Enterprise Products Partners (NYSE:EPD) Trading 0.7% Higher – Time to Buy?

Enterprise Products Partners L.P. (NYSE:EPD) rose 0.7% during mid-day trading on Thursday . The company traded as high as $29.41 and last traded at $29.38. Approximately 642,085 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 4,320,993 shares. The stock had previously closed at $29.19.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Truist Financial raised their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $33.50.

Enterprise Products Partners Price Performance

The business has a fifty day moving average of $29.16 and a two-hundred day moving average of $28.97. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91. The firm has a market capitalization of $63.94 billion, a price-to-earnings ratio of 11.24, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.02). The company had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. Enterprise Products Partners’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.57 earnings per share. As a group, research analysts predict that Enterprise Products Partners L.P. will post 2.71 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.525 per share. The ex-dividend date is Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 7.13%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.15%.

Hedge Funds Weigh In On Enterprise Products Partners

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hantz Financial Services Inc. acquired a new position in Enterprise Products Partners in the 2nd quarter valued at $25,000. Stephens Consulting LLC acquired a new position in shares of Enterprise Products Partners in the first quarter valued at about $29,000. Palisade Asset Management LLC bought a new position in Enterprise Products Partners during the first quarter worth about $29,000. Mascoma Wealth Management LLC acquired a new stake in Enterprise Products Partners in the 2nd quarter worth about $29,000. Finally, MFA Wealth Advisors LLC bought a new stake in Enterprise Products Partners in the 2nd quarter valued at about $37,000. 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.