Enterprise Products Partners (NYSE:EPD) Hits New 1-Year High at $29.62

Enterprise Products Partners L.P. (NYSE:EPDGet Free Report)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $29.62 and last traded at $29.62, with a volume of 652528 shares. The stock had previously closed at $29.37.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on EPD shares. StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. Barclays boosted their target price on Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, March 26th. Mizuho boosted their target price on Enterprise Products Partners from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Truist Financial upped their price target on Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 price target on shares of Enterprise Products Partners in a report on Tuesday, February 13th. 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. Based on data from MarketBeat, Enterprise Products Partners currently has an average rating of “Buy” and an average target price of $32.55.

Read Our Latest Stock Analysis on Enterprise Products Partners

Enterprise Products Partners Stock Performance

The company has a market cap of $64.81 billion, a PE ratio of 11.86 and a beta of 1.02. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.68. The business has a 50-day moving average of $27.82 and a 200 day moving average of $27.12.

Enterprise Products Partners (NYSE:EPDGet Free Report) last posted its quarterly earnings data on Thursday, February 1st. The oil and gas producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. The company had revenue of $14.62 billion during the quarter, compared to analysts’ expectations of $12.43 billion. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. Enterprise Products Partners’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 earnings per share. Equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.64 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st were given a dividend of $0.515 per share. The ex-dividend date was Tuesday, January 30th. This represents a $2.06 annualized dividend and a dividend yield of 6.89%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.50. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.75%.

Institutional Trading of Enterprise Products Partners

Institutional investors have recently made changes to their positions in the business. Miller Howard Investments Inc. NY boosted its stake in Enterprise Products Partners by 7.1% during the third quarter. Miller Howard Investments Inc. NY now owns 3,189,590 shares of the oil and gas producer’s stock valued at $87,299,000 after buying an additional 210,603 shares during the last quarter. Kingsview Wealth Management LLC boosted its stake in Enterprise Products Partners by 8.7% during the third quarter. Kingsview Wealth Management LLC now owns 38,550 shares of the oil and gas producer’s stock valued at $1,055,000 after buying an additional 3,075 shares during the last quarter. Acadian Asset Management LLC bought a new position in Enterprise Products Partners during the third quarter valued at approximately $3,793,000. U.S. Capital Wealth Advisors LLC boosted its stake in Enterprise Products Partners by 16.5% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 1,794,073 shares of the oil and gas producer’s stock valued at $49,104,000 after buying an additional 254,175 shares during the last quarter. Finally, CFM Wealth Partners LLC bought a new position in Enterprise Products Partners during the fourth quarter valued at approximately $3,739,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

About Enterprise Products Partners

(Get Free Report)

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.

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