Enterprise Products Partners (NYSE:EPD) Trading 2.6% Higher – Time to Buy?

Enterprise Products Partners L.P. (NYSE:EPD) shares rose 2.6% on Monday . The stock traded as high as $30.41 and last traded at $30.41. Approximately 1,430,433 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 4,371,882 shares. The stock had previously closed at $29.63.

Wall Street Analyst Weigh In

EPD has been the topic of several research analyst reports. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a research note on Wednesday, December 18th. Royal Bank of Canada restated an “outperform” rating and set a $37.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Barclays raised their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, March 14th. Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Finally, Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $36.89.

Enterprise Products Partners Stock Performance

The stock has a market cap of $66.18 billion, a P/E ratio of 11.36, a price-to-earnings-growth ratio of 1.37 and a beta of 0.78. 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 stock’s 50 day simple moving average is $32.84 and its two-hundred day simple moving average is $31.86.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 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 business had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the previous year, the firm posted $0.72 EPS. The firm’s revenue was down 2.9% compared to the same quarter last year. As a group, research analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be paid a $0.535 dividend. This represents a $2.14 annualized dividend and a yield of 7.00%. The ex-dividend date of this dividend is Wednesday, April 30th. Enterprise Products Partners’s payout ratio is 79.55%.

Institutional Trading of Enterprise Products Partners

A number of institutional investors have recently made changes to their positions in EPD. Quantinno Capital Management LP bought a new position in shares of Enterprise Products Partners in the third quarter valued at $263,000. Orion Portfolio Solutions LLC raised its holdings in shares of Enterprise Products Partners by 18.7% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 13,808 shares of the oil and gas producer’s stock valued at $402,000 after purchasing an additional 2,178 shares during the period. MML Investors Services LLC raised its stake in Enterprise Products Partners by 13.1% in the third quarter. MML Investors Services LLC now owns 127,600 shares of the oil and gas producer’s stock valued at $3,714,000 after buying an additional 14,806 shares during the period. Barclays PLC lifted its position in shares of Enterprise Products Partners by 110.0% in the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock valued at $73,699,000 after buying an additional 1,326,010 shares during the last quarter. Finally, Eaton Financial Holdings Company LLC bought a new position in shares of Enterprise Products Partners during the 3rd quarter worth approximately $1,066,000. 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.