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

Enterprise Products Partners L.P. (NYSE:EPD)’s share price traded up 1.3% during mid-day trading on Wednesday . The company traded as high as $39.38 and last traded at $39.3270. Approximately 2,046,498 shares traded hands during trading, a decline of 48% from the average session volume of 3,951,653 shares. The stock had previously closed at $38.83.

Analyst Ratings Changes

A number of equities analysts have commented on EPD shares. Scotiabank reissued a “sector perform” rating and issued a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. JPMorgan Chase & Co. lifted their price target on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. TD Cowen reissued a “hold” rating and set a $38.00 price objective (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday, August 3rd. Weiss Ratings upgraded Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a research report on Tuesday, August 11th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $41.00 price objective (up from $40.00) on shares of Enterprise Products Partners in a research note on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $40.00.

Enterprise Products Partners Stock Up 1.3%

The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.93. The company’s fifty day moving average price is $38.23 and its 200-day moving average price is $37.82. The stock has a market cap of $84.93 billion, a P/E ratio of 13.66, a price-to-earnings-growth ratio of 1.42 and a beta of 0.50.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The company had revenue of $18.27 billion for the quarter, compared to analyst estimates of $13.69 billion. During the same period in the prior year, the company posted $0.66 EPS. The firm’s revenue for the quarter was up 60.8% on a year-over-year basis. Equities analysts forecast that Enterprise Products Partners L.P. will post 3.03 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.7%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio is 77.78%.

Institutional Trading of Enterprise Products Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Palms Capital LLC acquired a new stake in shares of Enterprise Products Partners in the fourth quarter worth approximately $1,830,000. Texas Yale Capital Corp. lifted its holdings in Enterprise Products Partners by 4.9% in the 4th quarter. Texas Yale Capital Corp. now owns 1,905,939 shares of the oil and gas producer’s stock valued at $61,104,000 after purchasing an additional 88,475 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Enterprise Products Partners by 7.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 4,510,036 shares of the oil and gas producer’s stock worth $144,592,000 after buying an additional 327,807 shares in the last quarter. Evolve Private Wealth LLC raised its position in shares of Enterprise Products Partners by 662.0% in the first quarter. Evolve Private Wealth LLC now owns 154,492 shares of the oil and gas producer’s stock valued at $5,846,000 after buying an additional 134,218 shares during the last quarter. Finally, Mizuho Markets Americas LLC purchased a new position in shares of Enterprise Products Partners in the second quarter worth about $12,866,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a publicly traded midstream energy partnership that provides transportation, storage, processing and export services for crude oil, natural gas, natural gas liquids (NGLs), petrochemicals and refined products. The company operates an integrated network of pipelines, processing plants, fractionation facilities, storage assets and marine terminals.

Enterprise’s NGL operations include natural gas processing, NGL fractionation and the production and distribution of ethane, propane, butanes and natural gasoline.