Enterprise Products Partners (NYSE:EPD) Trading 1.5% Higher – Should You Buy?

Enterprise Products Partners L.P. (NYSE:EPD)’s share price was up 1.5% on Wednesday . The company traded as high as $34.02 and last traded at $33.99. Approximately 1,221,380 shares changed hands during trading, a decline of 70% from the average daily volume of 4,116,920 shares. The stock had previously closed at $33.50.

Analysts Set New Price Targets

Several research analysts have commented on the company. Morgan Stanley raised their price objective on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 11th. Scotiabank raised their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. Truist Financial boosted their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $37.00 target price on shares of Enterprise Products Partners in a research report on Wednesday. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and an average target price of $36.00.

Enterprise Products Partners Stock Up 1.1 %

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 stock has a market capitalization of $73.35 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 1.37 and a beta of 1.08. The firm’s fifty day moving average is $33.43 and its 200-day moving average is $31.64.

Enterprise Products Partners (NYSE:EPD) last posted 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 business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same period last year, the firm earned $0.72 earnings per share. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.32%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners’s payout ratio is 79.55%.

Institutional Trading of Enterprise Products Partners

A number of large investors have recently modified their holdings of the company. Invesco Ltd. raised its stake in Enterprise Products Partners by 1.3% during the 4th quarter. Invesco Ltd. now owns 27,076,718 shares of the oil and gas producer’s stock valued at $849,126,000 after acquiring an additional 359,288 shares in the last quarter. FMR LLC grew its position in Enterprise Products Partners by 2.1% in the 4th quarter. FMR LLC now owns 14,734,295 shares of the oil and gas producer’s stock valued at $462,067,000 after buying an additional 304,997 shares in the last quarter. Kayne Anderson Capital Advisors LP increased its stake in Enterprise Products Partners by 16.7% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock valued at $426,125,000 after buying an additional 1,947,017 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Enterprise Products Partners by 8.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer’s stock worth $330,739,000 after buying an additional 851,188 shares in the last quarter. Finally, Westwood Holdings Group Inc. lifted its stake in shares of Enterprise Products Partners by 11.1% in the 4th quarter. Westwood Holdings Group Inc. now owns 5,830,088 shares of the oil and gas producer’s stock worth $182,832,000 after acquiring an additional 580,850 shares during the period. 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.