Enterprise Products Partners (NYSE:EPD) Trading 1.5% Higher - Here's What Happened

Key Points

• Enterprise Products Partners' shares rose 1.5% to $31.65, but trading volume was down by 73% compared to the average.
• Several brokers upgraded the stock's rating to "strong buy" and "buy", with a consensus price target of $36.25.
• The company has announced a quarterly dividend of $0.545, yielding 6.9%, representing an increase from the previous dividend.

Shares of Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) rose 1.5% during trading on Friday . The stock traded as high as $31.63 and last traded at $31.65. Approximately 1,298,420 shares traded hands during trading, a decline of 73% from the average daily volume of 4,745,107 shares. The stock had previously closed at $31.19.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on EPD. Argus upgraded shares of Enterprise Products Partners to a "strong-buy" rating in a research note on Monday, May 5th. Wall Street Zen raised Enterprise Products Partners from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. Scotiabank upped their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the company a "sector perform" rating in a report on Thursday, June 5th. TD Cowen assumed coverage on Enterprise Products Partners in a research report on Monday, July 7th. They issued a "hold" rating and a $33.00 target price for the company. Finally, Stifel Nicolaus reduced their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, July 29th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.25.

Enterprise Products Partners Price Performance

The firm's fifty day simple moving average is $31.36 and its two-hundred day simple moving average is $31.97. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.98. The firm has a market cap of $68.33 billion, a PE ratio of 11.72, a P/E/G ratio of 1.80 and a beta of 0.66.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). Enterprise Products Partners had a return on equity of 19.88% and a net margin of 10.71%. The business had revenue of $11.36 billion during the quarter, compared to analysts' expectations of $15.24 billion. During the same quarter in the previous year, the company posted $0.64 EPS. The company's quarterly revenue was down 15.7% on a year-over-year basis. As a group, research analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be issued a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 6.9%. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, July 31st. Enterprise Products Partners's payout ratio is presently 81.04%.

Insider Buying and Selling at Enterprise Products Partners

In related news, Director William C. Montgomery purchased 16,000 shares of Enterprise Products Partners stock in a transaction on Wednesday, July 30th. The shares were bought at an average cost of $31.55 per share, for a total transaction of $504,800.00. Following the acquisition, the director owned 136,920 shares in the company, valued at approximately $4,319,826. The trade was a 13.23% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John R. Rutherford purchased 15,000 shares of the firm's stock in a transaction on Tuesday, July 29th. The stock was bought at an average price of $31.35 per share, for a total transaction of $470,250.00. Following the purchase, the director owned 158,586 shares in the company, valued at approximately $4,971,671.10. This represents a 10.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. 32.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Brooklyn Investment Group purchased a new position in shares of Enterprise Products Partners during the first quarter valued at approximately $27,000. Wealth Preservation Advisors LLC bought a new stake in shares of Enterprise Products Partners during the first quarter valued at approximately $28,000. Crowley Wealth Management Inc. bought a new position in Enterprise Products Partners in the second quarter worth approximately $29,000. Security National Bank purchased a new position in Enterprise Products Partners during the 1st quarter worth $30,000. Finally, Alpine Bank Wealth Management bought a new stake in Enterprise Products Partners during the 1st quarter valued at $31,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

About Enterprise Products Partners

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.

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