Enterprise Products Partners (NYSE:EPD) Shares Up 2.3% - What's Next?

Key Points

• Enterprise Products Partners shares rose 2.3% in midday trading, hitting as high as $39.30 on volume far above average. The move came as investors reacted to renewed attention on the midstream energy stock.
• Analyst sentiment remains mixed: several firms recently lifted price targets, but the overall consensus rating is still Hold with a $39.60 price target. Upgrades and target increases suggest some optimism, even as a few analysts remain cautious.
• The company continues to offer a high dividend yield of 5.6%, paying $0.55 per share quarterly, though its latest earnings missed EPS expectations. Enterprise also reported stronger-than-expected revenue for the quarter despite a year-over-year decline.

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report)'s stock price shot up 2.3% during mid-day trading on Thursday . The stock traded as high as $39.30 and last traded at $39.1530. 11,100,356 shares traded hands during mid-day trading, an increase of 135% from the average session volume of 4,717,214 shares. The stock had previously closed at $38.29.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Royal Bank Of Canada raised 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. Morgan Stanley restated an "underweight" rating and issued a $42.00 target price on shares of Enterprise Products Partners in a report on Tuesday, April 14th. JPMorgan Chase & Co. raised their target price on Enterprise Products Partners from $40.00 to $41.00 and gave the company a "neutral" rating in a report on Tuesday. Wall Street Zen upgraded Enterprise Products Partners from a "hold" rating to a "buy" rating in a report on Monday, April 6th. Finally, Truist Financial raised their target price on Enterprise Products Partners from $36.00 to $40.00 and gave the company a "hold" rating in a report on Monday, May 4th. Nine research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $39.60.

Enterprise Products Partners Stock Up 2.3%

The stock has a fifty day moving average price of $37.74 and a two-hundred day moving average price of $34.63. The company has a market cap of $84.64 billion, a P/E ratio of 14.50, a price-to-earnings-growth ratio of 1.43 and a beta of 0.52. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.74.

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

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 14th. Investors of record on Thursday, April 30th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date is Thursday, April 30th. Enterprise Products Partners's dividend payout ratio (DPR) is 81.48%.

Insider Buying and Selling

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

Institutional Trading of Enterprise Products Partners

Hedge funds have recently bought and sold shares of the business. Tred Avon Family Wealth LLC purchased a new stake in Enterprise Products Partners in the third quarter worth $1,015,000. Miller Howard Investments Inc. NY increased its position in Enterprise Products Partners by 1.0% in the fourth quarter. Miller Howard Investments Inc. NY now owns 3,112,119 shares of the oil and gas producer's stock worth $99,775,000 after buying an additional 31,733 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Enterprise Products Partners by 3.0% in the third quarter. PNC Financial Services Group Inc. now owns 1,252,088 shares of the oil and gas producer's stock worth $39,153,000 after buying an additional 36,339 shares during the last quarter. Advisors Asset Management Inc. increased its position in Enterprise Products Partners by 20.2% in the third quarter. Advisors Asset Management Inc. now owns 229,911 shares of the oil and gas producer's stock worth $7,189,000 after buying an additional 38,660 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Enterprise Products Partners by 70.6% in the third quarter. Victory Capital Management Inc. now owns 1,495,518 shares of the oil and gas producer's stock worth $46,765,000 after buying an additional 619,014 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

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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