Enterprise Products Partners (NYSE:EPD) Sets New 12-Month High at $30.05

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $30.05 and last traded at $29.94, with a volume of 1326033 shares. The stock had previously closed at $29.98.

Wall Street Analyst Weigh In

Several brokerages recently commented on EPD. Wells Fargo & Company upped their target price on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Morgan Stanley reduced their target price on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, June 10th. Mizuho reiterated a “buy” rating and issued a $34.00 target price on shares of Enterprise Products Partners in a report on Thursday, April 4th. Scotiabank upped their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a report on Thursday, April 4th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $35.00 price target on shares of Enterprise Products Partners in a report on Friday, April 5th. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Enterprise Products Partners currently has an average rating of “Buy” and a consensus target price of $32.77.

Enterprise Products Partners Trading Down 0.4 %

The firm has a 50 day simple moving average of $28.83 and a 200 day simple moving average of $28.29. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.68 and a current ratio of 0.93. The firm has a market cap of $64.21 billion, a P/E ratio of 11.60, a P/E/G ratio of 1.40 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.02. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. The firm had revenue of $14.76 billion for the quarter, compared to analysts’ expectations of $13.82 billion. During the same quarter last year, the firm posted $0.64 EPS. The company’s revenue was up 18.6% compared to the same quarter last year. On average, equities research analysts predict that Enterprise Products Partners L.P. will post 2.72 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be issued a $0.525 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $2.10 annualized dividend and a dividend yield of 7.10%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.78%.

Institutional Trading of Enterprise Products Partners

Several institutional investors and hedge funds have recently modified their holdings of EPD. Accordant Advisory Group Inc purchased a new position in shares of Enterprise Products Partners during the 1st quarter valued at about $26,000. Burkett Financial Services LLC purchased a new position in shares of Enterprise Products Partners during the 4th quarter valued at about $28,000. Stephens Consulting LLC purchased a new position in shares of Enterprise Products Partners during the 1st quarter valued at about $29,000. Palisade Asset Management LLC purchased a new position in shares of Enterprise Products Partners during the 1st quarter valued at about $29,000. Finally, MFA Wealth Advisors LLC purchased a new position in shares of Enterprise Products Partners during the 2nd quarter valued at about $37,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

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.