Enterprise Products Partners (NYSE:EPD) Stock Price Up 1.1% – Still a Buy?

Enterprise Products Partners L.P. (NYSE:EPD)’s share price was up 1.1% on Thursday . The stock traded as high as $38.15 and last traded at $38.1390. Approximately 2,320,611 shares changed hands during trading, a decline of 44% from the average daily volume of 4,145,560 shares. The stock had previously closed at $37.72.

Wall Street Analyst Weigh In

EPD has been the subject of several analyst reports. TD Cowen reiterated a “hold” rating and issued a $38.00 price objective (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday. Truist Financial boosted their target price on Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a research note on Monday, May 4th. Morgan Stanley set a $40.00 target price on Enterprise Products Partners and gave the company an “underweight” rating in a report on Tuesday, July 21st. Wolfe Research raised Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Finally, Weiss Ratings lowered Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, July 2nd. Eight research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners presently has an average rating of “Hold” and a consensus price target of $39.93.

Enterprise Products Partners Stock Down 0.7%

The stock’s 50-day moving average price is $37.54 and its two-hundred day moving average price is $37.16. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $81.70 billion, a P/E ratio of 13.12, a P/E/G ratio of 1.37 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, beating the consensus estimate of $0.75 by $0.09. Enterprise Products Partners had a return on equity of 20.80% and a net margin of 10.79%.The business had revenue of $18.27 billion for the quarter, compared to the consensus estimate of $13.69 billion. During the same quarter in the prior year, the business earned $0.66 earnings per share. Enterprise Products Partners’s revenue for the quarter was up 60.8% on a year-over-year basis. As a group, research analysts expect that Enterprise Products Partners L.P. will post 2.96 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a $0.56 dividend. The ex-dividend date is Friday, July 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a dividend yield of 5.9%. Enterprise Products Partners’s dividend payout ratio is presently 77.78%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Auto Owners Insurance Co lifted its stake in shares of Enterprise Products Partners by 3,106.0% during the 4th quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock valued at $102,784,000 after buying an additional 31,060,000 shares in the last quarter. Energy Income Partners LLC bought a new position in Enterprise Products Partners in the 2nd quarter worth approximately $508,461,000. BlackRock Inc. purchased a new position in Enterprise Products Partners in the 2nd quarter valued at approximately $255,325,000. Goldman Sachs Group Inc. grew its stake in Enterprise Products Partners by 12.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock valued at $582,317,000 after buying an additional 1,940,583 shares in the last quarter. Finally, Deutsche Bank AG bought a new stake in Enterprise Products Partners during the 2nd quarter valued at $67,915,000. Institutional investors 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.