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

Enterprise Products Partners L.P. (NYSE:EPD) was up 1.5% on Tuesday . The company traded as high as $33.03 and last traded at $33.03. Approximately 980,861 shares were traded during trading, a decline of 71% from the average daily volume of 3,400,234 shares. The stock had previously closed at $32.54.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Scotiabank initiated coverage on Enterprise Products Partners in a research report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 target price on the stock. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a research note on Wednesday, December 18th. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Finally, Bank of America assumed coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective for the company. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average target price of $34.60.

Enterprise Products Partners Trading Up 1.0 %

The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The business’s 50 day moving average price is $31.94 and its 200-day moving average price is $30.17. The firm has a market capitalization of $73.01 billion, a price-to-earnings ratio of 12.62, a price-to-earnings-growth ratio of 1.57 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The business had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. Enterprise Products Partners’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 EPS. Equities analysts forecast that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a dividend of $0.535 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.35%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 78.65%.

Institutional Trading of Enterprise Products Partners

Several institutional investors have recently added to or reduced their stakes in EPD. Oppenheimer Asset Management Inc. lifted its position in Enterprise Products Partners by 1.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 63,938 shares of the oil and gas producer’s stock worth $1,853,000 after purchasing an additional 611 shares during the period. Citizens Financial Group Inc. RI bought a new stake in shares of Enterprise Products Partners during the 2nd quarter worth about $424,000. Perennial Investment Advisors LLC bought a new position in Enterprise Products Partners in the 2nd quarter worth $202,000. Axxcess Wealth Management LLC boosted its position in shares of Enterprise Products Partners by 59.9% in the second quarter. Axxcess Wealth Management LLC now owns 14,871 shares of the oil and gas producer’s stock valued at $431,000 after acquiring an additional 5,571 shares during the period. Finally, L & S Advisors Inc increased its stake in Enterprise Products Partners by 24.5% during the second quarter. L & S Advisors Inc now owns 9,340 shares of the oil and gas producer’s stock valued at $271,000 after acquiring an additional 1,840 shares during the period. Institutional investors own 26.07% of the company’s stock.

About Enterprise Products Partners

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.