Enterprise Products Partners (NYSE:EPD) Shares Up 1.1% Following Analyst Upgrade
Enterprise Products Partners (NYSE:EPD) shares rose 1.1% after Scotiabank upgraded its price target from $35 to $36. The stock traded at $31.41 with a volume decline of 83%. Analysts have mixed ratings, with four holding, seven buying, and two strong buys. Institutional investors own 26.07% of EPD. The company reported $0.64 EPS, missing estimates, but revenue was $15.42 billion, exceeding expectations. A quarterly dividend of $0.535 was recently paid to investors.
Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report)'s share price was up 1.1% during mid-day trading on Friday after Scotiabank raised their price target on the stock from $35.00 to $36.00. Scotiabank currently has a sector perform rating on the stock. Enterprise Products Partners traded as high as $31.39 and last traded at $31.41. Approximately 745,870 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 4,396,476 shares. The stock had previously closed at $31.06.
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Several other equities analysts have also recently commented on EPD. JPMorgan Chase & Co. upped their price target on Enterprise Products Partners from $37.00 to $38.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. Argus upgraded Enterprise Products Partners to a "strong-buy" rating in a research note on Monday, May 5th. Barclays decreased their price target on shares of Enterprise Products Partners from $37.00 to $36.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 20th. Citigroup reduced their price objective on shares of Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Finally, Morgan Stanley lifted their target price on shares of 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. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.67.
View Our Latest Research Report on Enterprise Products Partners
Institutional Trading of Enterprise Products Partners
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Several large investors have recently made changes to their positions in EPD. Alps Advisors Inc. grew its position in shares of Enterprise Products Partners by 5.0% during the 1st quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer's stock worth $1,410,891,000 after buying an additional 1,967,188 shares during the period. Invesco Ltd. boosted its position in Enterprise Products Partners by 1.3% during the fourth quarter. Invesco Ltd. now owns 27,076,718 shares of the oil and gas producer's stock valued at $849,126,000 after purchasing an additional 359,288 shares during the last quarter. FMR LLC grew its position in shares of Enterprise Products Partners by 2.1% in the 4th quarter. FMR LLC now owns 14,734,295 shares of the oil and gas producer's stock valued at $462,067,000 after acquiring an additional 304,997 shares during the period. Kayne Anderson Capital Advisors LP increased its holdings in shares of Enterprise Products Partners by 16.7% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer's stock worth $426,125,000 after acquiring an additional 1,947,017 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Enterprise Products Partners by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,003,573 shares of the oil and gas producer's stock valued at $375,662,000 after acquiring an additional 457,045 shares during the period. Institutional investors own 26.07% of the company's stock.
Enterprise Products Partners Stock Up 1.1%
The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The company has a market cap of $68.13 billion, a price-to-earnings ratio of 11.68, a P/E/G ratio of 1.37 and a beta of 0.65. The stock has a fifty day moving average price of $30.99 and a two-hundred day moving average price of $32.24.
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Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.05). The business had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.14 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.66 earnings per share. As a group, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.
Enterprise Products Partners Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th were given a dividend of $0.535 per share. The ex-dividend date was Wednesday, April 30th. This represents a $2.14 annualized dividend and a yield of 6.81%. Enterprise Products Partners's dividend payout ratio is presently 80.15%.
About Enterprise Products Partners
(Get Free Report)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.
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