Enterprise Products Partners (NYSE:EPD) Sets New 1-Year High – What’s Next?

Enterprise Products Partners L.P. (NYSE:EPD) hit a new 52-week high during trading on Wednesday . The stock traded as high as $35.55 and last traded at $35.4460, with a volume of 302094 shares traded. The stock had previously closed at $35.19.

Analyst Upgrades and Downgrades

EPD has been the subject of a number of recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Thursday, January 22nd. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $32.00 price objective on shares of Enterprise Products Partners in a research note on Friday, December 19th. Raymond James Financial lowered shares of Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 target price for the company. in a report on Monday, January 5th. Citigroup reissued a “buy” rating and set a $39.00 price target (up previously from $36.00) on shares of Enterprise Products Partners in a research report on Wednesday, February 4th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a research note on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $36.00.

Enterprise Products Partners Stock Up 1.2%

The company has a current ratio of 0.88, a quick ratio of 0.60 and a debt-to-equity ratio of 1.04. The business’s 50-day simple moving average is $32.72 and its 200-day simple moving average is $31.92. The company has a market capitalization of $77.00 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 2.50 and a beta of 0.60.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, February 3rd. The oil and gas producer reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. Enterprise Products Partners had a net margin of 11.05% and a return on equity of 19.43%. The firm had revenue of $13.79 billion for the quarter, compared to analyst estimates of $12.44 billion. During the same quarter in the prior year, the business earned $0.74 earnings per share. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be given a dividend of $0.55 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, January 30th. This represents a $2.20 annualized dividend and a yield of 6.2%. Enterprise Products Partners’s dividend payout ratio is presently 82.71%.

Enterprise Products Partners declared that its board has approved a share repurchase program on Thursday, October 30th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the oil and gas producer to repurchase up to 7.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Activity at Enterprise Products Partners

In other news, Director John R. Rutherford acquired 15,000 shares of the firm’s stock in a transaction dated Monday, December 29th. The shares were bought at an average price of $32.09 per share, with a total value of $481,350.00. Following the acquisition, the director owned 173,586 shares of the company’s stock, valued at $5,570,374.74. This trade represents a 9.46% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 32.60% of the company’s stock.

Hedge Funds Weigh In On Enterprise Products Partners

Hedge funds have recently made changes to their positions in the business. PMV Capital Advisers LLC bought a new stake in shares of Enterprise Products Partners during the fourth quarter valued at approximately $25,000. Winnow Wealth LLC bought a new stake in shares of Enterprise Products Partners during the second quarter worth $28,000. Palisade Asset Management LLC acquired a new stake in shares of Enterprise Products Partners during the third quarter worth $31,000. Traub Capital Management LLC bought a new stake in Enterprise Products Partners in the 2nd quarter valued at $31,000. Finally, Texas Capital Bancshares Inc TX acquired a new position in shares of Enterprise Products Partners during the third quarter worth about $32,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

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.