Enterprise Products Partners (NYSE:EPD) Trading 1.5% Higher – Here’s What Happened

Shares of Enterprise Products Partners L.P. (NYSE:EPD) traded up 1.5% during mid-day trading on Monday . The stock traded as high as $31.30 and last traded at $31.29. 781,323 shares traded hands during trading, a decline of 82% from the average session volume of 4,386,018 shares. The stock had previously closed at $30.82.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $37.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Citigroup lowered their price target on shares of Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, May 13th. Morgan Stanley lifted their price target on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 11th. Scotiabank boosted their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, March 27th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.56.

Enterprise Products Partners Price Performance

The company has a market cap of $67.42 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 1.37 and a beta of 0.67. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The company’s fifty day moving average price is $31.23 and its two-hundred day moving average price is $32.26.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.05). The business had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.14 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 EPS. On average, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were given a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 6.88%. The ex-dividend date was Wednesday, April 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 80.15%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EPD. Brooklyn Investment Group acquired a new position in shares of Enterprise Products Partners during the 1st quarter worth about $27,000. Tidemark LLC raised its position in shares of Enterprise Products Partners by 54.3% in the fourth 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 during the period. Wealth Preservation Advisors LLC bought a new position in shares of Enterprise Products Partners in the first quarter valued at about $28,000. Lee Danner & Bass Inc. bought a new position in shares of Enterprise Products Partners in the fourth quarter valued at about $29,000. Finally, Crowley Wealth Management Inc. bought a new position in shares of Enterprise Products Partners in the fourth quarter valued at about $30,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

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.