Enterprise Products Partners (NYSE:EPD) Stock Price Up 1% – Time to Buy?

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price rose 1% during trading on Wednesday . The company traded as high as $31.49 and last traded at $31.23. Approximately 728,279 shares traded hands during trading, a decline of 86% from the average daily volume of 5,237,505 shares. The stock had previously closed at $30.93.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research note on Wednesday, December 18th. Morgan Stanley upped their price objective on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 11th. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Barclays raised their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $37.00 target price on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Enterprise Products Partners has an average rating of “Moderate Buy” and a consensus price target of $36.89.

Enterprise Products Partners Price Performance

The stock has a market capitalization of $66.79 billion, a price-to-earnings ratio of 11.46, a P/E/G ratio of 1.37 and a beta of 0.78. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The company’s 50-day simple moving average is $32.75 and its 200-day simple moving average is $31.86.

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

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be given a dividend of $0.535 per share. The ex-dividend date is Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.94%. Enterprise Products Partners’s payout ratio is presently 79.55%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in EPD. Rosenberg Matthew Hamilton raised its holdings in Enterprise Products Partners by 364.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 656 shares in the last quarter. Tidemark LLC raised its position in shares of Enterprise Products Partners by 54.3% in the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 318 shares in the last quarter. Lee Danner & Bass Inc. bought a new stake in shares of Enterprise Products Partners during the 4th quarter worth approximately $29,000. Crowley Wealth Management Inc. bought a new position in Enterprise Products Partners in the fourth quarter valued at approximately $30,000. Finally, National Bank of Canada FI lifted its stake in Enterprise Products Partners by 55.4% during the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 360 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

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.