Enterprise Products Partners L.P. Sees Large Volume Increase Following Analyst Upgrade (EPD)
Enterprise Products Partners L.P. (NYSE:EPD) shares saw an uptick in trading volume on Friday after Stifel Nicolaus raised their price target on the stock from $78.00 to $80.00, Analyst Ratings Network.com reports. 1,816,070 shares traded hands during trading, an increase of 86% from the previous session’s volume of 976,486 shares.The stock last traded at $73.35 and had previously closed at $74.60.
EPD has been the subject of a number of other recent research reports. Analysts at RBC Capital raised their price target on shares of Enterprise Products Partners L.P. from $80.00 to $82.00 in a research note on Friday. Separately, analysts at Credit Suisse raised their price target on shares of Enterprise Products Partners L.P. from $80.00 to $85.00 in a research note on Friday. Finally, analysts at Barclays reiterated an “overweight” rating on shares of Enterprise Products Partners L.P. in a research note on Friday. They now have a $81.00 price target on the stock, up previously from $80.00. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $82.09.
The stock’s 50-day moving average is $77.02 and its 200-day moving average is $71.65. The company has a market cap of $68.515 billion and a P/E ratio of 26.23. Enterprise Products Partners L.P.’s stock is going to split before the market opens on Friday, August 22nd. The 2-1 split was announced on Tuesday, July 15th. The newly minted shares will be payable to shareholders after the market closes on Thursday, August 21st.
Enterprise Products Partners L.P. (NYSE:EPD) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by $0.06. The company had revenue of $12.52 billion for the quarter, compared to the consensus estimate of $12.88 billion. During the same quarter in the previous year, the company posted $0.65 earnings per share. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. Analysts expect that Enterprise Products Partners L.P. will post $3.14 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 7th. Stockholders of record on Thursday, July 31st will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend is Tuesday, July 29th. This is a boost from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.71.
Enterprise Products Partners L.P. (NYSE:EPD) owns and operates natural gas liquids (NGLs) related businesses of Enterprise Products Company (EPCO).
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