Enterprise Products Partners L.P. (NYSE:EPD – Get Free Report) shares shot up 2.1% during mid-day trading on Tuesday . The stock traded as high as $37.17 and last traded at $37.17. 2,748,532 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 4,426,073 shares. The stock had previously closed at $36.42.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on EPD shares. TD Cowen reaffirmed a “hold” rating and set a $38.00 price target (up from $34.00) on shares of Enterprise Products Partners in a research report on Thursday, April 16th. Wells Fargo & Company upgraded Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $40.00 to $42.00 in a research note on Wednesday, March 25th. Truist Financial upped their price objective on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a report on Monday, May 4th. Citigroup reiterated a “buy” rating and set a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. Finally, Jefferies Financial Group lifted their target price on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the stock a “hold” rating in a research note on Tuesday, March 31st. Nine equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Hold” and a consensus price target of $39.94.
Check Out Our Latest Analysis on EPD
Enterprise Products Partners Stock Up 1.9%
Enterprise Products Partners (NYSE:EPD – Get Free Report) last released its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The company had revenue of $14.39 billion for the quarter, compared to the consensus estimate of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The business’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.64 earnings per share. On average, research analysts forecast that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current year.
Enterprise Products Partners Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were given a dividend of $0.55 per share. The ex-dividend date was Thursday, April 30th. This represents a $2.20 annualized dividend and a dividend yield of 6.0%. Enterprise Products Partners’s dividend payout ratio is currently 81.48%.
Hedge Funds Weigh In On Enterprise Products Partners
A number of large investors have recently modified their holdings of EPD. PMV Capital Advisers LLC purchased a new stake in Enterprise Products Partners in the 4th quarter worth approximately $25,000. Palisade Asset Management LLC purchased a new position in shares of Enterprise Products Partners during the 3rd quarter valued at $31,000. Texas Capital Bancshares Inc TX purchased a new position in shares of Enterprise Products Partners during the 3rd quarter valued at $32,000. Daytona Street Capital LLC bought a new position in shares of Enterprise Products Partners in the fourth quarter worth $42,000. Finally, Groesbeck Investment Management Corp NJ bought a new position in shares of Enterprise Products Partners in the fourth quarter worth $45,000. 26.07% of the stock is currently owned by institutional investors.
Enterprise Products Partners Company Profile
Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.
Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.
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