Enterprise Products Partners (NYSE:EPD) Trading Up 0.2% Following Analyst Upgrade

Enterprise Products Partners L.P. (NYSE:EPD) shares traded up 0.2% during trading on Thursday 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 $29.22 and last traded at $29.11. 555,779 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 4,852,035 shares. The stock had previously closed at $29.05.

Several other equities research analysts also recently weighed in on EPD. Barclays upped their price objective on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday. Truist Financial increased their price objective on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Stifel Nicolaus boosted their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 price target on shares of Enterprise Products Partners in a research note on Tuesday, February 13th. Finally, Wells Fargo & Company upped their price objective on Enterprise Products Partners from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $32.55.

Hedge Funds Weigh In On Enterprise Products Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fairfield Bush & CO. acquired a new stake in shares of Enterprise Products Partners in the second quarter worth $26,000. Pacific Center for Financial Services acquired a new stake in Enterprise Products Partners during the 1st quarter worth about $27,000. Burkett Financial Services LLC purchased a new position in Enterprise Products Partners during the 4th quarter valued at about $28,000. Intrepid Capital Management Inc. purchased a new stake in shares of Enterprise Products Partners in the second quarter worth approximately $35,000. Finally, Financial Freedom LLC purchased a new position in Enterprise Products Partners during the fourth quarter valued at approximately $38,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Trading Up 0.2 %

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 stock has a market cap of $63.10 billion, a price-to-earnings ratio of 11.55 and a beta of 1.02. The company’s 50 day simple moving average is $27.51 and its two-hundred day simple moving average is $27.01.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The business had revenue of $14.62 billion during the quarter, compared to analysts’ expectations of $12.43 billion. During the same quarter in the previous year, the business posted $0.65 EPS. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. Research analysts expect that Enterprise Products Partners L.P. will post 2.64 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st were paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.08%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, January 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 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.