Enterprise Products Partners (NYSE:EPD) Trading 2% Higher – Here’s Why

Shares of Enterprise Products Partners L.P. (NYSE:EPD) traded up 2% during trading on Monday . The company traded as high as $38.18 and last traded at $37.9450. 2,834,600 shares changed hands during mid-day trading, a decline of 40% from the average session volume of 4,721,238 shares. The stock had previously closed at $37.19.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Stifel Nicolaus lifted their price objective on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Citigroup reiterated a “buy” rating and issued a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Thursday, January 22nd. TD Cowen reiterated a “hold” rating and issued a $38.00 price objective (up from $34.00) on shares of Enterprise Products Partners in a research report on Thursday, April 16th. Finally, Wall Street Zen upgraded Enterprise Products Partners from a “hold” rating to a “buy” rating in a research report on Monday, April 6th. Nine research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $39.13.

Enterprise Products Partners Price Performance

The company has a market capitalization of $82.63 billion, a price-to-earnings ratio of 14.16, a price-to-earnings-growth ratio of 1.43 and a beta of 0.52. The company has a 50-day moving average price of $37.74 and a 200-day moving average price of $34.63. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.74 and a current ratio of 0.91.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.03). The company had revenue of $14.39 billion for 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%.Enterprise Products Partners’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.64 earnings per share. On average, equities research 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 announced a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 5.8%. The ex-dividend date is Thursday, April 30th. Enterprise Products Partners’s payout ratio is presently 81.48%.

Insider Buying and Selling at Enterprise Products Partners

In other Enterprise Products Partners news, CEO Aj Teague acquired 2,665 shares of the business’s stock in a transaction dated Friday, March 20th. The shares were acquired at an average price of $37.55 per share, for a total transaction of $100,070.75. Following the acquisition, the chief executive officer directly owned 77,576 shares of the company’s stock, valued at approximately $2,912,978.80. This trade represents a 3.56% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 32.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Enterprise Products Partners

Several institutional investors have recently modified their holdings of EPD. Walker Asset Management LLC lifted its holdings in Enterprise Products Partners by 1.5% during the first quarter. Walker Asset Management LLC now owns 19,974 shares of the oil and gas producer’s stock worth $756,000 after buying an additional 296 shares during the period. Hunter Associates Investment Management LLC lifted its holdings in Enterprise Products Partners by 3.8% during the first quarter. Hunter Associates Investment Management LLC now owns 8,106 shares of the oil and gas producer’s stock worth $307,000 after buying an additional 300 shares during the period. Arete Wealth Advisors LLC lifted its holdings in Enterprise Products Partners by 1.5% during the third quarter. Arete Wealth Advisors LLC now owns 21,145 shares of the oil and gas producer’s stock worth $661,000 after buying an additional 317 shares during the period. ORG Wealth Partners LLC lifted its holdings in Enterprise Products Partners by 0.5% during the fourth quarter. ORG Wealth Partners LLC now owns 66,266 shares of the oil and gas producer’s stock worth $2,125,000 after buying an additional 317 shares during the period. Finally, Mission Wealth Management LP lifted its holdings in Enterprise Products Partners by 1.0% during the fourth quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer’s stock worth $1,037,000 after buying an additional 328 shares during the period. 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.