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

Enterprise Products Partners L.P. (NYSE:EPD) was up 1.5% during mid-day trading on Monday . The stock traded as high as $38.15 and last traded at $38.1320. Approximately 3,196,519 shares were traded during mid-day trading, a decline of 31% from the average daily volume of 4,642,530 shares. The stock had previously closed at $37.56.

Analyst Upgrades and Downgrades

EPD has been the subject of a number of analyst reports. TD Cowen upped their price target on Enterprise Products Partners from $33.00 to $34.00 and gave the stock a “hold” rating in a report on Wednesday, February 4th. Morgan Stanley upped their target price on shares of Enterprise Products Partners from $34.00 to $38.00 and gave the company an “underweight” rating in a research note on Wednesday, March 18th. Scotiabank raised their price target on shares of Enterprise Products Partners from $37.00 to $39.00 and gave the company a “sector perform” rating in a report on Tuesday, March 17th. Wall Street Zen upgraded shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a report on Saturday. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $32.00 target price on shares of Enterprise Products Partners in a research note on Friday, December 19th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $37.14.

Enterprise Products Partners Stock Up 1.5%

The stock has a market capitalization of $82.43 billion, a P/E ratio of 14.34, a P/E/G ratio of 1.50 and a beta of 0.58. The company has a current ratio of 1.04, a quick ratio of 0.74 and a debt-to-equity ratio of 1.07. The stock’s 50 day simple moving average is $35.33 and its 200 day simple moving average is $32.96.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Monday, February 2nd. The oil and gas producer reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.06. The company had revenue of $13.79 billion during the quarter, compared to the consensus estimate of $12.44 billion. Enterprise Products Partners had a net margin of 11.05% and a return on equity of 19.33%. The company’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.74 EPS. As a group, research analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were issued a $0.55 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.20 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend was Friday, January 30th. Enterprise Products Partners’s dividend payout ratio is presently 82.71%.

Insider Transactions at Enterprise Products Partners

In other news, Director John R. Rutherford bought 15,000 shares of Enterprise Products Partners stock in a transaction on Monday, December 29th. The shares were bought at an average price of $32.09 per share, with a total value of $481,350.00. Following the acquisition, the director directly owned 173,586 shares in the company, valued at approximately $5,570,374.74. This represents a 9.46% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 32.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Enterprise Products Partners

Several institutional investors and hedge funds have recently made changes to their positions in EPD. Arete Wealth Advisors LLC boosted its holdings in Enterprise Products Partners by 1.5% in the third quarter. Arete Wealth Advisors LLC now owns 21,145 shares of the oil and gas producer’s stock worth $661,000 after purchasing an additional 317 shares during the period. ORG Wealth Partners LLC raised its holdings in shares of Enterprise Products Partners by 0.5% during the fourth quarter. ORG Wealth Partners LLC now owns 66,266 shares of the oil and gas producer’s stock worth $2,125,000 after purchasing an additional 317 shares during the period. Walker Asset Management LLC lifted its position in shares of Enterprise Products Partners by 1.7% in the 4th quarter. Walker Asset Management LLC now owns 19,678 shares of the oil and gas producer’s stock worth $631,000 after buying an additional 326 shares during the last quarter. Mission Wealth Management LP lifted its position in shares of Enterprise Products Partners by 1.0% in the 4th quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer’s stock worth $1,037,000 after buying an additional 328 shares during the last quarter. Finally, Montag A & Associates Inc. boosted its holdings in shares of Enterprise Products Partners by 5.9% in the 4th quarter. Montag A & Associates Inc. now owns 5,880 shares of the oil and gas producer’s stock valued at $189,000 after buying an additional 330 shares during the period. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.