Enterprise Products Partners (NYSE:EPD) Hits New 52-Week High – Here’s Why

Enterprise Products Partners L.P. (NYSE:EPD) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $39.87 and last traded at $39.7420, with a volume of 1770581 shares. The stock had previously closed at $39.23.

Analyst Upgrades and Downgrades

Several analysts recently commented on EPD shares. JPMorgan Chase & Co. upped their price target on shares of Enterprise Products Partners from $40.00 to $41.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. The Goldman Sachs Group restated a “neutral” rating and issued a $39.00 price objective on shares of Enterprise Products Partners in a research note on Thursday. TD Cowen reaffirmed a “hold” rating and issued a $38.00 target price (up from $34.00) on shares of Enterprise Products Partners in a report on Thursday, April 16th. UBS Group reiterated a “buy” rating on shares of Enterprise Products Partners in a research note on Wednesday, March 4th. Finally, Scotiabank reissued a “sector perform” rating and set a $40.00 price target (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. Nine investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $39.60.

Enterprise Products Partners Trading Up 0.8%

The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. The stock has a market capitalization of $85.45 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52. The business’s 50-day moving average is $37.82 and its two-hundred day moving average is $34.74.

Enterprise Products Partners (NYSE:EPD) last released its earnings results 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 firm had revenue of $14.39 billion during the quarter, compared to analyst estimates of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The firm’s revenue was down 6.7% on a year-over-year basis. During the same quarter last year, the business posted $0.64 EPS. As a group, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.92 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

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

Insider Transactions at Enterprise Products Partners

In other Enterprise Products Partners news, CEO Aj Teague bought 2,665 shares of the business’s stock in a transaction dated Friday, March 20th. The stock was acquired at an average cost of $37.55 per share, with a total value of $100,070.75. Following the purchase, the chief executive officer owned 77,576 shares in the company, valued at approximately $2,912,978.80. This represents a 3.56% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 32.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EPD. Brighton Jones LLC boosted its position in shares of Enterprise Products Partners by 19.9% during the 4th quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock worth $1,023,000 after purchasing an additional 5,425 shares in the last quarter. Schnieders Capital Management LLC. increased its holdings in shares of Enterprise Products Partners by 9.3% in the 2nd quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer’s stock valued at $1,827,000 after purchasing an additional 5,000 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Enterprise Products Partners by 6.2% in the second quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer’s stock valued at $1,975,000 after purchasing an additional 3,742 shares during the period. Guggenheim Capital LLC lifted its stake in shares of Enterprise Products Partners by 6.1% in the second quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer’s stock valued at $847,000 after purchasing an additional 1,578 shares during the period. Finally, Glenview Trust co boosted its holdings in Enterprise Products Partners by 315.8% during the second quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer’s stock worth $1,043,000 after buying an additional 25,555 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

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.