Enterprise Products Partners (NYSE:EPD) Trading 0.1% Higher – Still a Buy?

Enterprise Products Partners L.P. (NYSE:EPD) shares were up 0.1% on Monday . The stock traded as high as $31.51 and last traded at $31.24. Approximately 1,628,756 shares changed hands during trading, a decline of 63% from the average daily volume of 4,354,173 shares. The stock had previously closed at $31.22.

Analysts Set New Price Targets

Several brokerages have recently commented on EPD. StockNews.com raised Enterprise Products Partners from a “hold” rating to a “buy” rating in a report on Tuesday, April 15th. Scotiabank raised their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a report on Thursday, March 6th. Truist Financial lifted their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Finally, Barclays upped their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Enterprise Products Partners currently has an average rating of “Moderate Buy” and an average price target of $36.89.

Enterprise Products Partners Stock Performance

The firm has a fifty day simple moving average of $32.36 and a two-hundred day simple moving average of $31.96. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The firm has a market cap of $67.73 billion, a price-to-earnings ratio of 11.63, a P/E/G ratio of 1.37 and a beta of 0.78.

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

Enterprise Products Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be issued a $0.535 dividend. The ex-dividend date is Wednesday, April 30th. This represents a $2.14 annualized dividend and a dividend yield of 6.84%. Enterprise Products Partners’s dividend payout ratio is presently 79.55%.

Institutional Trading of Enterprise Products Partners

A number of large investors have recently made changes to their positions in the company. Invesco Ltd. boosted its position in shares of Enterprise Products Partners by 1.3% in the 4th quarter. Invesco Ltd. now owns 27,076,718 shares of the oil and gas producer’s stock valued at $849,126,000 after purchasing an additional 359,288 shares during the period. FMR LLC boosted its holdings in Enterprise Products Partners by 2.1% during the fourth quarter. FMR LLC now owns 14,734,295 shares of the oil and gas producer’s stock worth $462,067,000 after buying an additional 304,997 shares in the last quarter. Kayne Anderson Capital Advisors LP grew its holdings in shares of 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Enterprise Products Partners by 8.8% in 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 acquiring an additional 851,188 shares during the last quarter. Finally, Westwood Holdings Group Inc. increased its stake in shares of Enterprise Products Partners by 11.1% during the 4th quarter. Westwood Holdings Group Inc. now owns 5,830,088 shares of the oil and gas producer’s stock worth $182,832,000 after purchasing an additional 580,850 shares in the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

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.