Shares of Enterprise Products Partners L.P. (NYSE:EPD – Get Free Report) traded up 1.6% during trading on Monday. The company traded as high as $36.88 and last traded at $36.7750. Approximately 2,875,480 shares were traded during mid-day trading, a decline of 26% from the average session volume of 3,884,707 shares. The stock had previously closed at $36.18.
Analyst Ratings Changes
Several equities research analysts have issued reports on the stock. Morgan Stanley reissued an “underweight” rating and issued a $41.00 price target (up from $40.00) on shares of Enterprise Products Partners in a report on Tuesday, August 18th. Melius Research began coverage on Enterprise Products Partners in a research report on Tuesday, September 22nd. They issued a “hold” rating and a $42.00 price target on the stock. Capital One Financial began coverage on shares of Enterprise Products Partners in a research note on Tuesday, September 22nd. They issued an “equal weight” rating and a $42.00 target price on the stock. Wall Street Zen lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $42.00 price target on shares of Enterprise Products Partners in a research report on Tuesday, September 22nd. Seven analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $40.12.
Check Out Our Latest Research Report on Enterprise Products Partners
Enterprise Products Partners Stock Performance
Enterprise Products Partners (NYSE:EPD – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, topping 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 company had revenue of $18.27 billion for the quarter, compared to analysts’ expectations of $13.69 billion. During the same period last year, the firm posted $0.66 earnings per share. The business’s quarterly revenue was up 60.8% compared to the same quarter last year. Equities analysts expect 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 disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a $0.56 dividend. The ex-dividend date was Friday, July 31st. This represents a $2.24 annualized dividend and a dividend yield of 6.1%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s payout ratio is presently 77.78%.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the stock. Alps Advisors Inc. boosted its position in shares of Enterprise Products Partners by 0.6% during the fourth quarter. Alps Advisors Inc. now owns 42,639,131 shares of the oil and gas producer’s stock worth $1,367,011,000 after buying an additional 260,305 shares during the period. Auto Owners Insurance Co raised its holdings in shares of Enterprise Products Partners by 3,106.0% in the fourth quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock valued at $102,784,000 after purchasing an additional 31,060,000 shares during the last quarter. Energy Income Partners LLC bought a new stake in shares of Enterprise Products Partners in the second quarter worth $508,461,000. Bank of America Corp DE bought a new stake in shares of Enterprise Products Partners in the second quarter worth $416,553,000. Finally, BlackRock Inc. acquired a new position in Enterprise Products Partners during the second quarter worth $255,325,000. 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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