Enterprise Products Partners (NYSE:EPD) Reaches New 12-Month High - What's Next?

Key Points

• Reached a new 52-week high — shares traded up to $38.22 (last $38.01) on volume ~1,914,028 shares during mid-day trading.
• Quarterly results beat expectations with $0.75 EPS vs. $0.69 expected and revenue of $13.79 billion versus $12.44 billion consensus; analysts forecast ~2.9 EPS for the fiscal year.
• The partnership pays a raised quarterly dividend of $0.55 (annualized $2.20) for a 5.9% yield

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $38.22 and last traded at $38.01, with a volume of 1914028 shares. The stock had previously closed at $37.57.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on EPD shares. Wells Fargo & Company raised their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an "equal weight" rating in a research note on Thursday, February 5th. Jefferies Financial Group restated a "hold" rating and set a $34.00 price target on shares of Enterprise Products Partners in a report on Wednesday, February 4th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $40.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, February 4th. Scotiabank reiterated a "sector perform" rating and issued a $37.00 price objective (up from $35.00) on shares of Enterprise Products Partners in a research note on Thursday, February 5th. Finally, Raymond James Financial downgraded Enterprise Products Partners from a "strong-buy" rating to an "outperform" rating and set a $36.00 target price for the company. in a research note on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Enterprise Products Partners currently has a consensus rating of "Hold" and an average target price of $36.29.

Enterprise Products Partners Trading Down 0.1%

The business has a 50-day moving average of $34.29 and a two-hundred day moving average of $32.58. The company has a quick ratio of 0.74, a current ratio of 1.04 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $81.15 billion, a price-to-earnings ratio of 14.11, a P/E/G ratio of 2.67 and a beta of 0.59.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings data on Monday, February 2nd. The oil and gas producer reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.69 by $0.06. The company had revenue of $13.79 billion during the quarter, compared to the consensus estimate of $12.44 billion. Enterprise Products Partners had a return on equity of 19.33% and a net margin of 11.05%.The company's quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the company earned $0.74 EPS. Research analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were paid a $0.55 dividend. The ex-dividend date was Friday, January 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.9%. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.55. Enterprise Products Partners's dividend payout ratio is currently 82.71%.

Insider Activity at Enterprise Products Partners

In other Enterprise Products Partners news, Director John R. Rutherford bought 15,000 shares of the stock in a transaction that occurred on Monday, December 29th. The shares were acquired at an average price of $32.09 per share, with a total value of $481,350.00. Following the completion of the purchase, the director directly owned 173,586 shares in the company, valued at $5,570,374.74. The trade was a 9.46% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 32.60% of the company's stock.

Institutional Investors Weigh In On Enterprise Products Partners

A number of institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its stake in shares of Enterprise Products Partners by 19.9% in the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer's stock worth $1,023,000 after acquiring an additional 5,425 shares during the last quarter. Schnieders Capital Management LLC. boosted its position in shares of Enterprise Products Partners by 9.3% during the second quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer's stock worth $1,827,000 after purchasing an additional 5,000 shares in the last quarter. Atlantic Union Bankshares Corp bought a new position in Enterprise Products Partners during the second quarter worth about $634,000. Modera Wealth Management LLC grew its position in shares of Enterprise Products Partners by 10.0% in the 2nd quarter. Modera Wealth Management LLC now owns 19,422 shares of the oil and gas producer's stock valued at $602,000 after purchasing an additional 1,767 shares during the period. Finally, Paradigm Asset Management Co. LLC acquired a new position in shares of Enterprise Products Partners in the second quarter valued at approximately $291,000. 26.07% of the stock is owned by institutional investors and hedge funds.

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.

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