Enterprise Products Partners (NYSE:EPD) Reaches New 12-Month High Following Analyst Upgrade

Enterprise Products Partners L.P. (NYSE:EPD) reached a new 52-week high on Wednesday after Mizuho raised their price target on the stock from $33.00 to $34.00. Mizuho currently has a buy rating on the stock. Enterprise Products Partners traded as high as $29.25 and last traded at $29.16, with a volume of 369974 shares traded. The stock had previously closed at $29.06.

Other equities analysts have also issued research reports about the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a research note on Tuesday, February 13th. Barclays upped their price objective on Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Tuesday. Wells Fargo & Company upped their price objective on Enterprise Products Partners from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Stifel Nicolaus raised their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Truist Financial raised their price target on Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $32.55.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fairfield Bush & CO. purchased a new position in Enterprise Products Partners during the 2nd quarter worth $26,000. Pacific Center for Financial Services purchased a new position in Enterprise Products Partners during the 1st quarter worth $27,000. Burkett Financial Services LLC purchased a new position in Enterprise Products Partners during the 4th quarter worth $28,000. Intrepid Capital Management Inc. purchased a new position in Enterprise Products Partners during the 2nd quarter worth $35,000. Finally, Financial Freedom LLC purchased a new position in Enterprise Products Partners during the 4th quarter worth $38,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Trading Up 0.4 %

The company has a 50 day moving average of $27.56 and a two-hundred day moving average of $27.03. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93. The stock has a market capitalization of $63.27 billion, a PE ratio of 11.61 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.04. The firm had revenue of $14.62 billion for the quarter, compared to the consensus estimate of $12.43 billion. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.65 EPS. Sell-side analysts predict that Enterprise Products Partners L.P. will post 2.64 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st were paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 7.06%. The ex-dividend date of this dividend was Tuesday, January 30th. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.50. Enterprise Products Partners’s payout ratio is presently 81.75%.

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.