Enterprise Products Partners (NYSE:EPD) Trading Up 2.9% - Here's Why

Shares of Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) rose 2.9% during trading on Thursday . The stock traded as high as $31.28 and last traded at $31.31. Approximately 814,548 shares traded hands during trading, a decline of 81% from the average daily volume of 4,355,702 shares. The stock had previously closed at $30.44.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Morgan Stanley increased their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 11th. Scotiabank boosted their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a "sector perform" rating in a research note on Thursday, March 6th. Barclays raised their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock an "overweight" rating in a report on Friday, March 14th. StockNews.com upgraded shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a report on Tuesday, April 15th. Finally, Citigroup reissued a "buy" rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.89.

Enterprise Products Partners Stock Down 2.9 %

The business has a 50 day moving average price of $32.61 and a 200 day moving average price of $31.91. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The stock has a market cap of $65.25 billion, a PE ratio of 11.20, a P/E/G ratio of 1.37 and a beta of 0.78.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.05. The firm had revenue of $14.20 billion during the quarter, compared to analysts' expectations of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business's revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.72 EPS. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be paid a $0.535 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $2.14 annualized dividend and a dividend yield of 7.10%. Enterprise Products Partners's dividend payout ratio is presently 79.55%.

Hedge Funds Weigh In On Enterprise Products Partners

Hedge funds have recently bought and sold shares of the business. Trust Co. of Vermont lifted its position in shares of Enterprise Products Partners by 10.0% during the 4th quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer's stock valued at $104,000 after buying an additional 300 shares in the last quarter. Griffin Asset Management Inc. lifted its holdings in Enterprise Products Partners by 0.8% during the fourth quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer's stock valued at $1,203,000 after purchasing an additional 305 shares in the last quarter. Evanson Asset Management LLC grew its position in shares of Enterprise Products Partners by 0.4% in the fourth quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer's stock valued at $2,304,000 after purchasing an additional 306 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Enterprise Products Partners by 14.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer's stock worth $78,000 after purchasing an additional 308 shares in the last quarter. Finally, Sandbox Financial Partners LLC lifted its stake in Enterprise Products Partners by 3.2% in the 4th quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer's stock valued at $317,000 after buying an additional 309 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company's stock.

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.