Enterprise Products Partners (NYSE:EPD) Sets New 1-Year High - Still a Buy?

Key Points

• Enterprise Products Partners hit a new 52-week high in Monday trading, reaching as much as $39.87 as investors continued to bid up the midstream energy name.
• Analysts are broadly neutral on the stock, with a consensus rating of “Hold” and an average price target of $39.60, though several firms recently raised targets and/or ratings.
• The company remains attractive for income investors thanks to its quarterly dividend of $0.55 per share, equal to a 5.6% annualized yield, even as its latest earnings slightly missed EPS expectations.

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report)'s share price reached 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 Ratings Changes

Several equities analysts have commented on EPD shares. JPMorgan Chase & Co. boosted their price target on shares of Enterprise Products Partners from $40.00 to $41.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 12th. Royal Bank Of Canada lifted their target price on Enterprise Products Partners from $40.00 to $42.00 and gave the company an "outperform" rating in a report on Monday, March 30th. Jefferies Financial Group boosted their target price on Enterprise Products Partners from $34.00 to $40.00 and gave the stock a "hold" rating in a research note on Tuesday, March 31st. TD Cowen restated a "hold" rating and set a $38.00 price target (up from $34.00) on shares of Enterprise Products Partners in a report on Thursday, April 16th. Finally, Wolfe Research raised Enterprise Products Partners from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 21st. Nine analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of "Hold" and an average 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 company's 50-day moving average price is $37.82 and its 200-day moving average price is $34.74. The firm has a market capitalization of $85.45 billion, a PE ratio of 14.64, a PEG ratio of 1.47 and a beta of 0.52.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing analysts' consensus estimates of $0.71 by ($0.03). The business had revenue of $14.39 billion during the quarter, compared to analyst estimates of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The firm's quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.64 earnings per share. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.92 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were paid a dividend of $0.55 per share. The ex-dividend date was Thursday, April 30th. This represents a $2.20 annualized dividend and a yield of 5.6%. Enterprise Products Partners's payout ratio is presently 81.48%.

Insider Transactions at Enterprise Products Partners

In other Enterprise Products Partners news, CEO Aj Teague purchased 2,665 shares of the stock in a transaction that occurred on Friday, March 20th. The stock was purchased at an average cost of $37.55 per share, with a total value of $100,070.75. Following the completion of the acquisition, the chief executive officer directly owned 77,576 shares of the company's stock, valued at $2,912,978.80. This trade represents a 3.56% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 32.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Brighton Jones LLC grew its holdings in shares of Enterprise Products Partners by 19.9% during the fourth 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 during the last quarter. Schnieders Capital Management LLC. boosted its position 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 during the period. Geode Capital Management LLC boosted its position in shares of Enterprise Products Partners by 6.2% in the 2nd 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 grew its stake in Enterprise Products Partners by 6.1% during the 2nd quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer's stock worth $847,000 after buying an additional 1,578 shares during the last quarter. Finally, Glenview Trust co increased its position 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 during the period. Institutional investors and hedge funds 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.

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