Enterprise Products Partners (NYSE:EPD) Trading Up 1.8% on Analyst Upgrade

Shares of Enterprise Products Partners L.P. (NYSE:EPD) traded up 1.8% on Monday after Truist Financial raised their price target on the stock from $36.00 to $40.00. Truist Financial currently has a hold rating on the stock. Enterprise Products Partners traded as high as $39.01 and last traded at $38.71. 5,356,059 shares changed hands during trading, an increase of 12% from the average session volume of 4,764,428 shares. The stock had previously closed at $38.03.

EPD has been the subject of several other research reports. Stifel Nicolaus raised their price target on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Jefferies Financial Group upped their price objective on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the company a “hold” rating in a report on Tuesday, March 31st. UBS Group reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research report on Wednesday, March 4th. TD Cowen reiterated a “hold” rating and issued a $38.00 target price (up from $34.00) on shares of Enterprise Products Partners in a research note on Thursday, April 16th. Finally, Wall Street Zen raised shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a research report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Enterprise Products Partners has an average rating of “Moderate Buy” and a consensus target price of $38.93.

Insiders Place Their Bets

In related news, CEO Aj Teague acquired 2,665 shares of Enterprise Products Partners stock in a transaction on Friday, March 20th. The stock was acquired at an average price of $37.55 per share, for a total transaction of $100,070.75. Following the purchase, the chief executive officer owned 77,576 shares of the company’s stock, valued at approximately $2,912,978.80. This represents a 3.56% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 32.60% of the company’s stock.

Institutional Trading of Enterprise Products Partners

Several hedge funds and other institutional investors have recently bought and sold shares of EPD. NWF Advisory Services Inc. grew its stake in shares of Enterprise Products Partners by 24.5% during the 1st quarter. NWF Advisory Services Inc. now owns 8,765 shares of the oil and gas producer’s stock worth $332,000 after purchasing an additional 1,725 shares during the period. Chicago Partners Investment Group LLC lifted its stake in shares of Enterprise Products Partners by 1.0% in the 1st quarter. Chicago Partners Investment Group LLC now owns 2,066,758 shares of the oil and gas producer’s stock valued at $77,999,000 after purchasing an additional 20,007 shares during the period. Tradewinds LLC. acquired a new position in shares of Enterprise Products Partners in the 1st quarter valued at $203,000. Procyon Advisors LLC boosted its holdings in Enterprise Products Partners by 7.7% during the first quarter. Procyon Advisors LLC now owns 88,650 shares of the oil and gas producer’s stock worth $3,355,000 after buying an additional 6,337 shares in the last quarter. Finally, Diversify Wealth Management LLC purchased a new stake in Enterprise Products Partners during the first quarter worth $779,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Trading Up 1.8%

The company has a quick ratio of 0.74, a current ratio of 1.04 and a debt-to-equity ratio of 1.07. The company’s 50-day moving average is $37.51 and its 200 day moving average is $34.27. The company has a market cap of $83.68 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 1.44 and a beta of 0.52.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, April 28th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). Enterprise Products Partners had a return on equity of 19.56% and a net margin of 11.45%.The firm had revenue of $14.39 billion during the quarter, compared to analyst estimates of $13.62 billion. During the same quarter last year, the company posted $0.64 EPS. The company’s revenue was down 6.7% on a year-over-year basis. Research analysts predict that Enterprise Products Partners L.P. will post 2.89 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 14th. Investors of record on Thursday, April 30th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Thursday, April 30th. This represents a $2.20 dividend on an annualized basis and a yield of 5.7%. Enterprise Products Partners’s dividend payout ratio is presently 81.48%.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.