Enterprise Products Partners (NYSE:EPD) Reaches New 12-Month High Following Analyst Upgrade

Enterprise Products Partners L.P. (NYSE:EPD) shares hit a new 52-week high during trading on Wednesday 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 $29.25 and last traded at $29.16, with a volume of 369974 shares traded. The stock had previously closed at $29.06.

Other analysts have also recently issued research reports about the stock. Wells Fargo & Company increased their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Stifel Nicolaus increased their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Truist Financial increased their price objective on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 9th. Finally, Barclays raised their price target on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $32.55.

Hedge Funds Weigh In On Enterprise Products Partners

Several hedge funds have recently bought and sold shares of the company. Newbridge Financial Services Group Inc. increased its holdings in Enterprise Products Partners by 59.8% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 10,135 shares of the oil and gas producer’s stock valued at $267,000 after buying an additional 3,792 shares during the period. Fairman Group LLC acquired a new stake in shares of Enterprise Products Partners in the 4th quarter valued at approximately $426,000. Livelsberger Financial Advisory acquired a new stake in shares of Enterprise Products Partners in the 4th quarter valued at approximately $49,000. Addis & Hill Inc acquired a new stake in shares of Enterprise Products Partners in the 4th quarter valued at approximately $674,000. Finally, Hennessy Advisors Inc. boosted its stake in shares of Enterprise Products Partners by 20.3% in the 4th quarter. Hennessy Advisors Inc. now owns 266,400 shares of the oil and gas producer’s stock valued at $7,020,000 after purchasing an additional 45,000 shares in the last quarter. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Trading Up 0.4 %

The business’s 50 day moving average price is $27.56 and its two-hundred day moving average price is $27.03. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $63.27 billion, a price-to-earnings ratio of 11.61 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The company had revenue of $14.62 billion for the quarter, compared to the consensus estimate of $12.43 billion. During the same period last year, the company posted $0.65 EPS. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities analysts predict that Enterprise Products Partners L.P. will post 2.64 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st were given a dividend of $0.515 per share. The ex-dividend date of this dividend was Tuesday, January 30th. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.50. This represents a $2.06 annualized dividend and a yield of 7.06%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.75%.

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.