Enterprise Products Partners L.P. (NYSE:EPD – Get Free Report)’s stock price was up 1.3% during mid-day trading on Friday . The stock traded as high as $39.10 and last traded at $38.96. 4,889,597 shares changed hands during trading, an increase of 25% from the average daily volume of 3,904,107 shares. The stock had previously closed at $38.45.
Analyst Ratings Changes
Several equities research analysts recently weighed in on the company. Morgan Stanley reissued an “underweight” rating and set a $41.00 price objective (up from $40.00) on shares of Enterprise Products Partners in a report on Tuesday, August 18th. UBS Group reiterated a “buy” rating and issued a $45.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. TD Cowen restated a “hold” rating and set a $38.00 price target (down from $39.00) on shares of Enterprise Products Partners in a report on Monday, August 3rd. JPMorgan Chase & Co. upped their price objective on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Finally, Weiss Ratings upgraded shares of Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Enterprise Products Partners has a consensus rating of “Hold” and an average price target of $39.87.
Check Out Our Latest Research Report on EPD
Enterprise Products Partners Stock Performance
Enterprise Products Partners (NYSE:EPD – Get Free Report) last released its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The business had revenue of $18.27 billion during the quarter, compared to the consensus estimate of $13.69 billion. During the same quarter in the prior year, the firm posted $0.66 EPS. The company’s revenue for the quarter was up 60.8% compared to the same quarter last year. As a group, analysts predict that Enterprise Products Partners L.P. will post 3.03 EPS for the current year.
Enterprise Products Partners Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were paid a $0.56 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.7%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 77.78%.
Institutional Investors Weigh In On Enterprise Products Partners
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Anchor Investment Management LLC boosted its position in shares of Enterprise Products Partners by 13.5% during the 2nd quarter. Anchor Investment Management LLC now owns 42,150 shares of the oil and gas producer’s stock worth $1,549,000 after purchasing an additional 5,004 shares in the last quarter. Core Capital Management & Research inc. acquired a new position in Enterprise Products Partners during the 2nd quarter worth approximately $4,393,000. Sequoia Financial Advisors LLC boosted its holdings in Enterprise Products Partners by 1.9% in the second quarter. Sequoia Financial Advisors LLC now owns 66,928 shares of the oil and gas producer’s stock worth $2,460,000 after acquiring an additional 1,228 shares in the last quarter. Tidal Investments LLC boosted its holdings in Enterprise Products Partners by 95.7% in the second quarter. Tidal Investments LLC now owns 118,324 shares of the oil and gas producer’s stock worth $4,350,000 after acquiring an additional 57,860 shares in the last quarter. Finally, MCF Advisors LLC grew its stake in Enterprise Products Partners by 2.9% in the second quarter. MCF Advisors LLC now owns 31,648 shares of the oil and gas producer’s stock valued at $1,163,000 after acquiring an additional 898 shares during the period. 26.07% of the stock is owned by institutional investors.
About Enterprise Products Partners
Enterprise Products Partners L.P. (NYSE: EPD) is a publicly traded midstream energy partnership that provides transportation, storage, processing and export services for crude oil, natural gas, natural gas liquids (NGLs), petrochemicals and refined products. The company operates an integrated network of pipelines, processing plants, fractionation facilities, storage assets and marine terminals.
Enterprise’s NGL operations include natural gas processing, NGL fractionation and the production and distribution of ethane, propane, butanes and natural gasoline.
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