Enterprise Products Partners (NYSE:EPD) Stock Price Up 2.1% – Here’s Why

Enterprise Products Partners L.P. (NYSE:EPD)’s share price was up 2.1% on Monday . The company traded as high as $37.07 and last traded at $36.8870. Approximately 4,590,697 shares changed hands during trading, a decline of 7% from the average daily volume of 4,954,537 shares. The stock had previously closed at $36.14.

Wall Street Analyst Weigh In

EPD has been the subject of several recent research reports. Barclays reissued an “overweight” rating and issued a $38.00 price target (up from $35.00) on shares of Enterprise Products Partners in a research report on Wednesday, February 4th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $32.00 target price on shares of Enterprise Products Partners in a research note on Friday, December 19th. Wolfe Research lowered shares of Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 price target for the company. in a research report on Wednesday, January 14th. TD Cowen raised their price target on shares of Enterprise Products Partners from $33.00 to $34.00 and gave the company a “hold” rating in a report on Wednesday, February 4th. Finally, Morgan Stanley lowered shares of Enterprise Products Partners from an “equal weight” rating to an “underweight” rating and set a $34.00 price objective for the company. in a research note on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $36.00.

Enterprise Products Partners Price Performance

The firm has a market cap of $79.80 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 2.57 and a beta of 0.58. The company has a quick ratio of 0.60, a current ratio of 0.88 and a debt-to-equity ratio of 1.04. The stock has a 50 day moving average price of $33.77 and a two-hundred day moving average price of $32.38.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Monday, February 2nd. The oil and gas producer reported $0.75 EPS for the quarter, beating the consensus estimate of $0.69 by $0.06. The firm had revenue of $13.79 billion during the quarter, compared to analyst estimates of $12.44 billion. Enterprise Products Partners had a net margin of 11.05% and a return on equity of 19.43%. Enterprise Products Partners’s revenue was down 2.9% on a year-over-year basis. During the same period last year, the firm posted $0.74 EPS. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend was Friday, January 30th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s payout ratio is currently 82.71%.

Insider Buying and Selling

In other news, Director John R. Rutherford purchased 15,000 shares of the company’s stock in a transaction on Monday, December 29th. The shares were acquired at an average price of $32.09 per share, for a total transaction of $481,350.00. Following the purchase, the director owned 173,586 shares in the company, valued at $5,570,374.74. This trade represents a 9.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 32.60% of the company’s stock.

Institutional Investors Weigh In On Enterprise Products Partners

A number of institutional investors and hedge funds have recently modified their holdings of EPD. PMV Capital Advisers LLC purchased a new position in Enterprise Products Partners during the 4th quarter worth approximately $25,000. Winnow Wealth LLC acquired a new stake in shares of Enterprise Products Partners in the second quarter worth $28,000. Traub Capital Management LLC purchased a new position in shares of Enterprise Products Partners during the second quarter worth $31,000. Palisade Asset Management LLC acquired a new position in Enterprise Products Partners during the third quarter valued at $31,000. Finally, Abich Financial Wealth Management LLC purchased a new stake in Enterprise Products Partners in the third quarter valued at $32,000. Institutional investors and hedge funds 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.