Enterprise Products Partners (NYSE:EPD) Trading Up 0.4% on Analyst Upgrade

Enterprise Products Partners L.P. (NYSE:EPD) rose 0.4% on Thursday after Royal Bank of Canada raised their price target on the stock from $35.00 to $36.00. Royal Bank of Canada currently has an outperform rating on the stock. Enterprise Products Partners traded as high as $29.41 and last traded at $29.31. Approximately 449,104 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 4,291,917 shares. The stock had previously closed at $29.19.

A number of other equities research analysts also recently weighed in on EPD. Truist Financial raised their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $33.73.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC increased its stake in shares of Enterprise Products Partners by 9.9% in the first quarter. CWM LLC now owns 47,820 shares of the oil and gas producer’s stock worth $1,395,000 after buying an additional 4,307 shares during the period. Welch Group LLC increased its position in shares of Enterprise Products Partners by 25.8% in the first quarter. Welch Group LLC now owns 12,863 shares of the oil and gas producer’s stock valued at $375,000 after acquiring an additional 2,637 shares during the period. Grandview Asset Management LLC boosted its holdings in shares of Enterprise Products Partners by 3.7% during the first quarter. Grandview Asset Management LLC now owns 13,340 shares of the oil and gas producer’s stock worth $389,000 after purchasing an additional 478 shares during the period. American National Bank increased its holdings in Enterprise Products Partners by 1,005.2% during the 1st quarter. American National Bank now owns 20,469 shares of the oil and gas producer’s stock valued at $597,000 after purchasing an additional 18,617 shares during the period. Finally, Park Avenue Securities LLC purchased a new position in Enterprise Products Partners during the 1st quarter valued at about $951,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Price Performance

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91. The business has a 50-day simple moving average of $29.21 and a 200 day simple moving average of $28.97. The firm has a market cap of $63.65 billion, a P/E ratio of 11.49, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The business had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $14.23 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The business’s revenue was up 26.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.57 EPS. On average, analysts anticipate that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.16%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s payout ratio is 82.35%.

Enterprise Products Partners Company Profile

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.