Enterprise Products Partners (NYSE:EPD) Shares Up 1.5% – Here’s What Happened

Shares of Enterprise Products Partners L.P. (NYSE:EPD) rose 1.5% during mid-day trading on Wednesday . The stock traded as high as $31.67 and last traded at $31.49. Approximately 1,674,677 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 4,304,995 shares. The stock had previously closed at $31.01.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Bank of America began coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target for the company. Wells Fargo & Company lowered Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a report on Wednesday, December 18th. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average price target of $34.20.

Enterprise Products Partners Stock Up 1.5 %

The stock has a 50-day moving average of $31.03 and a 200-day moving average of $29.80. The firm has a market cap of $68.26 billion, a price-to-earnings ratio of 11.79, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter in the previous year, the business posted $0.60 earnings per share. The company’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a $0.525 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a yield of 6.67%. Enterprise Products Partners’s dividend payout ratio is currently 78.65%.

Hedge Funds Weigh In On Enterprise Products Partners

Institutional investors have recently bought and sold shares of the stock. Tortoise Capital Advisors L.L.C. boosted its holdings in shares of Enterprise Products Partners by 4.8% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock worth $470,091,000 after buying an additional 741,237 shares during the period. FMR LLC raised its position in shares of Enterprise Products Partners by 9.3% during the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after buying an additional 1,225,988 shares during the last quarter. Pathway Financial Advisers LLC boosted its stake in Enterprise Products Partners by 2,862.8% during the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock worth $225,777,000 after buying an additional 7,494,224 shares in the last quarter. Westwood Holdings Group Inc. lifted its stake in Enterprise Products Partners by 9.0% during the second quarter. Westwood Holdings Group Inc. now owns 5,404,012 shares of the oil and gas producer’s stock worth $156,608,000 after purchasing an additional 447,768 shares during the period. Finally, Hamlin Capital Management LLC grew its stake in shares of Enterprise Products Partners by 0.5% in the 3rd quarter. Hamlin Capital Management LLC now owns 4,923,948 shares of the oil and gas producer’s stock valued at $143,336,000 after purchasing an additional 24,335 shares during the period. 26.07% of the stock is currently owned by institutional investors.

About Enterprise Products Partners

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.