Enterprise Products Partners (NYSE:EPD) Trading Up 1.1% on Analyst Upgrade

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price was up 1.1% during mid-day trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $37.00 to $38.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Enterprise Products Partners traded as high as $34.28 and last traded at $34.20. Approximately 1,072,337 shares traded hands during trading, a decline of 74% from the average daily volume of 4,116,751 shares. The stock had previously closed at $33.84.

Several other analysts have also issued reports on the stock. Scotiabank increased their price target on shares of 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. Truist Financial lifted their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Morgan Stanley lifted their target price on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 11th. Finally, Barclays increased their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. 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’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.60.

Institutional Investors Weigh In On Enterprise Products Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Rosenberg Matthew Hamilton boosted 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 purchasing an additional 656 shares during the period. Tidemark LLC lifted its holdings in shares of Enterprise Products Partners by 54.3% in the fourth 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. bought a new position in shares of Enterprise Products Partners in the fourth quarter valued at approximately $29,000. Crowley Wealth Management Inc. purchased a new position in Enterprise Products Partners during the fourth quarter valued at approximately $30,000. Finally, National Bank of Canada FI increased its holdings in Enterprise Products Partners by 55.4% during the 4th 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. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 0.4 %

The company’s 50 day simple moving average is $33.46 and its 200-day simple moving average is $31.71. 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 firm has a market capitalization of $73.83 billion, a PE ratio of 12.67, a PEG ratio of 1.37 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.05. The firm had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company’s revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.72 EPS. On average, analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a $0.535 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.28%. Enterprise Products Partners’s dividend payout ratio is 79.55%.

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.