Enterprise Products Partners (NYSE:EPD) Trading 1.7% Higher – Still a Buy?

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price shot up 1.7% during mid-day trading on Wednesday . The company traded as high as $33.42 and last traded at $33.41. 820,444 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 4,285,468 shares. The stock had previously closed at $32.86.

Analyst Ratings Changes

EPD has been the subject of a number of research analyst reports. Truist Financial upped their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Royal Bank of Canada restated an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Finally, 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 objective on the stock. 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. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $34.00.

Enterprise Products Partners Stock Up 2.4 %

The stock has a 50-day simple moving average of $29.84 and a 200-day simple moving average of $29.25. 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 company has a market cap of $72.94 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 1.67 and a beta of 1.04.

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 for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The company had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same period in the prior year, the company posted $0.60 earnings per share. The company’s revenue was up 14.8% on a year-over-year basis. As a group, analysts predict that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 6.24%. Enterprise Products Partners’s dividend payout ratio (DPR) is 78.65%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EPD. Pathway Financial Advisers LLC boosted its stake in shares of 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 acquiring an additional 7,494,224 shares in the last quarter. Barclays PLC raised its holdings in shares of Enterprise Products Partners by 110.0% during the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock valued at $73,699,000 after acquiring an additional 1,326,010 shares during the period. International Assets Investment Management LLC boosted its stake in Enterprise Products Partners by 2,854.1% in the 3rd 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 purchasing an additional 1,243,741 shares during the period. FMR LLC boosted its position in shares of Enterprise Products Partners by 9.3% in the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after buying an additional 1,225,988 shares during the period. Finally, Merewether Investment Management LP purchased a new position in Enterprise Products Partners during the 3rd quarter valued at about $30,746,000. 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.