Enterprise Products Partners (NYSE:EPD) Shares Up 2.3% – What’s Next?
by Jessica Moore · The Cerbat GemEnterprise Products Partners L.P. (NYSE:EPD – Get Free Report) shares were up 2.3% during trading on Thursday . The stock traded as high as $39.30 and last traded at $39.1530. Approximately 11,100,356 shares traded hands during mid-day trading, an increase of 135% from the average daily volume of 4,717,214 shares. The stock had previously closed at $38.29.
Analyst Ratings Changes
Several research analysts recently commented on EPD shares. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $39.00 price objective on shares of Enterprise Products Partners in a report on Thursday. Scotiabank reaffirmed a “sector perform” rating and issued a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday. Wolfe Research upgraded Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. TD Cowen reiterated a “hold” rating and issued a $38.00 price target (up from $34.00) on shares of Enterprise Products Partners in a research report on Thursday, April 16th. Finally, Royal Bank Of Canada lifted their price target on Enterprise Products Partners from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, March 30th. Nine equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $39.60.
Check Out Our Latest Stock Analysis on EPD
Enterprise Products Partners Stock Performance
The company has a market capitalization of $84.64 billion, a PE ratio of 14.50, a PEG ratio of 1.43 and a beta of 0.52. The company has a quick ratio of 0.74, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. The company has a 50-day moving average price of $37.74 and a two-hundred day moving average price of $34.63.
Enterprise Products Partners (NYSE:EPD – Get Free Report) last announced its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.03). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The company had revenue of $14.39 billion during the quarter, compared to analysts’ expectations of $13.62 billion. During the same quarter last year, the firm posted $0.64 earnings per share. Enterprise Products Partners’s revenue for the quarter was down 6.7% compared to the same quarter last year. Analysts predict that Enterprise Products Partners L.P. will post 2.92 EPS for the current fiscal year.
Enterprise Products Partners Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Investors of record on Thursday, April 30th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 5.6%. The ex-dividend date is Thursday, April 30th. Enterprise Products Partners’s payout ratio is presently 81.48%.
Insider Buying and Selling
In other Enterprise Products Partners news, CEO Aj Teague bought 2,665 shares of Enterprise Products Partners stock in a transaction that occurred on Friday, March 20th. The stock was acquired at an average cost of $37.55 per share, for a total transaction of $100,070.75. Following the completion of the transaction, the chief executive officer directly owned 77,576 shares in the company, valued at $2,912,978.80. This represents a 3.56% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 32.60% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Enterprise Products Partners
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tred Avon Family Wealth LLC purchased a new position in Enterprise Products Partners during the third quarter worth about $1,015,000. Miller Howard Investments Inc. NY grew its position in Enterprise Products Partners by 1.0% during the fourth quarter. Miller Howard Investments Inc. NY now owns 3,112,119 shares of the oil and gas producer’s stock worth $99,775,000 after buying an additional 31,733 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Enterprise Products Partners by 3.0% during the third quarter. PNC Financial Services Group Inc. now owns 1,252,088 shares of the oil and gas producer’s stock worth $39,153,000 after buying an additional 36,339 shares in the last quarter. Advisors Asset Management Inc. grew its position in Enterprise Products Partners by 20.2% during the third quarter. Advisors Asset Management Inc. now owns 229,911 shares of the oil and gas producer’s stock worth $7,189,000 after buying an additional 38,660 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Enterprise Products Partners by 70.6% in the 3rd quarter. Victory Capital Management Inc. now owns 1,495,518 shares of the oil and gas producer’s stock worth $46,765,000 after purchasing an additional 619,014 shares in the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.
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.