Enterprise Products Partners (NYSE:EPD) Trading Up 1.5% – What’s Next?

Shares of Enterprise Products Partners L.P. (NYSE:EPD) traded up 1.5% on Wednesday . The company traded as high as $31.67 and last traded at $31.49. 1,674,677 shares were traded during trading, a decline of 61% from the average session volume of 4,304,995 shares. The stock had previously closed at $31.01.

Analyst Upgrades and Downgrades

EPD has been the topic of several recent analyst reports. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a research report on Wednesday, December 18th. Bank of America started coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective for the company. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Enterprise Products Partners presently has an average rating of “Moderate Buy” and a consensus target price of $34.20.

Enterprise Products Partners Stock Performance

The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The stock has a market cap of $68.26 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08. The firm has a 50 day moving average price of $31.03 and a 200 day moving average price of $29.80.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The firm had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. During the same period in the previous year, the company posted $0.60 earnings per share. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, research analysts forecast that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a dividend of $0.525 per share. The ex-dividend date was Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 6.67%. Enterprise Products Partners’s payout ratio is currently 78.65%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Paragon Advisors LLC acquired a new stake in Enterprise Products Partners in the 3rd quarter valued at $2,628,000. FMR LLC boosted its position in Enterprise Products Partners by 9.3% during the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after acquiring an additional 1,225,988 shares during the last quarter. Peapack Gladstone Financial Corp lifted its stake in Enterprise Products Partners by 61.7% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock worth $3,954,000 after purchasing an additional 51,809 shares in the last quarter. Thrivent Financial for Lutherans grew its position in shares of Enterprise Products Partners by 5.2% in the third quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock valued at $118,561,000 after purchasing an additional 200,625 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its stake in shares of Enterprise Products Partners by 37.7% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 58,510 shares of the oil and gas producer’s stock worth $1,703,000 after acquiring an additional 16,018 shares during the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

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.