Enterprise Products Partners (NYSE:EPD) Trading Up 1.8% Following Analyst Upgrade

Key Points

• Shares rose about 1.8% after Truist raised its price target to $40 (maintaining a hold); the stock traded up to $39.01 on ~5.36M shares and carries a MarketBeat consensus target of $38.93 with an average rating of Moderate Buy.
• CEO Aj Teague purchased 2,665 shares at roughly $37.55, increasing his stake by 3.56%; insiders own 32.6% of the company while institutions including Auto Owners, Goldman Sachs and Barclays notably boosted positions.
• Enterprise reported Q earnings of $0.68 EPS (missed by $0.03) but revenue beat at $14.39B, and announced a quarterly dividend of $0.55 — a 5.7% yield (ex-dividend Apr 30, payable May 14).

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) shares rose 1.8% on Monday after Truist Financial raised their price target on the stock from $36.00 to $40.00. Truist Financial currently has a hold rating on the stock. Enterprise Products Partners traded as high as $39.01 and last traded at $38.71. Approximately 5,356,059 shares were traded during mid-day trading, an increase of 12% from the average daily volume of 4,764,428 shares. The stock had previously closed at $38.03.

Several other equities analysts also recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Enterprise Products Partners from $35.00 to $39.00 and gave the company a "neutral" rating in a report on Tuesday, March 10th. Morgan Stanley reissued an "underweight" rating and issued a $42.00 price objective on shares of Enterprise Products Partners in a research note on Tuesday, April 14th. Scotiabank boosted their target price on Enterprise Products Partners from $37.00 to $39.00 and gave the company a "sector perform" rating in a research report on Tuesday, March 17th. Raymond James Financial downgraded Enterprise Products Partners from a "strong-buy" rating to an "outperform" rating and set a $36.00 price target on the stock. in a report on Monday, January 5th. Finally, Stifel Nicolaus raised their price target on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $38.93.

Insider Transactions at Enterprise Products Partners

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Auto Owners Insurance Co boosted its position in Enterprise Products Partners by 3,106.0% during the fourth quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer's stock valued at $102,784,000 after purchasing an additional 31,060,000 shares in the last quarter. CIBC Bancorp USA Inc. bought a new position in Enterprise Products Partners in the third quarter worth about $292,194,000. Goldman Sachs Group Inc. lifted its position in shares of Enterprise Products Partners by 12.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer's stock valued at $582,317,000 after buying an additional 1,940,583 shares during the last quarter. Corient Private Wealth LLC lifted its position in shares of Enterprise Products Partners by 119.4% during the second quarter. Corient Private Wealth LLC now owns 2,414,035 shares of the oil and gas producer's stock valued at $74,859,000 after buying an additional 1,313,976 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of Enterprise Products Partners by 57.5% in the 4th quarter. Barclays PLC now owns 2,928,068 shares of the oil and gas producer's stock valued at $93,874,000 after buying an additional 1,069,304 shares in the last quarter. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Performance

The business's 50-day moving average price is $37.51 and its 200-day moving average price is $34.27. The company has a current ratio of 1.04, a quick ratio of 0.74 and a debt-to-equity ratio of 1.07. The stock has a market cap of $83.68 billion, a PE ratio of 14.34, a P/E/G ratio of 1.44 and a beta of 0.52.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its earnings results on Tuesday, April 28th. The oil and gas producer reported $0.68 EPS for the quarter, missing analysts' consensus estimates of $0.71 by ($0.03). The firm had revenue of $14.39 billion for the quarter, compared to analysts' expectations of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.56%. The company's revenue was down 6.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.64 EPS. As a group, equities research analysts expect that Enterprise Products Partners L.P. will post 2.89 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 5.7%. The ex-dividend date is Thursday, April 30th. Enterprise Products Partners's dividend payout ratio is currently 81.48%.

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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