Enterprise Products Partners (NYSE:EPD) Shares Up 1.6% – What’s Next?
by Danessa Lincoln · The Markets DailyEnterprise Products Partners L.P. (NYSE:EPD – Get Free Report) was up 1.6% during trading on Monday. The stock traded as high as $36.88 and last traded at $36.7750. Approximately 2,875,480 shares changed hands during trading, a decline of 26% from the average daily volume of 3,884,707 shares. The stock had previously closed at $36.18.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Saturday. JPMorgan Chase & Co. boosted their target price on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Morgan Stanley reaffirmed an “underweight” rating and set a $41.00 price objective (up from $40.00) on shares of Enterprise Products Partners in a research report on Tuesday, August 18th. Stifel Nicolaus started coverage on shares of Enterprise Products Partners in a research report on Thursday, September 10th. They issued a “hold” rating and a $40.00 price objective on the stock. Finally, Capital One Financial initiated coverage on shares of Enterprise Products Partners in a research report on Tuesday, September 22nd. They set an “equal weight” rating and a $42.00 price objective for the company. Seven equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $40.12.
View Our Latest Stock Report on EPD
Enterprise Products Partners Trading Up 1.6%
The firm has a market capitalization of $79.41 billion, a P/E ratio of 12.77, a PEG ratio of 1.33 and a beta of 0.50. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 1.00. The firm has a 50 day moving average of $38.21 and a 200-day moving average of $37.95.
Enterprise Products Partners (NYSE:EPD – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The company had revenue of $18.27 billion for the quarter, compared to analysts’ expectations of $13.69 billion. During the same quarter last year, the business earned $0.66 earnings per share. Enterprise Products Partners’s revenue was up 60.8% on a year-over-year basis. On average, equities research analysts predict that Enterprise Products Partners L.P. will post 3.02 earnings per share for the current fiscal year.
Enterprise Products Partners Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a dividend of $0.56 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. 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 6.1%. Enterprise Products Partners’s payout ratio is currently 77.78%.
Institutional Trading of Enterprise Products Partners
A number of hedge funds have recently added to or reduced their stakes in EPD. Alps Advisors Inc. grew its position in Enterprise Products Partners by 0.6% during the 4th quarter. Alps Advisors Inc. now owns 42,639,131 shares of the oil and gas producer’s stock worth $1,367,011,000 after acquiring an additional 260,305 shares during the last quarter. Auto Owners Insurance Co boosted its position in Enterprise Products Partners by 3,106.0% during the 4th quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock worth $102,784,000 after buying an additional 31,060,000 shares during the period. Energy Income Partners LLC acquired a new position in Enterprise Products Partners in the 2nd quarter valued at approximately $508,461,000. Bank of America Corp DE acquired a new stake in Enterprise Products Partners in the second quarter valued at $416,553,000. Finally, BlackRock Inc. bought a new position in Enterprise Products Partners during the 2nd quarter worth $255,325,000. Institutional investors and hedge funds own 26.07% of the company’s stock.
About Enterprise Products Partners
Enterprise Products Partners L.P. is a publicly traded master limited partnership that owns and operates midstream energy infrastructure in the United States. The company transports, stores, processes and exports oil, natural gas, natural gas liquids (NGLs), refined products and petrochemicals.
Its operations include pipelines, natural gas processing plants, NGL fractionation facilities, underground storage, marine terminals and export infrastructure. Enterprise serves producers, refiners, petrochemical manufacturers, utilities and other energy customers by connecting major producing regions with domestic and international markets.
Enterprise Products Partners was founded in 1968 and is headquartered in Houston, Texas.
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