Enterprise Products Partners (NYSE:EPD) Trading 0.3% Higher – Should You Buy?

Enterprise Products Partners L.P. (NYSE:EPD)’s share price traded up 0.3% during mid-day trading on Thursday . The company traded as high as $33.29 and last traded at $33.08. 624,218 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 4,836,748 shares. The stock had previously closed at $32.98.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on EPD shares. Morgan Stanley raised their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday. Wells Fargo & Company downgraded shares of 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 downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Scotiabank raised their target price on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research note on Thursday, March 6th. Finally, Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $35.90.

Enterprise Products Partners Price Performance

The business has a 50 day moving average of $33.23 and a 200 day moving average of $31.38. The company has a market cap of $72.63 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $14.07 billion. During the same quarter last year, the firm posted $0.72 earnings per share. The firm’s revenue was down 2.9% on a year-over-year basis. As a group, research analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.535 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.38%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 79.55%.

Institutional Trading of Enterprise Products Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rosenberg Matthew Hamilton lifted its position in Enterprise Products Partners by 364.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 656 shares during the period. Tidemark LLC lifted its position in Enterprise Products Partners by 54.3% during the fourth 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 during the period. Lee Danner & Bass Inc. purchased a new position in Enterprise Products Partners during the fourth quarter valued at $29,000. Crowley Wealth Management Inc. purchased a new position in Enterprise Products Partners during the fourth quarter valued at $30,000. Finally, National Bank of Canada FI lifted its position 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 valued at $32,000 after buying an additional 360 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

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.