Enterprise Products Partners (NYSE:EPD) Shares Up 0.4% Following Analyst Upgrade

Shares of Enterprise Products Partners L.P. (NYSE:EPD) traded up 0.4% during trading on Thursday after Truist Financial raised their price target on the stock from $33.00 to $35.00. Truist Financial currently has a buy rating on the stock. Enterprise Products Partners traded as high as $27.90 and last traded at $27.85. 748,403 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 4,969,707 shares. The stock had previously closed at $27.74.

Several other equities analysts have also commented on EPD. StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. Scotiabank upped their price objective on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 4th. Barclays upped their price objective on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, March 26th. Stifel Nicolaus upped their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Finally, Mizuho restated a “buy” rating and issued a $34.00 price objective on shares of Enterprise Products Partners in a report on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Enterprise Products Partners has an average rating of “Buy” and an average target price of $32.75.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Smart Money Group LLC grew its position in shares of Enterprise Products Partners by 30.3% in the 1st quarter. Smart Money Group LLC now owns 26,160 shares of the oil and gas producer’s stock valued at $735,000 after buying an additional 6,083 shares during the last quarter. First Command Advisory Services Inc. grew its position in Enterprise Products Partners by 130.4% during the 1st quarter. First Command Advisory Services Inc. now owns 1,613 shares of the oil and gas producer’s stock worth $47,000 after purchasing an additional 913 shares during the last quarter. AlphaQ Advisors LLC grew its position in Enterprise Products Partners by 1.4% during the 1st quarter. AlphaQ Advisors LLC now owns 96,937 shares of the oil and gas producer’s stock worth $2,829,000 after purchasing an additional 1,373 shares during the last quarter. Quent Capital LLC grew its position in Enterprise Products Partners by 613.8% during the 1st quarter. Quent Capital LLC now owns 13,534 shares of the oil and gas producer’s stock worth $395,000 after purchasing an additional 11,638 shares during the last quarter. Finally, Lincoln National Corp grew its position in Enterprise Products Partners by 1.1% during the 1st quarter. Lincoln National Corp now owns 99,767 shares of the oil and gas producer’s stock worth $2,911,000 after purchasing an additional 1,073 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Price Performance

The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93. The company has a market capitalization of $60.80 billion, a PE ratio of 11.00 and a beta of 1.02. The company’s 50-day simple moving average is $28.64 and its 200-day simple moving average is $27.35.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.02. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.75%. The company had revenue of $14.76 billion for the quarter, compared to the consensus estimate of $13.82 billion. During the same period last year, the firm posted $0.64 EPS. Enterprise Products Partners’s revenue for the quarter was up 18.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.67 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be paid a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 7.35%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is 80.78%.

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.