprise Products Partners in the 3rd quarter worth $43,000. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Up 0.2 %

The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.95. The company’s fifty day simple moving average is $28.64 and its 200 day simple moving average is $27.35. The firm has a market capitalization of $60.93 billion, a P/E ratio of 11.02 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.02. The company had revenue of $14.76 billion during the quarter, compared to analyst estimates of $13.82 billion. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.75%. Enterprise Products Partners’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same period last year, the business earned $0.64 EPS. Research analysts expect that Enterprise Products Partners L.P. will post 2.67 EPS 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 7.33%. Enterprise Products Partners’s payout ratio is 80.78%.

About Enterprise Products Partners

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.