Enterprise Products Partners (NYSE:EPD) Stock Price Up 0.2% After Analyst Upgrade

Shares of Enterprise Products Partners L.P. (NYSE:EPD) rose 0.2% on Wednesday after Mizuho raised their price target on the stock from $33.00 to $34.00. Mizuho currently has a buy rating on the stock. Enterprise Products Partners traded as high as $29.25 and last traded at $29.12. Approximately 797,666 shares traded hands during trading, a decline of 84% from the average daily volume of 4,867,561 shares. The stock had previously closed at $29.06.

Several other research analysts have also recently weighed in on the company. Barclays raised their target price on Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday. Stifel Nicolaus increased their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. StockNews.com upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 9th. Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 price target on shares of Enterprise Products Partners in a research report on Tuesday, February 13th. Finally, Wells Fargo & Company increased their price target on Enterprise Products Partners from $31.00 to $32.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Buy” and a consensus price target of $32.55.

Institutional Investors Weigh In On Enterprise Products Partners

Several hedge funds have recently bought and sold shares of the business. Newbridge Financial Services Group Inc. lifted its stake in Enterprise Products Partners by 59.8% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 10,135 shares of the oil and gas producer’s stock worth $267,000 after acquiring an additional 3,792 shares in the last quarter. Fairman Group LLC purchased a new stake in shares of Enterprise Products Partners during the 4th quarter worth about $426,000. Livelsberger Financial Advisory purchased a new stake in shares of Enterprise Products Partners during the 4th quarter worth about $49,000. Addis & Hill Inc purchased a new stake in shares of Enterprise Products Partners during the 4th quarter worth about $674,000. Finally, Hennessy Advisors Inc. raised its stake in shares of Enterprise Products Partners by 20.3% during the 4th quarter. Hennessy Advisors Inc. now owns 266,400 shares of the oil and gas producer’s stock worth $7,020,000 after purchasing an additional 45,000 shares in the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Price Performance

The stock has a 50 day moving average price of $27.56 and a two-hundred day moving average price of $27.03. 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 $63.27 billion, a PE ratio of 11.61 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. The company had revenue of $14.62 billion during the quarter, compared to the consensus estimate of $12.43 billion. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the business earned $0.65 EPS. Equities analysts forecast that Enterprise Products Partners L.P. will post 2.64 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st were issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 7.06%. The ex-dividend date was Tuesday, January 30th. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.50. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.75%.

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.