Enterprise Products Partners (NYSE:EPD) Trading 0.6% Higher

Enterprise Products Partners L.P. (NYSE:EPD) shares traded up 0.6% during mid-day trading on Friday . The company traded as high as $30.04 and last traded at $30.00. 728,622 shares were traded during mid-day trading, a decline of 83% from the average session volume of 4,367,123 shares. The stock had previously closed at $29.83.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on EPD shares. StockNews.com upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 4th. Barclays boosted 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 note on Tuesday, March 26th. Mizuho reissued a “buy” rating and set a $34.00 price target on shares of Enterprise Products Partners in a report on Thursday, April 4th. Wells Fargo & Company upped their price objective on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Finally, Morgan Stanley cut their target price on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Monday, June 10th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Enterprise Products Partners currently has an average rating of “Buy” and an average price target of $32.77.

Enterprise Products Partners Price Performance

The stock has a 50-day simple moving average of $28.73 and a 200 day simple moving average of $28.18. The stock has a market capitalization of $65.10 billion, a P/E ratio of 11.76, a price-to-earnings-growth ratio of 1.39 and a beta of 1.04. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.68 and a current ratio of 0.93.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.02. The business had revenue of $14.76 billion for the quarter, compared to analysts’ expectations of $13.82 billion. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. The firm’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.64 earnings per share. On average, equities analysts forecast that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st will be given a dividend of $0.525 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date is Wednesday, July 31st. This represents a $2.10 annualized dividend and a dividend yield of 7.00%. Enterprise Products Partners’s payout ratio is currently 80.78%.

Institutional Trading of Enterprise Products Partners

Several institutional investors and hedge funds have recently made changes to their positions in the business. JRM Investment Counsel LLC boosted its stake in Enterprise Products Partners by 2.1% during the 4th quarter. JRM Investment Counsel LLC now owns 505,364 shares of the oil and gas producer’s stock worth $13,316,000 after acquiring an additional 10,404 shares during the last quarter. Linscomb & Williams Inc. grew its holdings in shares of Enterprise Products Partners by 16.6% in the 4th quarter. Linscomb & Williams Inc. now owns 204,907 shares of the oil and gas producer’s stock valued at $5,399,000 after buying an additional 29,112 shares during the period. Cerity Partners LLC increased its position in shares of Enterprise Products Partners by 89.9% in the 4th quarter. Cerity Partners LLC now owns 289,549 shares of the oil and gas producer’s stock valued at $7,630,000 after buying an additional 137,044 shares in the last quarter. Natixis Advisors L.P. acquired a new stake in Enterprise Products Partners during the 4th quarter worth $314,000. Finally, Sapient Capital LLC bought a new position in Enterprise Products Partners during the fourth quarter worth about $3,271,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Company Profile

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.