Enterprise Products Partners (NYSE:EPD) Shares Up 1.6% – Here’s What Happened

Shares of Enterprise Products Partners L.P. (NYSE:EPD) traded up 1.6% on Wednesday . The stock traded as high as $38.12 and last traded at $37.9410. 2,168,724 shares changed hands during mid-day trading, a decline of 52% from the average session volume of 4,509,896 shares. The stock had previously closed at $37.35.

Analysts Set New Price Targets

EPD has been the subject of a number of research analyst reports. UBS Group reissued a “buy” rating on shares of Enterprise Products Partners in a report on Wednesday, March 4th. The Goldman Sachs Group reissued a “neutral” rating and issued a $39.00 price target on shares of Enterprise Products Partners in a report on Thursday, May 14th. Wall Street Zen downgraded shares of Enterprise Products Partners from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Stifel Nicolaus upped their price target on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. upped their price target on shares of Enterprise Products Partners from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. Nine equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Hold” and an average target price of $39.67.

Enterprise Products Partners Stock Up 1.6%

The business’s 50-day moving average price is $38.04 and its 200-day moving average price is $35.58. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $82.02 billion, a PE ratio of 14.05, a price-to-earnings-growth ratio of 1.34 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The company had revenue of $14.39 billion during the quarter, compared to analysts’ expectations of $13.62 billion. During the same period last year, the company earned $0.64 earnings per share. Enterprise Products Partners’s revenue for the quarter was down 6.7% compared to the same quarter last year. As a group, equities research analysts predict that Enterprise Products Partners L.P. will post 2.98 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were issued a $0.55 dividend. The ex-dividend date was Thursday, April 30th. This represents a $2.20 dividend on an annualized basis and a yield of 5.8%. Enterprise Products Partners’s dividend payout ratio is currently 81.48%.

Insider Buying and Selling

In other news, CEO Aj Teague acquired 2,665 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The shares were purchased at an average price of $37.55 per share, for a total transaction of $100,070.75. Following the completion of the acquisition, 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 32.60% of the company’s stock.

Hedge Funds Weigh In On Enterprise Products Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PMV Capital Advisers LLC acquired a new position in Enterprise Products Partners during the fourth quarter valued at approximately $25,000. Palisade Asset Management LLC acquired a new position in Enterprise Products Partners during the third quarter valued at approximately $31,000. Abich Financial Wealth Management LLC acquired a new stake in shares of Enterprise Products Partners in the third quarter worth $32,000. Texas Capital Bancshares Inc TX acquired a new stake in shares of Enterprise Products Partners in the third quarter worth $32,000. Finally, Daytona Street Capital LLC acquired a new stake in shares of Enterprise Products Partners in the fourth quarter worth $42,000. 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.