Enterprise Products Partners (NYSE:EPD) Trading Up 1.5% – Here’s What Happened

Enterprise Products Partners L.P. (NYSE:EPD)’s share price shot up 1.5% during trading on Tuesday . The company traded as high as $31.12 and last traded at $30.23. 2,956,882 shares traded hands during mid-day trading, a decline of 31% from the average session volume of 4,291,111 shares. The stock had previously closed at $29.80.

Analyst Ratings Changes

Several equities research analysts have commented on EPD shares. Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Barclays upped their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Royal Bank of Canada reissued an “outperform” rating and set a $37.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a report on Wednesday, December 18th. Finally, 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 report on Thursday, March 6th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.89.

Enterprise Products Partners Trading Down 2.8 %

The firm has a market cap of $62.76 billion, a price-to-earnings ratio of 10.77, a price-to-earnings-growth ratio of 1.37 and a beta of 0.78. The business has a 50 day moving average of $33.34 and a 200 day moving average of $31.88. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) 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 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 firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period last year, the company earned $0.72 EPS. On average, research analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.535 dividend. The ex-dividend date of this dividend was Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 7.38%. Enterprise Products Partners’s payout ratio is 79.55%.

Institutional Investors Weigh In On Enterprise Products Partners

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kayne Anderson Capital Advisors LP boosted its stake in Enterprise Products Partners by 16.7% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock worth $426,125,000 after buying an additional 1,947,017 shares during the last quarter. Barclays PLC boosted its position in shares of Enterprise Products Partners by 110.0% in the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock worth $73,699,000 after acquiring an additional 1,326,010 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Enterprise Products Partners in the fourth quarter valued at approximately $36,279,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Enterprise Products Partners by 8.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer’s stock worth $330,739,000 after purchasing an additional 851,188 shares during the period. Finally, KDK Private Wealth Management LLC purchased a new position in Enterprise Products Partners during the fourth quarter worth approximately $22,333,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

About Enterprise Products Partners

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.