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

Enterprise Products Partners L.P. (NYSE:EPD) shares were up 2% during trading on Tuesday . The stock traded as high as $31.67 and last traded at $31.62. Approximately 600,934 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 4,300,325 shares. The stock had previously closed at $31.01.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on EPD shares. Bank of America initiated coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective on the stock. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Enterprise Products Partners has an average rating of “Moderate Buy” and an average target price of $34.20.

Enterprise Products Partners Stock Up 1.5 %

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 business’s fifty day moving average price is $30.98 and its two-hundred day moving average price is $29.78. The stock has a market capitalization of $68.26 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. During the same quarter in the previous year, the firm posted $0.60 EPS. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 6.67%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is presently 78.65%.

Institutional Trading of Enterprise Products Partners

Several large investors have recently made changes to their positions in EPD. Paragon Advisors LLC acquired a new stake in Enterprise Products Partners during the third quarter worth about $2,628,000. FMR LLC grew its stake in shares of Enterprise Products Partners by 9.3% during the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after purchasing an additional 1,225,988 shares during the period. Peapack Gladstone Financial Corp increased its holdings in shares of Enterprise Products Partners by 61.7% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock valued at $3,954,000 after purchasing an additional 51,809 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Enterprise Products Partners by 5.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock valued at $118,561,000 after purchasing an additional 200,625 shares during the period. Finally, Brookfield Corp ON grew its position in Enterprise Products Partners by 6.2% during the third quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock valued at $138,639,000 after buying an additional 278,892 shares during the period. 26.07% of the stock is owned by hedge funds and other institutional investors.

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.