Enterprise Products Partners (NYSE:EPD) Shares Up 1.6% After Analyst Upgrade

Shares of Enterprise Products Partners L.P. (NYSE:EPD) were up 1.6% during mid-day trading on Monday 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 $34.10 and last traded at $34.12. Approximately 1,032,605 shares were traded during trading, a decline of 79% from the average daily volume of 4,815,877 shares. The stock had previously closed at $33.59.

Several other analysts also recently weighed in on EPD. Scotiabank increased their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research note on Thursday, March 6th. 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 research report on Wednesday, December 18th. 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. Truist Financial upped 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. Finally, Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.90.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in EPD. Assetmark Inc. raised its stake in shares of Enterprise Products Partners by 19,800.0% in the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after acquiring an additional 1,188 shares during the last quarter. Caprock Group LLC bought a new stake in Enterprise Products Partners during the 3rd quarter worth about $1,943,000. Tranquility Partners LLC lifted its position in shares of Enterprise Products Partners by 1.5% during the third quarter. Tranquility Partners LLC now owns 23,204 shares of the oil and gas producer’s stock worth $675,000 after purchasing an additional 346 shares in the last quarter. BIP Wealth LLC bought a new position in Enterprise Products Partners in the 3rd quarter worth approximately $614,000. Finally, Avior Wealth Management LLC boosted its position in Enterprise Products Partners by 46.2% in the 3rd quarter. Avior Wealth Management LLC now owns 17,409 shares of the oil and gas producer’s stock valued at $507,000 after buying an additional 5,500 shares during the last quarter. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Down 0.4 %

The firm has a 50 day moving average price of $33.31 and a 200-day moving average price of $31.48. The firm has a market cap of $73.20 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. The company had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The company’s revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.72 EPS. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.535 dividend. The ex-dividend date of this dividend was Friday, January 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a yield of 6.33%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 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.