Enterprise Products Partners L.P. (NYSE:EPD – Get Free Report) traded up 1.3% during trading on Friday. The company traded as high as $36.20 and last traded at $36.1430. Approximately 2,404,486 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 3,889,790 shares. The stock had previously closed at $35.67.
Analysts Set New Price Targets
EPD has been the topic of several analyst reports. Wall Street Zen raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Sunday, September 6th. Stifel Nicolaus initiated coverage on Enterprise Products Partners in a research note on Thursday, September 10th. They issued a “hold” rating and a $40.00 price objective on the stock. JPMorgan Chase & Co. increased their target price on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Weiss Ratings raised Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a research note on Tuesday, August 11th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $41.00 price target (up from $40.00) on shares of Enterprise Products Partners in a research report on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $40.12.
Check Out Our Latest Stock Analysis on Enterprise Products Partners
Enterprise Products Partners Stock Performance
Enterprise Products Partners (NYSE:EPD – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $13.69 billion. During the same period in the prior year, the business posted $0.66 earnings per share. Enterprise Products Partners’s revenue was up 60.8% compared to the same quarter last year. Research analysts predict that Enterprise Products Partners L.P. will post 3.02 earnings per share for the current fiscal year.
Enterprise Products Partners Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date of this dividend was Friday, July 31st. 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 currently 77.78%.
Institutional Investors Weigh In On Enterprise Products Partners
Several institutional investors have recently bought and sold shares of EPD. QRG Capital Management Inc. raised its holdings in shares of Enterprise Products Partners by 49.7% in the second quarter. QRG Capital Management Inc. now owns 10,004 shares of the oil and gas producer’s stock valued at $368,000 after purchasing an additional 3,321 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Enterprise Products Partners by 2.6% in the second quarter. Envestnet Asset Management Inc. now owns 662,552 shares of the oil and gas producer’s stock valued at $24,355,000 after purchasing an additional 16,760 shares in the last quarter. Security National Bank of Sioux City Iowa IA bought a new position in Enterprise Products Partners in the second quarter valued at $67,000. Anchor Investment Management LLC lifted its position in 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 buying an additional 5,004 shares in the last quarter. Finally, Core Capital Management & Research inc. acquired a new position in shares of Enterprise Products Partners during the 2nd quarter worth about $4,393,000. Institutional investors own 26.07% of the company’s stock.
Enterprise Products Partners Company Profile
Enterprise Products Partners L.P. is a publicly traded master limited partnership that owns and operates midstream energy infrastructure in the United States. The company transports, stores, processes and exports oil, natural gas, natural gas liquids (NGLs), refined products and petrochemicals.
Its operations include pipelines, natural gas processing plants, NGL fractionation facilities, underground storage, marine terminals and export infrastructure. Enterprise serves producers, refiners, petrochemical manufacturers, utilities and other energy customers by connecting major producing regions with domestic and international markets.
Enterprise Products Partners was founded in 1968 and is headquartered in Houston, Texas.
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