Enterprise Products Partners (NYSE:EPD) Trading 1.4% Higher – Here’s Why

Enterprise Products Partners L.P. (NYSE:EPDGet Free Report) rose 1.4% on Tuesday . The stock traded as high as $39.25 and last traded at $38.6650. 4,652,731 shares changed hands during mid-day trading, an increase of 12% from the average session volume of 4,164,878 shares. The stock had previously closed at $38.12.

Analyst Upgrades and Downgrades

EPD has been the subject of a number of research analyst reports. TD Cowen restated a “hold” rating and issued a $38.00 price target (up from $34.00) on shares of Enterprise Products Partners in a research report on Thursday, April 16th. Scotiabank reiterated a “sector perform” rating and issued a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research report on Tuesday, May 12th. The Goldman Sachs Group reissued a “neutral” rating and issued a $38.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Jefferies Financial Group raised their target price on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the company a “hold” rating in a report on Tuesday, March 31st. Finally, Truist Financial increased their price target on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a research report on Monday, May 4th. Eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $39.93.

Read Our Latest Research Report on Enterprise Products Partners

Enterprise Products Partners Trading Up 1.4%

The business has a 50-day moving average of $37.65 and a 200 day moving average of $36.82. The stock has a market cap of $83.58 billion, a PE ratio of 14.32, a PEG ratio of 1.41 and a beta of 0.49. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91.

Enterprise Products Partners (NYSE:EPDGet Free Report) last released its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.03). The firm had revenue of $14.39 billion for the quarter, compared to analyst estimates of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.Enterprise Products Partners’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.64 earnings per share. Equities research analysts predict that Enterprise Products Partners L.P. will post 2.93 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a $0.56 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, July 31st. This represents a $2.24 annualized dividend and a yield of 5.8%. Enterprise Products Partners’s payout ratio is presently 82.96%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in EPD. Palisade Asset Management LLC acquired a new stake in Enterprise Products Partners in the 3rd quarter worth about $31,000. Bravera Wealth lifted its holdings in shares of Enterprise Products Partners by 666.7% during the 2nd quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock worth $38,000 after acquiring an additional 900 shares during the period. Daytona Street Capital LLC purchased a new position in shares of Enterprise Products Partners during the 4th quarter worth about $42,000. Groesbeck Investment Management Corp NJ acquired a new stake in shares of Enterprise Products Partners in the fourth quarter worth approximately $45,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of Enterprise Products Partners in the second quarter worth approximately $48,000. 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. (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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