Enterprise Products Partners (NYSE:EPD) Reaches New 12-Month High – What’s Next?

Enterprise Products Partners L.P. (NYSE:EPD) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $31.45 and last traded at $31.41, with a volume of 296326 shares. The stock had previously closed at $31.09.

Analysts Set New Price Targets

A number of brokerages have weighed in on EPD. Bank of America started coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Finally, Truist Financial raised their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $34.00.

Enterprise Products Partners Price Performance

The firm has a market cap of $68.06 billion, a price-to-earnings ratio of 11.64, a P/E/G ratio of 1.60 and a beta of 1.04. The business’s 50-day moving average price is $29.44 and its two-hundred day moving average price is $29.07. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.68.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The company had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same period in the previous year, the firm posted $0.60 EPS. Enterprise Products Partners’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, research analysts forecast that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 6.69%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is presently 78.65%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of institutional investors have recently made changes to their positions in the company. Curi RMB Capital LLC boosted its holdings in Enterprise Products Partners by 0.5% in the third quarter. Curi RMB Capital LLC now owns 73,828 shares of the oil and gas producer’s stock worth $2,149,000 after purchasing an additional 339 shares during the period. Zega Financial LLC boosted its holdings in shares of Enterprise Products Partners by 1.7% in the 3rd quarter. Zega Financial LLC now owns 20,870 shares of the oil and gas producer’s stock valued at $608,000 after buying an additional 344 shares during the period. Tranquility Partners LLC grew its position in shares of Enterprise Products Partners by 1.5% during the 3rd quarter. Tranquility Partners LLC now owns 23,204 shares of the oil and gas producer’s stock valued at $675,000 after buying an additional 346 shares during the last quarter. Princeton Global Asset Management LLC raised its stake in Enterprise Products Partners by 4.9% during the third quarter. Princeton Global Asset Management LLC now owns 7,510 shares of the oil and gas producer’s stock worth $219,000 after acquiring an additional 350 shares during the period. Finally, Strategic Wealth Partners Ltd. lifted its holdings in Enterprise Products Partners by 3.8% in the third quarter. Strategic Wealth Partners Ltd. now owns 9,731 shares of the oil and gas producer’s stock worth $283,000 after acquiring an additional 353 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Company Profile

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.