Enterprise Products Partners (NYSE:EPD) Shares Up 1.3% – Should You Buy?

Enterprise Products Partners L.P. (NYSE:EPD) traded up 1.3% on Thursday . The company traded as high as $31.80 and last traded at $31.78. 842,761 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 4,278,178 shares. The stock had previously closed at $31.36.

Wall Street Analyst Weigh In

EPD has been the topic of several recent research reports. Bank of America began coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Wells Fargo & Company downgraded 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 report on Wednesday, December 18th. Finally, US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $34.20.

Enterprise Products Partners Stock Performance

The stock has a market capitalization of $68.63 billion, a price-to-earnings ratio of 11.86, a P/E/G ratio of 1.67 and a beta of 1.08. The company’s fifty day simple moving average is $31.29 and its 200 day simple moving average is $29.91. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same quarter last year, the company posted $0.60 EPS. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. On average, equities research analysts expect that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Curi RMB Capital LLC raised its position in shares of Enterprise Products Partners by 0.5% in the third quarter. Curi RMB Capital LLC now owns 73,828 shares of the oil and gas producer’s stock valued at $2,149,000 after buying an additional 339 shares in the last quarter. Zega Financial LLC increased its stake in Enterprise Products Partners by 1.7% during the 3rd quarter. Zega Financial LLC now owns 20,870 shares of the oil and gas producer’s stock worth $608,000 after acquiring an additional 344 shares during the period. Tranquility Partners LLC raised its holdings in Enterprise Products Partners by 1.5% in the 3rd quarter. Tranquility Partners LLC now owns 23,204 shares of the oil and gas producer’s stock valued at $675,000 after acquiring an additional 346 shares in the last quarter. Princeton Global Asset Management LLC lifted its position in shares of Enterprise Products Partners by 4.9% during the 3rd quarter. Princeton Global Asset Management LLC now owns 7,510 shares of the oil and gas producer’s stock valued at $219,000 after acquiring an additional 350 shares during the period. Finally, Strategic Wealth Partners Ltd. grew its holdings in shares of Enterprise Products Partners by 3.8% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 9,731 shares of the oil and gas producer’s stock worth $283,000 after purchasing an additional 353 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

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.