Enterprise Products Partners (NYSE:EPD) Trading Up 0.7% – What’s Next?

Enterprise Products Partners L.P. (NYSE:EPD) traded up 0.7% during mid-day trading on Tuesday . The company traded as high as $31.57 and last traded at $31.43. 665,148 shares were traded during trading, a decline of 84% from the average session volume of 4,270,653 shares. The stock had previously closed at $31.20.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on EPD shares. Bank of America began coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price on the stock. Wells Fargo & Company downgraded 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 note on Wednesday, December 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Finally, US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.20.

Enterprise Products Partners Trading Up 0.7 %

The stock has a market capitalization of $68.08 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The firm has a 50-day moving average price of $31.20 and a 200-day moving average price of $29.88.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The company had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the business posted $0.60 EPS. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were paid a $0.525 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 6.69%. Enterprise Products Partners’s payout ratio is 78.65%.

Institutional Trading of Enterprise Products Partners

Large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in Enterprise Products Partners by 1.3% during the second quarter. Bank of New York Mellon Corp now owns 294,760 shares of the oil and gas producer’s stock valued at $8,542,000 after purchasing an additional 3,770 shares during the last quarter. Hantz Financial Services Inc. purchased a new stake in shares of Enterprise Products Partners during the second quarter worth $25,000. Commonwealth Equity Services LLC boosted its holdings in shares of Enterprise Products Partners by 0.8% in the second quarter. Commonwealth Equity Services LLC now owns 1,030,865 shares of the oil and gas producer’s stock worth $29,874,000 after acquiring an additional 8,406 shares during the period. Van ECK Associates Corp grew its position in shares of Enterprise Products Partners by 19.6% in the second quarter. Van ECK Associates Corp now owns 75,730 shares of the oil and gas producer’s stock valued at $2,195,000 after purchasing an additional 12,403 shares in the last quarter. Finally, Summit Financial LLC lifted its holdings in Enterprise Products Partners by 72.7% during the 2nd quarter. Summit Financial LLC now owns 31,558 shares of the oil and gas producer’s stock worth $915,000 after purchasing an additional 13,281 shares in the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

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.