Enterprise Products Partners (NYSE:EPD) Shares Up 1.3% – What’s Next?

Enterprise Products Partners L.P. (NYSE:EPD) shot up 1.3% during trading on Monday . The company traded as high as $31.67 and last traded at $31.51. 1,438,764 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 4,364,447 shares. The stock had previously closed at $31.11.

Analyst Ratings Changes

A number of research firms recently commented on EPD. JPMorgan Chase & Co. increased their price target on Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. StockNews.com upgraded Enterprise Products Partners from a “hold” rating to a “buy” rating in a report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and set a $37.00 price target on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Scotiabank lifted their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a report on Thursday, March 6th. Finally, Barclays upped their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $36.89.

Enterprise Products Partners Trading Up 0.9%

The firm’s 50 day moving average is $31.77 and its 200 day moving average is $32.05. The company has a market cap of $67.99 billion, a PE ratio of 11.67, a PEG ratio of 1.37 and a beta of 0.67. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.05). Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The firm had revenue of $15.42 billion for the quarter, compared to analysts’ expectations of $14.14 billion. During the same period in the prior year, the business posted $0.66 earnings per share. The business’s quarterly revenue was up 4.5% on a year-over-year basis. On average, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be issued a dividend of $0.535 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.82%. Enterprise Products Partners’s dividend payout ratio is currently 80.15%.

Institutional Trading of Enterprise Products Partners

A number of institutional investors have recently modified their holdings of EPD. ING Groep NV bought a new stake in shares of Enterprise Products Partners during the 1st quarter valued at about $71,052,000. Alps Advisors Inc. grew its position in shares of Enterprise Products Partners by 5.0% in the 1st quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer’s stock worth $1,410,891,000 after buying an additional 1,967,188 shares during the period. Kayne Anderson Capital Advisors LP grew its position in shares of Enterprise Products Partners by 16.7% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock worth $426,125,000 after buying an additional 1,947,017 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Enterprise Products Partners by 65.3% during the first quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer’s stock valued at $148,415,000 after acquiring an additional 1,717,768 shares in the last quarter. Finally, Truist Financial Corp increased its holdings in shares of Enterprise Products Partners by 293.6% during the first quarter. Truist Financial Corp now owns 2,018,964 shares of the oil and gas producer’s stock valued at $68,927,000 after acquiring an additional 1,506,055 shares in the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

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.