Enterprise Products Partners (NYSE:EPD) Trading 2.3% Higher – Here’s Why

Shares of Enterprise Products Partners L.P. (NYSE:EPD) traded up 2.3% on Thursday . The company traded as high as $39.30 and last traded at $39.1530. 11,100,356 shares were traded during trading, an increase of 135% from the average session volume of 4,717,214 shares. The stock had previously closed at $38.29.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wells Fargo & Company raised Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $40.00 to $42.00 in a research note on Wednesday, March 25th. Stifel Nicolaus upped their price target on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Jefferies Financial Group upped their price target on Enterprise Products Partners from $34.00 to $40.00 and gave the stock a “hold” rating in a research note on Tuesday, March 31st. Royal Bank Of Canada upped their price target on Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, March 30th. Finally, Wolfe Research raised Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Nine research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $39.60.

Enterprise Products Partners Trading Up 0.0%

The stock has a market capitalization of $84.82 billion, a PE ratio of 14.53, a P/E/G ratio of 1.47 and a beta of 0.52. The firm has a 50 day moving average price of $37.82 and a 200 day moving average price of $34.72. The company has a quick ratio of 0.74, a current ratio of 0.91 and a debt-to-equity ratio of 1.03.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.03). The company had revenue of $14.39 billion during the quarter, compared to analysts’ expectations of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The business’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same period last year, the company earned $0.64 earnings per share. Equities analysts expect that Enterprise Products Partners L.P. will post 2.92 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were paid a $0.55 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $2.20 annualized dividend and a dividend yield of 5.6%. Enterprise Products Partners’s dividend payout ratio is 81.48%.

Insider Activity

In other Enterprise Products Partners news, CEO Aj Teague bought 2,665 shares of Enterprise Products Partners stock in a transaction dated Friday, March 20th. The stock was bought at an average cost of $37.55 per share, with a total value of $100,070.75. Following the completion of the acquisition, the chief executive officer directly owned 77,576 shares in the company, valued at approximately $2,912,978.80. The trade was a 3.56% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 32.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Enterprise Products Partners

Several institutional investors have recently modified their holdings of the business. Infrastructure Capital Advisors LLC grew its holdings in shares of Enterprise Products Partners by 15.5% in the first quarter. Infrastructure Capital Advisors LLC now owns 1,548,308 shares of the oil and gas producer’s stock valued at $58,588,000 after acquiring an additional 207,566 shares in the last quarter. Quantinno Capital Management LP grew its holdings in shares of Enterprise Products Partners by 60.3% in the first quarter. Quantinno Capital Management LP now owns 139,100 shares of the oil and gas producer’s stock valued at $5,264,000 after acquiring an additional 52,313 shares in the last quarter. Lazard Asset Management LLC grew its holdings in shares of Enterprise Products Partners by 14.6% in the first quarter. Lazard Asset Management LLC now owns 14,129 shares of the oil and gas producer’s stock valued at $535,000 after acquiring an additional 1,797 shares in the last quarter. Family Manage LLC grew its holdings in shares of Enterprise Products Partners by 15.6% in the first quarter. Family Manage LLC now owns 20,398 shares of the oil and gas producer’s stock valued at $772,000 after acquiring an additional 2,756 shares in the last quarter. Finally, Gateway Wealth Partners LLC bought a new position in shares of Enterprise Products Partners in the first quarter valued at approximately $409,000. 26.07% of the stock is owned by institutional investors.

About Enterprise Products Partners

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.