Enterprise Products Partners (NYSE:EPD) Trading Up 0.2% Following Analyst Upgrade

Shares of Enterprise Products Partners L.P. (NYSE:EPDGet Free Report) were up 0.2% during trading on Thursday after Mizuho raised their price target on the stock from $33.00 to $34.00. Mizuho currently has a buy rating on the stock. Enterprise Products Partners traded as high as $29.22 and last traded at $29.11. Approximately 555,779 shares were traded during trading, a decline of 89% from the average daily volume of 4,852,035 shares. The stock had previously closed at $29.05.

Several other brokerages have also issued reports on EPD. Barclays lifted their target price on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday. StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 9th. Stifel Nicolaus lifted their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Wells Fargo & Company lifted their target price on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 price target on shares of Enterprise Products Partners in a research note on Tuesday, February 13th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $32.55.

View Our Latest Stock Report on EPD

Institutional Investors Weigh In On Enterprise Products Partners

A number of institutional investors have recently made changes to their positions in EPD. Miller Howard Investments Inc. NY grew its holdings in shares of Enterprise Products Partners by 7.1% in the third quarter. Miller Howard Investments Inc. NY now owns 3,189,590 shares of the oil and gas producer’s stock valued at $87,299,000 after purchasing an additional 210,603 shares in the last quarter. Kingsview Wealth Management LLC grew its holdings in shares of Enterprise Products Partners by 8.7% in the third quarter. Kingsview Wealth Management LLC now owns 38,550 shares of the oil and gas producer’s stock valued at $1,055,000 after purchasing an additional 3,075 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Enterprise Products Partners in the third quarter valued at approximately $3,793,000. U.S. Capital Wealth Advisors LLC grew its holdings in shares of Enterprise Products Partners by 16.5% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 1,794,073 shares of the oil and gas producer’s stock valued at $49,104,000 after purchasing an additional 254,175 shares in the last quarter. Finally, CFM Wealth Partners LLC acquired a new position in shares of Enterprise Products Partners in the fourth quarter valued at approximately $3,739,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Up 0.4 %

The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The stock has a market cap of $63.27 billion, a price-to-earnings ratio of 11.61 and a beta of 1.02. The business’s fifty day moving average is $27.56 and its two-hundred day moving average is $27.03.

Enterprise Products Partners (NYSE:EPDGet Free Report) last posted its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.68 by $0.04. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The company had revenue of $14.62 billion during the quarter, compared to analysts’ expectations of $12.43 billion. During the same quarter in the previous year, the business posted $0.65 EPS. The firm’s revenue was up 7.1% on a year-over-year basis. Equities analysts forecast that Enterprise Products Partners L.P. will post 2.64 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st were issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 7.06%. The ex-dividend date was Tuesday, January 30th. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.50. Enterprise Products Partners’s payout ratio is 81.75%.

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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