Enterprise Products Partners (NYSE:EPD) Trading 2.2% Higher – What’s Next?

Enterprise Products Partners L.P. (NYSE:EPD) was up 2.2% during mid-day trading on Friday . The company traded as high as $38.90 and last traded at $38.8440. Approximately 7,377,277 shares traded hands during trading, an increase of 80% from the average daily volume of 4,099,621 shares. The stock had previously closed at $38.02.

Analyst Upgrades and Downgrades

EPD has been the subject of several recent analyst reports. Weiss Ratings raised shares of Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a research note on Tuesday. Scotiabank reiterated a “sector perform” rating and set a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. TD Cowen reissued a “hold” rating and issued a $38.00 target price (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday, August 3rd. Wolfe Research upgraded Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Finally, Morgan Stanley set a $40.00 price target on Enterprise Products Partners and gave the stock an “underweight” rating in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $39.93.

Enterprise Products Partners Stock Up 2.2%

The firm has a market capitalization of $83.88 billion, a P/E ratio of 13.49, a PEG ratio of 1.36 and a beta of 0.49. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. The firm’s 50-day moving average is $37.56 and its 200 day moving average is $37.33.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. Enterprise Products Partners had a return on equity of 20.80% and a net margin of 10.79%.The firm had revenue of $18.27 billion during the quarter, compared to analysts’ expectations of $13.69 billion. During the same quarter in the prior year, the company earned $0.66 EPS. The company’s revenue was up 60.8% on a year-over-year basis. As a group, equities research analysts predict that Enterprise Products Partners L.P. will post 2.96 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a dividend of $0.56 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, July 31st. This represents a $2.24 dividend on an annualized basis and a yield of 5.8%. Enterprise Products Partners’s payout ratio is currently 77.78%.

Institutional Trading of Enterprise Products Partners

Hedge funds and other institutional investors have recently made changes to their positions in the business. Palisade Asset Management LLC bought a new stake in shares of Enterprise Products Partners in the third quarter worth $31,000. N.E.W. Advisory Services LLC acquired a new stake in Enterprise Products Partners in the 2nd quarter valued at $37,000. Bravera Wealth lifted its position in Enterprise Products Partners by 666.7% during the 2nd quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock worth $38,000 after buying an additional 900 shares in the last quarter. BOK Financial Private Wealth Inc. bought a new stake in Enterprise Products Partners during the 2nd quarter worth about $48,000. Finally, West Paces Advisors Inc. acquired a new position in shares of Enterprise Products Partners during the 2nd quarter worth about $55,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

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.