Enterprise Products Partners (NYSE:EPD) Shares Up 1.3% Following Analyst Upgrade

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price rose 1.3% on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $35.00 to $39.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Enterprise Products Partners traded as high as $37.33 and last traded at $37.1950. Approximately 3,008,326 shares were traded during trading, a decline of 38% from the average daily volume of 4,863,428 shares. The stock had previously closed at $36.72.

A number of other analysts have also issued reports on the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $40.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, February 4th. Scotiabank reaffirmed a “sector perform” rating and issued a $37.00 price objective (up from $35.00) on shares of Enterprise Products Partners in a research note on Thursday, February 5th. Citigroup reiterated a “buy” rating and issued a $39.00 price objective (up from $36.00) on shares of Enterprise Products Partners in a report on Wednesday, February 4th. Barclays increased their target price on Enterprise Products Partners from $38.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, March 5th. Finally, UBS Group restated a “buy” rating on shares of Enterprise Products Partners in a report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $36.57.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. 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 in the last quarter. CIBC Bancorp USA Inc. acquired a new position in shares of Enterprise Products Partners during the third quarter worth about $292,194,000. Goldman Sachs Group Inc. increased its stake in shares of Enterprise Products Partners by 12.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock worth $582,317,000 after buying an additional 1,940,583 shares during the period. Energy Income Partners LLC raised its holdings in Enterprise Products Partners by 14.3% in the second quarter. Energy Income Partners LLC now owns 14,624,238 shares of the oil and gas producer’s stock valued at $453,498,000 after acquiring an additional 1,834,659 shares in the last quarter. Finally, Corient Private Wealth LLC raised its holdings in Enterprise Products Partners by 119.4% in the second quarter. Corient Private Wealth LLC now owns 2,414,035 shares of the oil and gas producer’s stock valued at $74,859,000 after acquiring an additional 1,313,976 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Up 1.3%

The company has a debt-to-equity ratio of 1.07, a current ratio of 1.04 and a quick ratio of 0.74. The company has a market cap of $80.41 billion, a PE ratio of 13.98, a P/E/G ratio of 2.64 and a beta of 0.59. The business’s 50 day moving average is $34.49 and its 200-day moving average is $32.65.

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 analysts’ consensus estimates of $0.69 by $0.06. The company had revenue of $13.79 billion for 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 quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.74 EPS. As a group, analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were paid a $0.55 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.20 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date was Friday, January 30th. Enterprise Products Partners’s payout ratio is 82.71%.

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.