Enterprise Products Partners (NYSE:EPD) Shares Climb 1.3% – Here’s What Happened

Enterprise Products Partners L.P. (NYSE:EPD) shares traded up 1.3% during mid-day trading on Friday. The stock traded as high as $36.20 and last traded at $36.1430. Approximately 2,404,486 shares were traded during trading, a decline of 38% from the average session volume of 3,889,790 shares. The stock had previously closed at $35.67.

Wall Street Analysts Forecast Growth

EPD has been the subject of a number of analyst reports. Capital One Financial began coverage on Enterprise Products Partners in a research note on Tuesday, September 22nd. They issued an “equal weight” rating and a $42.00 price target for the company. Wall Street Zen raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 6th. JPMorgan Chase & Co. boosted their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Weiss Ratings upgraded shares of Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a research note on Tuesday, August 11th. Finally, TD Cowen reissued a “hold” rating and issued a $38.00 price objective (down from $39.00) on shares of Enterprise Products Partners in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $40.12.

Enterprise Products Partners Stock Performance

The company’s fifty day simple moving average is $38.27 and its two-hundred day simple moving average is $37.95. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.93. The stock has a market capitalization of $78.05 billion, a P/E ratio of 12.55, a PEG ratio of 1.31 and a beta of 0.50.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. The company had revenue of $18.27 billion during the quarter, compared to analysts’ expectations of $13.69 billion. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The business’s revenue was up 60.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.66 earnings per share. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 3.02 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a dividend of $0.56 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date of this dividend was Friday, July 31st. Enterprise Products Partners’s payout ratio is 77.78%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of large investors have recently added to or reduced their stakes in EPD. Alps Advisors Inc. increased its holdings in Enterprise Products Partners by 0.6% in the 4th quarter. Alps Advisors Inc. now owns 42,639,131 shares of the oil and gas producer’s stock valued at $1,367,011,000 after buying an additional 260,305 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Enterprise Products Partners by 12.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock worth $582,317,000 after purchasing an additional 1,940,583 shares during the last quarter. Energy Income Partners LLC bought a new stake in shares of Enterprise Products Partners during the second quarter worth about $508,461,000. Bank of America Corp DE acquired a new position in shares of Enterprise Products Partners in the second quarter valued at approximately $416,553,000. Finally, BlackRock Inc. acquired a new position in shares of Enterprise Products Partners in the second quarter valued at approximately $255,325,000. Institutional investors and hedge funds 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.