Enterprise Products Partners (NYSE:EPD) Stock Price Up 2% - What's Next?

Key Points

• Enterprise Products Partners shares rose 2% on Monday, closing near $37.95 after trading as high as $38.18. Volume was lighter than usual, with about 2.83 million shares changing hands versus a 4.72 million average.
• Analysts remain mixed on the stock, though several recently raised targets: Citigroup set a $44 price target and Wells Fargo upgraded the shares to overweight. The stock currently carries an average rating of Hold with a consensus target of $38.93.
• The company reported Q1 earnings of $0.68 per share, missing estimates but posting revenue of $14.39 billion, above expectations. Enterprise also declared a quarterly dividend of $0.55 per share, equal to an annualized yield of 5.8%.

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report)'s stock price rose 2% during trading on Monday . The stock traded as high as $38.18 and last traded at $37.9450. Approximately 2,834,600 shares were traded during trading, a decline of 40% from the average daily volume of 4,721,238 shares. The stock had previously closed at $37.19.

Analyst Upgrades and Downgrades

EPD has been the topic of several analyst reports. Citigroup reissued a "buy" rating and set a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. Wells Fargo & Company upgraded shares of Enterprise Products Partners from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $40.00 to $42.00 in a research note on Wednesday, March 25th. Royal Bank Of Canada boosted their price objective on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the stock an "outperform" rating in a research note on Monday, March 30th. Jefferies Financial Group boosted their price objective on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the stock a "hold" rating in a research note on Tuesday, March 31st. Finally, Morgan Stanley restated an "underweight" rating and set a $42.00 price objective on shares of Enterprise Products Partners in a research note on Tuesday, April 14th. Nine research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $38.93.

Enterprise Products Partners Stock Performance

The firm has a market cap of $82.03 billion, a price-to-earnings ratio of 14.05, a price-to-earnings-growth ratio of 1.40 and a beta of 0.52. The stock's 50 day moving average is $37.61 and its 200 day moving average is $34.43. The company has a current ratio of 1.04, a quick ratio of 0.74 and a debt-to-equity ratio of 1.07.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced 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). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.56%. The company had revenue of $14.39 billion during the quarter, compared to analyst estimates of $13.62 billion. During the same quarter last year, the company posted $0.64 EPS. The firm's quarterly revenue was down 6.7% on a year-over-year basis. Analysts anticipate that Enterprise Products Partners L.P. will post 2.92 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 14th. Investors of record on Thursday, April 30th will be paid a $0.55 dividend. The ex-dividend date is Thursday, April 30th. This represents a $2.20 dividend on an annualized basis and a yield of 5.8%. Enterprise Products Partners's dividend payout ratio is 81.48%.

Insider Buying and Selling

In related news, CEO Aj Teague purchased 2,665 shares of the firm's stock in a transaction that occurred on Friday, March 20th. The shares were acquired at an average price of $37.55 per share, for a total transaction of $100,070.75. Following the purchase, the chief executive officer owned 77,576 shares in the company, valued at approximately $2,912,978.80. This represents a 3.56% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 32.60% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of EPD. Walker Asset Management LLC boosted its holdings in Enterprise Products Partners by 1.5% in the 1st quarter. Walker Asset Management LLC now owns 19,974 shares of the oil and gas producer's stock valued at $756,000 after purchasing an additional 296 shares during the period. Hunter Associates Investment Management LLC boosted its holdings in Enterprise Products Partners by 3.8% in the 1st quarter. Hunter Associates Investment Management LLC now owns 8,106 shares of the oil and gas producer's stock valued at $307,000 after purchasing an additional 300 shares during the period. Arete Wealth Advisors LLC boosted its holdings in Enterprise Products Partners by 1.5% in the 3rd quarter. Arete Wealth Advisors LLC now owns 21,145 shares of the oil and gas producer's stock valued at $661,000 after purchasing an additional 317 shares during the period. ORG Wealth Partners LLC boosted its holdings in Enterprise Products Partners by 0.5% in the 4th quarter. ORG Wealth Partners LLC now owns 66,266 shares of the oil and gas producer's stock valued at $2,125,000 after purchasing an additional 317 shares during the period. Finally, Mission Wealth Management LP boosted its holdings in Enterprise Products Partners by 1.0% in the 4th quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer's stock valued at $1,037,000 after purchasing an additional 328 shares during the period. Institutional investors and hedge funds own 26.07% of the company's stock.

Enterprise Products Partners Company Profile

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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