Enterprise Products Partners (NYSE:EPD) Shares Up 0.3% – Time to Buy?

Enterprise Products Partners L.P. (NYSE:EPD)’s share price rose 0.3% during trading on Tuesday . The stock traded as high as $30.67 and last traded at $30.66. Approximately 607,007 shares traded hands during trading, a decline of 86% from the average daily volume of 4,287,561 shares. The stock had previously closed at $30.57.

Analysts Set New Price Targets

EPD has been the topic of several research reports. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Truist Financial increased their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Bank of America assumed coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target on the stock. StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $34.00.

Enterprise Products Partners Price Performance

The company has a fifty day moving average price of $29.36 and a two-hundred day moving average price of $29.02. The firm has a market capitalization of $66.80 billion, a PE ratio of 11.48, a P/E/G ratio of 1.57 and a beta of 1.04. The company has a current ratio of 1.07, a quick ratio of 0.68 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same quarter last year, the firm earned $0.60 EPS. The business’s revenue was up 14.8% on a year-over-year basis. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be given a $0.525 dividend. The ex-dividend date is Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 6.81%. Enterprise Products Partners’s dividend payout ratio is presently 78.65%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of institutional investors and hedge funds have recently bought and sold shares of EPD. Hantz Financial Services Inc. acquired a new stake in Enterprise Products Partners during the second quarter worth approximately $25,000. Mascoma Wealth Management LLC purchased a new stake in shares of Enterprise Products Partners in the second quarter valued at $29,000. DiNuzzo Private Wealth Inc. increased its stake in Enterprise Products Partners by 1,000.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 1,000 shares during the last quarter. Assetmark Inc. lifted its position in Enterprise Products Partners by 19,800.0% during the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after buying an additional 1,188 shares during the period. Finally, Sanctuary Wealth Management L.L.C. acquired a new stake in Enterprise Products Partners in the 3rd quarter worth about $36,000. Hedge funds and other institutional investors 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.