Enterprise Products Partners L.P. (NYSE:EPD) shares rose 5.1% during trading on Wednesday . The stock traded as high as $24.70 and last traded at $24.70. Approximately 10,480,646 shares were traded during mid-day trading, an increase of 98% from the average daily volume of 5,281,196 shares. The stock had previously closed at $23.51.
EPD has been the subject of several recent research reports. Bank of America set a $35.00 price target on Enterprise Products Partners and gave the stock a “buy” rating in a research report on Thursday, November 1st. Wells Fargo & Co upped their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, October 8th. Barclays set a $33.00 target price on Enterprise Products Partners and gave the company a “buy” rating in a research report on Friday, October 12th. Citigroup reduced their target price on Enterprise Products Partners from $32.00 to $31.00 and set a “buy” rating on the stock in a research report on Thursday, November 29th. Finally, Zacks Investment Research raised Enterprise Products Partners from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Thursday, September 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $32.75.
The company has a quick ratio of 0.49, a current ratio of 0.70 and a debt-to-equity ratio of 0.96. The firm has a market cap of $50.81 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 4.19 and a beta of 0.88.
Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Wednesday, October 31st. The oil and gas producer reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.15. Enterprise Products Partners had a return on equity of 16.28% and a net margin of 10.23%. The firm had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.72 billion. During the same quarter in the prior year, the business earned $0.28 earnings per share. The company’s revenue was up 39.2% compared to the same quarter last year. Research analysts anticipate that Enterprise Products Partners L.P. will post 1.87 EPS for the current fiscal year.
In other Enterprise Products Partners news, CEO Aj Teague purchased 10,000 shares of the stock in a transaction on Thursday, December 20th. The shares were bought at an average price of $24.61 per share, for a total transaction of $246,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James T. Hackett sold 25,000 shares of the stock in a transaction that occurred on Monday, November 5th. The stock was sold at an average price of $26.94, for a total value of $673,500.00. Following the transaction, the director now owns 226,832 shares in the company, valued at approximately $6,110,854.08. The disclosure for this sale can be found here. Insiders bought 35,005 shares of company stock worth $902,932 in the last 90 days. Company insiders own 37.50% of the company’s stock.
A number of hedge funds have recently modified their holdings of EPD. Bank of New York Mellon Corp boosted its position in Enterprise Products Partners by 1.4% during the second quarter. Bank of New York Mellon Corp now owns 556,318 shares of the oil and gas producer’s stock worth $15,393,000 after purchasing an additional 7,748 shares in the last quarter. GSA Capital Partners LLP boosted its position in Enterprise Products Partners by 67.3% during the second quarter. GSA Capital Partners LLP now owns 49,666 shares of the oil and gas producer’s stock worth $1,374,000 after purchasing an additional 19,984 shares in the last quarter. CIBC Asset Management Inc boosted its position in Enterprise Products Partners by 7.0% during the second quarter. CIBC Asset Management Inc now owns 76,486 shares of the oil and gas producer’s stock worth $2,116,000 after purchasing an additional 5,020 shares in the last quarter. BlackRock Inc. boosted its position in Enterprise Products Partners by 321.0% during the second quarter. BlackRock Inc. now owns 13,588,906 shares of the oil and gas producer’s stock worth $376,005,000 after purchasing an additional 10,360,904 shares in the last quarter. Finally, FMR LLC boosted its position in Enterprise Products Partners by 0.6% during the second quarter. FMR LLC now owns 11,523,060 shares of the oil and gas producer’s stock worth $318,843,000 after purchasing an additional 74,391 shares in the last quarter. Institutional investors own 37.28% of the company’s stock.
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Enterprise Products Partners Company Profile (NYSE:EPD)
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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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