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

Enterprise Products Partners L.P. (NYSE:EPD)’s share price traded up 1.6% during 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. 1,032,605 shares traded hands during trading, a decline of 79% from the average session volume of 4,815,877 shares. The stock had previously closed at $33.59.

Several other equities research analysts have also recently commented on the company. Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Truist Financial increased their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. 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. Scotiabank increased their price objective 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. Finally, Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Four investment 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.90.

Institutional Trading of Enterprise Products Partners

A number of large investors have recently made changes to their positions in EPD. Rosenberg Matthew Hamilton boosted its stake in shares of Enterprise Products Partners by 364.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 656 shares during the last quarter. Tidemark LLC boosted its stake in shares of Enterprise Products Partners by 54.3% during the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 318 shares during the last quarter. Lee Danner & Bass Inc. acquired a new stake in shares of Enterprise Products Partners during the fourth quarter valued at $29,000. Crowley Wealth Management Inc. acquired a new stake in shares of Enterprise Products Partners during the fourth quarter valued at $30,000. Finally, National Bank of Canada FI boosted its stake in shares of Enterprise Products Partners by 55.4% during the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock valued at $32,000 after acquiring an additional 360 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

The company has a 50-day moving average of $33.23 and a two-hundred day moving average of $31.41. The stock has a market capitalization of $73.95 billion, a PE ratio of 12.70, a P/E/G 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 for the quarter, topping the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the prior year, the business posted $0.72 earnings per share. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. Sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.27%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 79.55%.

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.