Enterprise Products Partners (NYSE:EPD) Stock Price Up 2% – Time to Buy?

Enterprise Products Partners L.P. (NYSE:EPD) shares rose 2% during mid-day trading on Friday . The stock traded as high as $31.45 and last traded at $31.05. Approximately 3,638,730 shares were traded during trading, a decline of 17% from the average daily volume of 4,369,478 shares. The stock had previously closed at $30.44.

Analysts Set New Price Targets

EPD has been the topic of a number of analyst reports. Barclays raised their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Truist Financial lifted their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $37.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. JPMorgan Chase & Co. upped their price objective on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. Finally, Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.89.

Enterprise Products Partners Stock Performance

The stock’s 50-day moving average is $32.65 and its 200-day moving average is $31.87. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The stock has a market cap of $67.25 billion, a price-to-earnings ratio of 11.54, a P/E/G ratio of 1.37 and a beta of 0.78.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.05. The company had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.72 earnings per share. On average, analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be given a $0.535 dividend. This represents a $2.14 annualized dividend and a yield of 6.89%. The ex-dividend date of this dividend is Wednesday, April 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 79.55%.

Institutional Investors Weigh In On Enterprise Products Partners

Several institutional investors and hedge funds have recently modified their holdings of the stock. Kayne Anderson Capital Advisors LP boosted its holdings in Enterprise Products Partners by 16.7% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock worth $426,125,000 after acquiring an additional 1,947,017 shares during the period. Barclays PLC lifted its position in shares of Enterprise Products Partners by 110.0% during the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock worth $73,699,000 after purchasing an additional 1,326,010 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Enterprise Products Partners in the fourth quarter valued at $36,279,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in 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 valued at $330,739,000 after purchasing an additional 851,188 shares in the last quarter. Finally, KDK Private Wealth Management LLC acquired a new stake in Enterprise Products Partners during the 4th quarter valued at $22,333,000. Hedge funds and other institutional investors 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.