Enterprise Products Partners (NYSE:EPD) Sets New 12-Month High at $30.05

Enterprise Products Partners L.P. (NYSE:EPD) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $30.05 and last traded at $29.94, with a volume of 1326033 shares trading hands. The stock had previously closed at $29.98.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on EPD. JPMorgan Chase & Co. cut their price objective on shares of Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Thursday, May 16th. Morgan Stanley cut their price objective on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Monday, June 10th. StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 4th. Scotiabank increased their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 4th. Finally, Mizuho reaffirmed a “buy” rating and set a $34.00 price objective on shares of Enterprise Products Partners in a report on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $32.77.

Enterprise Products Partners Trading Down 0.4 %

The company’s fifty day moving average price is $28.83 and its two-hundred day moving average price is $28.29. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99. The firm has a market cap of $64.21 billion, a P/E ratio of 11.60, a price-to-earnings-growth ratio of 1.40 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.02. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.73%. The business had revenue of $14.76 billion for the quarter, compared to analyst estimates of $13.82 billion. During the same quarter in the prior year, the firm earned $0.64 EPS. The firm’s quarterly revenue was up 18.6% compared to the same quarter last year. As a group, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.72 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $2.10 dividend on an annualized basis and a yield of 7.10%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s dividend payout ratio is currently 80.78%.

Institutional Investors Weigh In On Enterprise Products Partners

Hedge funds have recently added to or reduced their stakes in the stock. IFG Advisory LLC boosted its stake in shares of Enterprise Products Partners by 13.7% in the 4th quarter. IFG Advisory LLC now owns 58,391 shares of the oil and gas producer’s stock valued at $1,539,000 after purchasing an additional 7,016 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its stake in shares of Enterprise Products Partners by 9.7% in the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,767,179 shares of the oil and gas producer’s stock valued at $46,565,000 after purchasing an additional 156,650 shares during the last quarter. Pettinga Financial Advisors LLC boosted its stake in shares of Enterprise Products Partners by 2.3% in the 4th quarter. Pettinga Financial Advisors LLC now owns 22,009 shares of the oil and gas producer’s stock valued at $580,000 after purchasing an additional 500 shares during the last quarter. FLC Capital Advisors boosted its stake in shares of Enterprise Products Partners by 2.5% in the 4th quarter. FLC Capital Advisors now owns 105,593 shares of the oil and gas producer’s stock valued at $2,782,000 after purchasing an additional 2,535 shares during the last quarter. Finally, Saxon Interests Inc. acquired a new stake in shares of Enterprise Products Partners in the 4th quarter valued at approximately $419,000. Institutional investors own 26.07% of the company’s stock.

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.