Enterprise Products Partners (NYSE:EPD) Shares Up 1.1% After Analyst Upgrade

Shares of Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) rose 1.1% during trading on Friday after Scotiabank raised their price target on the stock from $35.00 to $36.00. Scotiabank currently has a sector perform rating on the stock. Enterprise Products Partners traded as high as $31.39 and last traded at $31.41. Approximately 745,870 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 4,396,476 shares. The stock had previously closed at $31.06.

Several other equities research analysts have also recently weighed in on EPD. Barclays reduced their price target on Enterprise Products Partners from $37.00 to $36.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 20th. JPMorgan Chase & Co. increased their price target on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the stock an "overweight" rating in a research note on Thursday, March 27th. Morgan Stanley boosted their price objective on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 11th. Citigroup decreased their target price on shares of Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $37.00 target price on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $36.67.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Brooklyn Investment Group purchased a new stake in Enterprise Products Partners during the 1st quarter valued at $27,000. Tidemark LLC boosted its stake in shares of Enterprise Products Partners by 54.3% in the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer's stock worth $28,000 after buying an additional 318 shares during the last quarter. Wealth Preservation Advisors LLC purchased a new stake in Enterprise Products Partners during the first quarter valued at $28,000. Lee Danner & Bass Inc. purchased a new stake in Enterprise Products Partners during the fourth quarter valued at $29,000. Finally, Crowley Wealth Management Inc. bought a new position in Enterprise Products Partners in the fourth quarter valued at about $30,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Price Performance

The firm has a 50-day simple moving average of $30.99 and a 200-day simple moving average of $32.24. The firm has a market capitalization of $68.23 billion, a PE ratio of 11.70, a PEG ratio of 1.37 and a beta of 0.65. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.69 by ($0.05). The business had revenue of $15.42 billion during the quarter, compared to analysts' expectations of $14.14 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.66 EPS. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were given a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.80%. The ex-dividend date of this dividend was Wednesday, April 30th. Enterprise Products Partners's payout ratio is 80.15%.

Enterprise Products Partners Company Profile

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.