Enterprise Products Partners (NYSE:EPD) Hits New 52-Week High – Time to Buy?

Shares of Enterprise Products Partners L.P. (NYSE:EPD) hit a new 52-week high during trading on Tuesday . The company traded as high as $37.31 and last traded at $37.18, with a volume of 2088397 shares traded. The stock had previously closed at $36.89.

Analyst Upgrades and Downgrades

EPD has been the topic of several research analyst reports. Wells Fargo & Company raised their price objective on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 5th. Morgan Stanley lowered shares of Enterprise Products Partners from an “equal weight” rating to an “underweight” rating and set a $34.00 price target on the stock. in a research report on Thursday, December 18th. Citigroup restated a “buy” rating and set a $39.00 price objective (up from $36.00) on shares of Enterprise Products Partners in a report on Wednesday, February 4th. TD Cowen increased their target price on shares of Enterprise Products Partners from $33.00 to $34.00 and gave the company a “hold” rating in a research note on Wednesday, February 4th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $34.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $36.00.

Enterprise Products Partners Stock Up 0.8%

The company has a current ratio of 0.88, a quick ratio of 0.60 and a debt-to-equity ratio of 1.04. The business’s fifty day moving average price is $33.87 and its 200 day moving average price is $32.42. The company has a market capitalization of $80.43 billion, a P/E ratio of 13.98, a P/E/G ratio of 2.57 and a beta of 0.58.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Monday, February 2nd. The oil and gas producer reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. The firm had revenue of $13.79 billion during the quarter, compared to analysts’ expectations of $12.44 billion. Enterprise Products Partners had a net margin of 11.05% and a return on equity of 19.43%. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.74 earnings per share. As a group, equities research analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, January 30th. This represents a $2.20 annualized dividend and a yield of 5.9%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s payout ratio is presently 82.71%.

Insiders Place Their Bets

In related news, Director John R. Rutherford acquired 15,000 shares of the company’s stock in a transaction on Monday, December 29th. The stock was purchased at an average cost of $32.09 per share, for a total transaction of $481,350.00. Following the completion of the purchase, the director directly owned 173,586 shares of the company’s stock, valued at $5,570,374.74. The trade was a 9.46% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 32.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Enterprise Products Partners

Several institutional investors and hedge funds have recently made changes to their positions in the company. Arete Wealth Advisors LLC lifted its position in shares of Enterprise Products Partners by 1.5% during the third quarter. Arete Wealth Advisors LLC now owns 21,145 shares of the oil and gas producer’s stock worth $661,000 after purchasing an additional 317 shares in the last quarter. ORG Wealth Partners LLC lifted its holdings in Enterprise Products Partners by 0.5% during the 4th quarter. ORG Wealth Partners LLC now owns 66,266 shares of the oil and gas producer’s stock worth $2,125,000 after buying an additional 317 shares in the last quarter. Walker Asset Management LLC boosted its position in Enterprise Products Partners by 1.7% in the 4th quarter. Walker Asset Management LLC now owns 19,678 shares of the oil and gas producer’s stock valued at $631,000 after buying an additional 326 shares during the last quarter. Verus Capital Partners LLC increased its stake in shares of Enterprise Products Partners by 1.0% in the 2nd quarter. Verus Capital Partners LLC now owns 32,311 shares of the oil and gas producer’s stock valued at $1,002,000 after buying an additional 328 shares during the period. Finally, Mission Wealth Management LP raised its position in shares of Enterprise Products Partners by 1.0% during the fourth quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer’s stock worth $1,037,000 after acquiring an additional 328 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.