Enterprise Products Partners (NYSE:EPD) Shares Up 0.2% – Here’s Why

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price shot up 0.2% on Tuesday . The company traded as high as $34.05 and last traded at $33.98. 494,694 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 4,125,125 shares. The stock had previously closed at $33.92.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on EPD. Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a research report on Wednesday, December 18th. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Scotiabank lifted their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research report on Thursday, March 6th. Morgan Stanley lifted their price target on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, March 11th. Finally, Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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 stock has a market cap of $73.62 billion, a PE ratio of 12.64, a P/E/G ratio of 1.37 and a beta of 1.08. The company’s 50 day moving average is $33.34 and its 200-day moving average is $31.49.

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

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.535 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a dividend yield of 6.30%. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is 79.55%.

Institutional Trading of Enterprise Products Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in EPD. Trust Co. of Vermont grew its holdings in Enterprise Products Partners by 10.0% during the 4th quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer’s stock worth $104,000 after acquiring an additional 300 shares in the last quarter. Griffin Asset Management Inc. increased its holdings in shares of Enterprise Products Partners by 0.8% in the 4th quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer’s stock valued at $1,203,000 after acquiring an additional 305 shares during the last quarter. Evanson Asset Management LLC boosted its holdings in Enterprise Products Partners by 0.4% in the fourth quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer’s stock worth $2,304,000 after purchasing an additional 306 shares during the period. Smartleaf Asset Management LLC increased its stake in Enterprise Products Partners by 14.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer’s stock valued at $78,000 after purchasing an additional 308 shares during the last quarter. Finally, Sandbox Financial Partners LLC raised its holdings in shares of Enterprise Products Partners by 3.2% during the fourth quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer’s stock worth $317,000 after purchasing an additional 309 shares during the period. Institutional investors own 26.07% of the company’s stock.

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.