Enterprise Products Partners (NYSE:EPD) Trading Up 0.5% – Here’s Why

Shares of Enterprise Products Partners L.P. (NYSE:EPD) were up 0.5% during mid-day trading on Wednesday . The company traded as high as $34.03 and last traded at $33.96. Approximately 758,787 shares were traded during trading, a decline of 82% from the average daily volume of 4,120,893 shares. The stock had previously closed at $33.80.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Barclays boosted their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. Morgan Stanley increased their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 11th. Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Finally, Scotiabank increased their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a report on Thursday, March 6th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.90.

Enterprise Products Partners Price Performance

The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The business has a fifty day simple moving average of $33.38 and a 200 day simple moving average of $31.51. The stock has a market capitalization of $73.38 billion, a P/E ratio of 12.60, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The company had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the previous year, the firm earned $0.72 EPS. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. On average, analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.535 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.14 annualized dividend and a dividend yield of 6.32%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio is presently 79.55%.

Institutional Trading of Enterprise Products Partners

A number of hedge funds have recently made changes to their positions in EPD. Rosenberg Matthew Hamilton raised its position in Enterprise Products Partners by 364.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 656 shares in the last quarter. Tidemark LLC boosted its stake in shares of Enterprise Products Partners by 54.3% in the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 318 shares in the last quarter. Lee Danner & Bass Inc. bought a new stake in shares of Enterprise Products Partners in the 4th quarter valued at about $29,000. Crowley Wealth Management Inc. bought a new position in shares of Enterprise Products Partners in the fourth quarter worth approximately $30,000. Finally, National Bank of Canada FI increased its stake in shares of Enterprise Products Partners by 55.4% in the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock worth $32,000 after buying an additional 360 shares during the period. 26.07% of the stock is owned by institutional investors.

About Enterprise Products Partners

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.