Enterprise Products Partners (NYSE:EPD) Trading 1.1% Higher Following Analyst Upgrade

Enterprise Products Partners L.P. (NYSE:EPD) was up 1.1% during trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $37.00 to $38.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Enterprise Products Partners traded as high as $34.28 and last traded at $34.20. Approximately 1,072,337 shares were traded during trading, a decline of 74% from the average daily volume of 4,116,751 shares. The stock had previously closed at $33.84.

Several other equities research analysts also recently issued reports on EPD. Scotiabank lifted their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a report on Thursday, March 6th. Morgan Stanley raised their price objective on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 11th. Barclays upped their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Truist Financial boosted their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Finally, Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $36.60.

Institutional Trading of Enterprise Products Partners

Large investors have recently added to or reduced their stakes in the business. Cerity Partners LLC raised its stake in shares of Enterprise Products Partners by 15.9% during the third quarter. Cerity Partners LLC now owns 395,516 shares of the oil and gas producer’s stock valued at $11,513,000 after purchasing an additional 54,325 shares in the last quarter. Truvestments Capital LLC bought a new position in shares of Enterprise Products Partners in the third quarter valued at approximately $49,000. FMR LLC increased its stake 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 acquiring an additional 1,225,988 shares during the period. D.A. Davidson & CO. lifted its position in Enterprise Products Partners by 1.9% in the third quarter. D.A. Davidson & CO. now owns 470,501 shares of the oil and gas producer’s stock worth $13,696,000 after purchasing an additional 8,829 shares during the period. Finally, Townsquare Capital LLC boosted its stake in Enterprise Products Partners by 35.0% during the 3rd quarter. Townsquare Capital LLC now owns 23,920 shares of the oil and gas producer’s stock valued at $696,000 after purchasing an additional 6,203 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Trading Up 1.1 %

The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $74.07 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 1.37 and a beta of 1.08. The firm has a 50-day moving average price of $33.44 and a 200-day moving average price of $31.66.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. The business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.72 earnings per share. As a group, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.535 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.26%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 79.55%.

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.