Enterprise Products Partners (NYSE:EPD) Hits New 52-Week High – Here’s What Happened

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $32.91 and last traded at $32.91, with a volume of 20444 shares traded. The stock had previously closed at $32.82.

Analyst Upgrades and Downgrades

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

Enterprise Products Partners Trading Up 1.1 %

The firm has a market capitalization of $71.92 billion, a price-to-earnings ratio of 12.29, a price-to-earnings-growth ratio of 1.69 and a beta of 1.04. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The business’s fifty day moving average is $29.72 and its 200 day moving average is $29.20.

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

Enterprise Products Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were issued a $0.525 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.33%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 78.65%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in EPD. O Shaughnessy Asset Management LLC grew its stake in Enterprise Products Partners by 19.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock valued at $685,000 after purchasing an additional 3,770 shares in the last quarter. Silvercrest Asset Management Group LLC increased its holdings in Enterprise Products Partners by 1.3% during the first quarter. Silvercrest Asset Management Group LLC now owns 205,140 shares of the oil and gas producer’s stock worth $5,986,000 after buying an additional 2,679 shares during the last quarter. Waverly Advisors LLC raised its position in Enterprise Products Partners by 45.6% during the first quarter. Waverly Advisors LLC now owns 108,441 shares of the oil and gas producer’s stock worth $3,164,000 after acquiring an additional 33,986 shares in the last quarter. Invenomic Capital Management LP acquired a new stake in Enterprise Products Partners in the first quarter valued at $8,327,000. Finally, Icon Wealth Advisors LLC grew its position in shares of Enterprise Products Partners by 23.5% in the 1st quarter. Icon Wealth Advisors LLC now owns 544,921 shares of the oil and gas producer’s stock valued at $15,901,000 after acquiring an additional 103,810 shares during the period. Institutional investors and hedge funds 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.