Enterprise Products Partners (NYSE:EPD) Shares Up 0.2% After Analyst Upgrade

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price shot up 0.2% on Thursday after Mizuho raised their price target on the stock from $33.00 to $34.00. Mizuho currently has a buy rating on the stock. Enterprise Products Partners traded as high as $29.22 and last traded at $29.11. 555,779 shares were traded during mid-day trading, a decline of 89% from the average session volume of 4,852,035 shares. The stock had previously closed at $29.05.

EPD has been the subject of a number of other reports. Royal Bank of Canada restated an “outperform” rating and set a $35.00 target price on shares of Enterprise Products Partners in a research report on Tuesday, February 13th. Barclays raised their target price on Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday. StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 9th. Stifel Nicolaus upped their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Finally, Truist Financial raised their target price on Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $32.55.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Fairfield Bush & CO. purchased a new position in shares of Enterprise Products Partners in the first quarter worth about $31,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Enterprise Products Partners by 2.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,571,535 shares of the oil and gas producer’s stock worth $169,611,000 after purchasing an additional 169,059 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Enterprise Products Partners by 4.7% during the 1st quarter. BlackRock Inc. now owns 25,050,292 shares of the oil and gas producer’s stock worth $646,548,000 after purchasing an additional 1,114,690 shares during the last quarter. Cibc World Market Inc. boosted its holdings in shares of Enterprise Products Partners by 3.2% during the 1st quarter. Cibc World Market Inc. now owns 89,367 shares of the oil and gas producer’s stock worth $2,307,000 after purchasing an additional 2,804 shares during the last quarter. Finally, Sei Investments Co. grew its position in shares of Enterprise Products Partners by 76.5% in the first quarter. Sei Investments Co. now owns 888,439 shares of the oil and gas producer’s stock valued at $22,931,000 after purchasing an additional 385,008 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Performance

The firm has a fifty day moving average of $27.51 and a 200 day moving average of $27.01. The stock has a market cap of $63.10 billion, a price-to-earnings ratio of 11.55 and a beta of 1.02. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.68.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.68 by $0.04. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The business had revenue of $14.62 billion for the quarter, compared to analyst estimates of $12.43 billion. During the same quarter in the previous year, the firm earned $0.65 EPS. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.64 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st were paid a $0.515 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $2.06 annualized dividend and a dividend yield of 7.08%. Enterprise Products Partners’s dividend payout ratio is 81.75%.

Enterprise Products Partners Company Profile

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.