Enterprise Products Partners (NYSE:EPD) Shares Up 2.8% – Here’s Why

Enterprise Products Partners L.P. (NYSE:EPD) was up 2.8% during mid-day trading on Monday . The stock traded as high as $38.41 and last traded at $38.3050. Approximately 3,585,764 shares were traded during mid-day trading, a decline of 16% from the average session volume of 4,244,149 shares. The stock had previously closed at $37.27.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on EPD shares. Wells Fargo & Company raised Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $40.00 to $42.00 in a research note on Wednesday, March 25th. Wolfe Research raised Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Weiss Ratings cut Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, July 2nd. Jefferies Financial Group upped their target price on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the company a “hold” rating in a report on Tuesday, March 31st. Finally, Wall Street Zen cut shares of Enterprise Products Partners from a “buy” rating to a “hold” rating in a research note on Sunday. Eight equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Hold” and a consensus price target of $40.13.

Enterprise Products Partners Price Performance

The company has a 50-day moving average of $37.65 and a two-hundred day moving average of $36.33. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61. The stock has a market capitalization of $82.81 billion, a PE ratio of 14.19, a P/E/G ratio of 1.32 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The company had revenue of $14.39 billion for the quarter, compared to analyst estimates of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The company’s revenue was down 6.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 EPS. Sell-side analysts predict that Enterprise Products Partners L.P. will post 3.01 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, August 14th. Investors of record on Friday, July 31st will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 5.8%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 82.96%.

Institutional Trading of Enterprise Products Partners

Several institutional investors have recently made changes to their positions in EPD. Miller Howard Investments Inc. NY raised its stake in shares of Enterprise Products Partners by 1.0% in the 4th quarter. Miller Howard Investments Inc. NY now owns 3,112,119 shares of the oil and gas producer’s stock valued at $99,775,000 after acquiring an additional 31,733 shares in the last quarter. Royal Palms Capital LLC bought a new position in Enterprise Products Partners during the fourth quarter valued at about $1,830,000. Texas Yale Capital Corp. lifted its position in Enterprise Products Partners by 4.9% in the fourth quarter. Texas Yale Capital Corp. now owns 1,905,939 shares of the oil and gas producer’s stock worth $61,104,000 after purchasing an additional 88,475 shares during the period. Oxbow Advisors LLC lifted its holdings in shares of Enterprise Products Partners by 3.0% during the 4th quarter. Oxbow Advisors LLC now owns 1,329,085 shares of the oil and gas producer’s stock worth $42,610,000 after acquiring an additional 39,052 shares during the period. Finally, Thrivent Financial for Lutherans boosted its holdings in 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 valued at $144,592,000 after purchasing an additional 327,807 shares in the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.