Enterprise Products Partners (NYSE:EPD) Stock Price Up 1.7% – Should You Buy?

Enterprise Products Partners L.P. (NYSE:EPD) rose 1.7% during mid-day trading on Wednesday . The company traded as high as $33.42 and last traded at $33.41. Approximately 820,444 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 4,285,468 shares. The stock had previously closed at $32.86.

Analyst Ratings Changes

EPD has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Bank of America initiated coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target on the stock. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Enterprise Products Partners currently has a consensus rating of “Buy” and an average price target of $34.00.

Enterprise Products Partners Stock Up 2.4 %

The firm has a market cap of $72.94 billion, a P/E ratio of 12.60, a price-to-earnings-growth ratio of 1.74 and a beta of 1.04. The stock’s 50 day simple moving average is $30.01 and its 200 day simple moving average is $29.31. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.

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). The business had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.60 EPS. Research analysts anticipate that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were paid a dividend of $0.525 per share. The ex-dividend date was Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a yield of 6.24%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 78.65%.

Institutional Trading of Enterprise Products Partners

Several institutional investors have recently made changes to their positions in the company. Hantz Financial Services Inc. purchased a new stake in Enterprise Products Partners during the second quarter valued at about $25,000. Mascoma Wealth Management LLC purchased a new stake in shares of Enterprise Products Partners during the second quarter valued at approximately $29,000. DiNuzzo Private Wealth Inc. lifted its stake in Enterprise Products Partners by 1,000.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock worth $32,000 after acquiring an additional 1,000 shares during the period. Assetmark Inc. lifted its stake in Enterprise Products Partners by 19,800.0% in the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after acquiring an additional 1,188 shares during the period. Finally, Sanctuary Wealth Management L.L.C. purchased a new stake in Enterprise Products Partners in the third quarter worth $36,000. Institutional investors 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.