Enterprise Products Partners (NYSE:EPD) Trading 2.1% Higher – Here’s Why

Enterprise Products Partners L.P. (NYSE:EPD) shares traded up 2.1% on Wednesday . The company traded as high as $39.16 and last traded at $39.09. Approximately 2,585,902 shares changed hands during trading, a decline of 36% from the average session volume of 4,051,037 shares. The stock had previously closed at $38.27.

Analysts Set New Price Targets

EPD has been the subject of a number of recent research reports. The Goldman Sachs Group restated a “neutral” rating and issued a $38.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. JPMorgan Chase & Co. lifted their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Citigroup reissued a “buy” rating and issued a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Wall Street Zen raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 16th. Finally, TD Cowen restated a “hold” rating and set a $38.00 price target (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $40.00.

Enterprise Products Partners Stock Down 0.3%

The stock has a market capitalization of $84.26 billion, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. The firm has a 50 day simple moving average of $37.84 and a 200-day simple moving average of $37.65. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.93 and a quick ratio of 0.66.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, beating the consensus estimate of $0.75 by $0.09. The company had revenue of $18.27 billion for the quarter, compared to the consensus estimate of $13.69 billion. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The firm’s revenue for the quarter was up 60.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.66 EPS. On average, sell-side analysts forecast that Enterprise Products Partners L.P. will post 3.03 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a dividend of $0.56 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend was Friday, July 31st. Enterprise Products Partners’s payout ratio is currently 77.78%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Auto Owners Insurance Co raised its position in Enterprise Products Partners by 3,106.0% in the 4th quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock valued at $102,784,000 after purchasing an additional 31,060,000 shares during the last quarter. Energy Income Partners LLC bought a new stake in shares of Enterprise Products Partners during the second quarter worth $508,461,000. Bank of America Corp DE acquired a new stake in shares of Enterprise Products Partners in the second quarter valued at $416,553,000. BlackRock Inc. acquired a new stake in shares of Enterprise Products Partners in the second quarter valued at $255,325,000. Finally, Berkley W R Corp bought a new position in shares of Enterprise Products Partners in the second quarter valued at about $250,887,000. Institutional investors own 26.07% of the company’s stock.

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.