Enterprise Products Partners (NYSE:EPD) Reaches New 52-Week High – Here’s Why

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

Wall Street Analysts Forecast Growth

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

Enterprise Products Partners Price Performance

The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.68. The firm has a market capitalization of $68.06 billion, a PE ratio of 11.64, a P/E/G ratio of 1.60 and a beta of 1.04. The company has a 50-day moving average price of $29.44 and a 200-day moving average price of $29.07.

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

Enterprise Products Partners Announces Dividend

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

Institutional Trading of Enterprise Products Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EPD. Hantz Financial Services Inc. acquired a new stake in shares of Enterprise Products Partners in the second quarter worth approximately $25,000. Mascoma Wealth Management LLC purchased a new stake in shares of Enterprise Products Partners during the 2nd quarter valued at $29,000. DiNuzzo Private Wealth Inc. raised its position in shares of Enterprise Products Partners by 1,000.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock worth $32,000 after buying an additional 1,000 shares during the period. Assetmark Inc. boosted its holdings in Enterprise Products Partners by 19,800.0% in the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after acquiring an additional 1,188 shares during the last quarter. Finally, Sanctuary Wealth Management L.L.C. purchased a new stake in Enterprise Products Partners during the third quarter valued at about $36,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

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.