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

Shares of Enterprise Products Partners L.P. (NYSE:EPD) were up 1.3% during mid-day trading on Friday after Barclays raised their price target on the stock from $35.00 to $37.00. Barclays currently has an overweight rating on the stock. Enterprise Products Partners traded as high as $33.48 and last traded at $33.40. Approximately 662,210 shares traded hands during trading, a decline of 86% from the average daily volume of 4,837,522 shares. The stock had previously closed at $32.97.

EPD has been the subject of several other reports. Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Truist Financial increased their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Morgan Stanley lifted their price objective on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a research note on Wednesday, December 18th. Finally, Scotiabank upped their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.90.

Hedge Funds Weigh In On Enterprise Products Partners

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rosenberg Matthew Hamilton grew its position in shares of Enterprise Products Partners by 364.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 656 shares during the period. Tidemark LLC increased its position in Enterprise Products Partners by 54.3% during the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock worth $28,000 after buying an additional 318 shares during the last quarter. Lee Danner & Bass Inc. bought a new stake in Enterprise Products Partners in the fourth quarter valued at approximately $29,000. Crowley Wealth Management Inc. acquired a new stake in shares of Enterprise Products Partners in the fourth quarter valued at approximately $30,000. Finally, National Bank of Canada FI increased its holdings in shares of Enterprise Products Partners by 55.4% during the 4th quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock worth $32,000 after acquiring an additional 360 shares during the last quarter. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Trading Up 1.4 %

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 business has a 50 day moving average of $33.20 and a two-hundred day moving average of $31.35. The firm has a market cap of $72.43 billion, a P/E ratio of 12.43, a PEG ratio of 1.37 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The company had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. Enterprise Products Partners’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.72 EPS. Analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.535 per share. The ex-dividend date was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.40%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is 79.55%.

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.