Enterprise Products Partners (NYSE:EPD) Trading Up 1.3% Following Analyst Upgrade

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price was up 1.3% 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 changed hands during trading, a decline of 86% from the average daily volume of 4,837,522 shares. The stock had previously closed at $32.97.

Other equities analysts have also recently issued reports about the stock. Morgan Stanley lifted their price objective on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Wolfe Research lowered 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 objective on Enterprise Products Partners from $37.00 to $40.00 and gave the company 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 target price for the company. in a report on Wednesday, December 18th. Finally, Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.90.

Institutional Trading of Enterprise Products Partners

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

Enterprise Products Partners Trading Up 1.4 %

The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The company has a market capitalization of $72.43 billion, a P/E ratio of 12.43, a PEG ratio of 1.37 and a beta of 1.08. The company’s fifty day simple moving average is $33.20 and its 200-day simple moving average is $31.35.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating 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%. Enterprise Products Partners’s revenue was down 2.9% compared to the same quarter last year. During the same period last year, the company posted $0.72 earnings per share. Research analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 6.40%. The ex-dividend date of this dividend was Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s payout ratio 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.