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

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price traded up 1.3% during mid-day trading on Thursday . The stock traded as high as $38.19 and last traded at $38.0230. 2,963,877 shares changed hands during mid-day trading, a decline of 30% from the average session volume of 4,219,622 shares. The stock had previously closed at $37.52.

Analyst Ratings Changes

A number of equities research analysts have weighed in on EPD shares. JPMorgan Chase & Co. lifted their price objective on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Royal Bank Of Canada increased their target price on Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, March 30th. Scotiabank restated a “sector perform” rating and set a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research report on Tuesday, May 12th. Morgan Stanley reaffirmed an “underweight” rating and issued a $43.00 price target (up from $42.00) on shares of Enterprise Products Partners in a research note on Wednesday, May 20th. Finally, Wells Fargo & Company upgraded Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $40.00 to $42.00 in a research note on Wednesday, March 25th. Eight research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Enterprise Products Partners currently has an average rating of “Hold” and a consensus price target of $40.13.

Enterprise Products Partners Trading Up 0.5%

The company’s fifty day moving average price is $37.65 and its two-hundred day moving average price is $36.51. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. The company has a market cap of $82.54 billion, a price-to-earnings ratio of 14.14, a price-to-earnings-growth ratio of 1.34 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.03). Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The business had revenue of $14.39 billion during the quarter, compared to analyst estimates of $13.62 billion. During the same period in the previous year, the firm earned $0.64 earnings per share. The firm’s revenue was down 6.7% compared to the same quarter last year. Research analysts expect that Enterprise Products Partners L.P. will post 3.01 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.9%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, July 31st. Enterprise Products Partners’s dividend payout ratio is 81.48%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of hedge funds have recently added to or reduced their stakes in the stock. Walker Asset Management LLC increased its position in Enterprise Products Partners by 1.4% in the 2nd quarter. Walker Asset Management LLC now owns 20,256 shares of the oil and gas producer’s stock valued at $745,000 after acquiring an additional 282 shares in the last quarter. Doliver Advisors LP lifted its position in shares of Enterprise Products Partners by 14.4% during the second quarter. Doliver Advisors LP now owns 118,513 shares of the oil and gas producer’s stock worth $4,357,000 after purchasing an additional 14,900 shares in the last quarter. Redhawk Wealth Advisors Inc. acquired a new position in shares of Enterprise Products Partners during the second quarter worth approximately $1,170,000. Harrell Investment Partners LLC grew its stake in shares of Enterprise Products Partners by 14.9% during the second quarter. Harrell Investment Partners LLC now owns 62,052 shares of the oil and gas producer’s stock valued at $2,281,000 after purchasing an additional 8,048 shares during the last quarter. Finally, Shrier Wealth Management LLC grew its stake in shares of Enterprise Products Partners by 1.0% during the second quarter. Shrier Wealth Management LLC now owns 82,750 shares of the oil and gas producer’s stock valued at $3,042,000 after purchasing an additional 788 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

About Enterprise Products Partners

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.