Enterprise Products Partners (NYSE:EPD) Shares Up 1.3% After Analyst Upgrade

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report)'s share price rose 1.3% during mid-day trading on Friday after Barclays raised their price target on the stock from $35.00 to $37.00. Barclays currently has an overweight rating on the stock. Enterprise Products Partners traded as high as $33.48 and last traded at $33.40. Approximately 662,210 shares were traded during trading, a decline of 86% from the average daily volume of 4,837,522 shares. The stock had previously closed at $32.97.

EPD has been the subject of several other reports. Scotiabank lifted their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a "sector perform" rating in a report on Thursday, March 6th. Citigroup reissued a "buy" rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Truist Financial raised their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the company a "buy" rating in a report on Friday, January 3rd. Morgan Stanley boosted their price objective on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 11th. Finally, Wells Fargo & Company lowered Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 target price for the company. in a research note on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $35.90.

Remove Ads

Institutional Investors Weigh In On Enterprise Products Partners

A number of institutional investors and hedge funds have recently modified their holdings of the business. Rosenberg Matthew Hamilton grew its holdings in Enterprise Products Partners by 364.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer's stock worth $26,000 after acquiring an additional 656 shares during the period. Tidemark LLC increased its holdings in Enterprise Products Partners by 54.3% in the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer's stock valued at $28,000 after purchasing an additional 318 shares during the last quarter. Lee Danner & Bass Inc. acquired a new position in Enterprise Products Partners in the fourth quarter valued at about $29,000. Crowley Wealth Management Inc. bought a new position in Enterprise Products Partners during the fourth quarter worth about $30,000. Finally, National Bank of Canada FI grew its position in shares of Enterprise Products Partners by 55.4% during the 4th quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer's stock worth $32,000 after buying an additional 360 shares during the period. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Trading Up 1.3 %

The company has a market capitalization of $73.72 billion, a P/E ratio of 12.66, a PEG ratio of 1.37 and a beta of 1.08. The business has a 50 day moving average price of $33.23 and a 200 day moving average price of $31.41. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

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 for the quarter, topping the consensus estimate of $0.69 by $0.05. The company had revenue of $14.20 billion for the quarter, compared to analyst estimates 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 for the quarter was down 2.9% compared to the same quarter last year. During the same period last year, the business posted $0.72 earnings per share. Analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 6.29%. The ex-dividend date was Friday, January 31st. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.53. Enterprise Products Partners's payout ratio is 79.55%.

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.