Enterprise Products Partners (NYSE:EPD) Stock Price Up 1.3% After Analyst Upgrade

Enterprise Products Partners L.P. (NYSE:EPD) shares were up 1.3% during trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $35.00 to $39.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Enterprise Products Partners traded as high as $37.33 and last traded at $37.1950. Approximately 3,008,326 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 4,863,428 shares. The stock had previously closed at $36.72.

Several other equities research analysts also recently issued reports on EPD. Barclays raised their price target on Enterprise Products Partners from $38.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, March 5th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $40.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, February 4th. Scotiabank reissued a “sector perform” rating and set a $37.00 target price (up from $35.00) on shares of Enterprise Products Partners in a research note on Thursday, February 5th. Stifel Nicolaus raised their target price on shares of Enterprise Products Partners from $38.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Finally, TD Cowen lifted their price target on shares of Enterprise Products Partners from $33.00 to $34.00 and gave the company a “hold” rating in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $36.57.

Insider Buying and Selling at Enterprise Products Partners

In other news, Director John R. Rutherford bought 15,000 shares of the stock in a transaction that occurred on Monday, December 29th. The shares were acquired at an average cost of $32.09 per share, for a total transaction of $481,350.00. Following the completion of the acquisition, the director owned 173,586 shares in the company, valued at approximately $5,570,374.74. This represents a 9.46% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 32.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of EPD. PMV Capital Advisers LLC bought a new stake in shares of Enterprise Products Partners in the 4th quarter valued at about $25,000. Winnow Wealth LLC acquired a new stake in Enterprise Products Partners in the 2nd quarter valued at about $28,000. Traub Capital Management LLC bought a new position in Enterprise Products Partners during the second quarter worth about $31,000. Palisade Asset Management LLC acquired a new position in Enterprise Products Partners during the third quarter worth approximately $31,000. Finally, Abich Financial Wealth Management LLC acquired a new position in Enterprise Products Partners during the third quarter worth approximately $32,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 1.3%

The company has a quick ratio of 0.74, a current ratio of 1.04 and a debt-to-equity ratio of 1.07. The firm has a 50 day simple moving average of $34.59 and a 200-day simple moving average of $32.69. The stock has a market cap of $80.41 billion, a P/E ratio of 13.98, a price-to-earnings-growth ratio of 2.61 and a beta of 0.59.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Monday, February 2nd. The oil and gas producer reported $0.75 EPS for the quarter, topping the consensus estimate of $0.69 by $0.06. The company had revenue of $13.79 billion during the quarter, compared to the consensus estimate of $12.44 billion. Enterprise Products Partners had a return on equity of 19.33% and a net margin of 11.05%.The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.74 EPS. On average, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, January 30th. This represents a $2.20 annualized dividend and a yield of 5.9%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s payout ratio is 82.71%.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.