Enterprise Products Partners (NYSE:EPD) Shares Up 0.3% – Time to Buy?

Enterprise Products Partners L.P. (NYSE:EPD)’s share price shot up 0.3% during mid-day trading on Tuesday . The company traded as high as $33.83 and last traded at $33.55. 1,765,653 shares changed hands during trading, a decline of 57% from the average session volume of 4,096,636 shares. The stock had previously closed at $33.45.

Analyst Upgrades and Downgrades

EPD has been the subject of a number of recent research reports. Truist Financial boosted their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Scotiabank initiated coverage on Enterprise Products Partners in a research note on Friday, January 10th. They set a “sector perform” rating and a $33.00 price objective for the company. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Finally, Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and an average price target of $34.60.

Enterprise Products Partners Stock Up 0.6 %

The company has a 50-day simple moving average of $32.42 and a 200 day simple moving average of $30.43. The company has a market cap of $72.95 billion, a P/E ratio of 12.60, a P/E/G ratio of 1.60 and a beta of 1.09. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) 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 firm had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. During the same period in the previous year, the company posted $0.60 EPS. Enterprise Products Partners’s quarterly revenue was up 14.8% compared to the same quarter last year. On average, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.67 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a dividend of $0.535 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.36%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 78.65%.

Institutional Investors Weigh In On Enterprise Products Partners

Several institutional investors have recently added to or reduced their stakes in the business. FMR LLC raised its position in shares of Enterprise Products Partners by 9.3% in the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after purchasing an additional 1,225,988 shares during the last quarter. Pathway Financial Advisers LLC raised its holdings in shares of Enterprise Products Partners by 2,862.8% in the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock worth $225,777,000 after buying an additional 7,494,224 shares during the last quarter. Hamlin Capital Management LLC lifted its stake in shares of Enterprise Products Partners by 0.5% during the third quarter. Hamlin Capital Management LLC now owns 4,923,948 shares of the oil and gas producer’s stock worth $143,336,000 after buying an additional 24,335 shares during the period. Brookfield Corp ON grew its stake in Enterprise Products Partners by 6.2% during the 3rd quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock valued at $138,639,000 after purchasing an additional 278,892 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in Enterprise Products Partners by 5.2% in the third quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock valued at $118,561,000 after buying an additional 200,625 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. 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.