Enterprise Products Partners (NYSE:EPD) Stock Price Up 0.5% – Still a Buy?

Enterprise Products Partners L.P. (NYSE:EPD) shares rose 0.5% during mid-day trading on Tuesday . The stock traded as high as $33.31 and last traded at $33.27. Approximately 1,699,634 shares traded hands during trading, a decline of 64% from the average daily volume of 4,766,461 shares. The stock had previously closed at $33.12.

Analyst Ratings Changes

Several research analysts have recently weighed in on EPD shares. Scotiabank started coverage on Enterprise Products Partners in a report on Friday, January 10th. They set a “sector perform” rating and a $33.00 target price on the stock. Wells Fargo & Company lowered Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a research note on Wednesday, December 18th. Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Bank of America assumed coverage on Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target on the stock. Finally, Truist Financial upped their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $34.70.

Enterprise Products Partners Price Performance

The company’s 50 day simple moving average is $32.48 and its 200 day simple moving average is $30.68. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $71.63 billion, a PE ratio of 12.29, a PEG ratio of 1.54 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the previous year, the business earned $0.72 EPS. The firm’s revenue was down 2.9% on a year-over-year basis. On average, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.87 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.48%. The ex-dividend date is Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is 79.55%.

Institutional Trading of Enterprise Products Partners

A number of institutional investors and hedge funds have recently made changes to their positions in EPD. Pathway Financial Advisers LLC increased its holdings in Enterprise Products Partners by 2,862.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock worth $225,777,000 after purchasing an additional 7,494,224 shares during the last quarter. Kayne Anderson Capital Advisors LP raised its stake in shares of Enterprise Products Partners by 16.7% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock valued at $426,125,000 after purchasing an additional 1,947,017 shares in the last quarter. Barclays PLC lifted its position in Enterprise Products Partners by 110.0% in the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock worth $73,699,000 after purchasing an additional 1,326,010 shares during the period. International Assets Investment Management LLC grew its holdings in Enterprise Products Partners by 2,854.1% during the third quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock worth $37,474,000 after acquiring an additional 1,243,741 shares during the period. Finally, FMR LLC raised its holdings in shares of Enterprise Products Partners by 9.3% in the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after purchasing an additional 1,225,988 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

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.