Enterprise Products Partners (NYSE:EPD) Hits New 1-Year High at $29.62

Enterprise Products Partners L.P. (NYSE:EPDGet Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $29.62 and last traded at $29.62, with a volume of 652528 shares changing hands. The stock had previously closed at $29.37.

Analysts Set New Price Targets

Several analysts recently issued reports on EPD shares. 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 report on Tuesday, February 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 price target on shares of Enterprise Products Partners in a report on Tuesday, February 13th. StockNews.com upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. 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, March 26th. Finally, Mizuho raised their target price on Enterprise Products Partners from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Enterprise Products Partners has an average rating of “Buy” and an average target price of $32.55.

Check Out Our Latest Stock Analysis on Enterprise Products Partners

Enterprise Products Partners Stock Up 1.3 %

The firm has a market capitalization of $64.48 billion, a price-to-earnings ratio of 11.65 and a beta of 1.02. The stock has a 50 day moving average of $27.71 and a 200 day moving average of $27.08. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95.

Enterprise Products Partners (NYSE:EPDGet Free Report) last posted its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. The business 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 company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the firm earned $0.65 earnings per share. As a group, analysts expect that Enterprise Products Partners L.P. will post 2.64 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st were issued a $0.515 dividend. The ex-dividend date was Tuesday, January 30th. This represents a $2.06 dividend on an annualized basis and a yield of 6.93%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.50. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.75%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of large investors have recently bought and sold shares of EPD. Moneta Group Investment Advisors LLC lifted its holdings in Enterprise Products Partners by 104,195.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 132,364,055 shares of the oil and gas producer’s stock worth $3,192,621,000 after acquiring an additional 132,237,142 shares during the last quarter. Cowa LLC raised its holdings in shares of Enterprise Products Partners by 9,906.0% during the first quarter. Cowa LLC now owns 7,753,281 shares of the oil and gas producer’s stock valued at $2,001,000 after buying an additional 7,675,795 shares during the last quarter. Alps Advisors Inc. raised its holdings in shares of Enterprise Products Partners by 20.2% during the third quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock valued at $1,038,731,000 after buying an additional 6,369,350 shares during the last quarter. Morgan Stanley raised its holdings in shares of Enterprise Products Partners by 17.6% during the fourth quarter. Morgan Stanley now owns 20,745,030 shares of the oil and gas producer’s stock valued at $500,370,000 after buying an additional 3,102,695 shares during the last quarter. Finally, Blackstone Inc. raised its holdings in shares of Enterprise Products Partners by 12.0% during the third quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock valued at $633,174,000 after buying an additional 2,472,847 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Company Profile

(Get Free Report)

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.

Further Reading

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