Enterprise Products Partners (NYSE:EPD) Shares Up 0.7% – Still a Buy?

Enterprise Products Partners L.P. (NYSE:EPD) shares traded up 0.7% on Tuesday . The stock traded as high as $32.32 and last traded at $32.15. 724,635 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 2,629,825 shares. The stock had previously closed at $31.93.

Analysts Set New Price Targets

EPD has been the topic of several research reports. 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 lowered Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a report on Wednesday, December 18th. Royal Bank of Canada restated an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Bank of America assumed coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price on the stock. Finally, 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. Two 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 stock. According to data from MarketBeat.com, Enterprise Products Partners currently has an average rating of “Moderate Buy” and an average price target of $34.50.

Enterprise Products Partners Trading 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 firm’s fifty day moving average is $31.58 and its two-hundred day moving average is $30.03. The firm has a market capitalization of $70.27 billion, a PE ratio of 12.14, a PEG ratio of 1.66 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) 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 business had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same period in the prior year, the company earned $0.60 earnings per share. The business’s revenue was up 14.8% on a year-over-year basis. On average, equities analysts predict that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 6.60%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio is presently 78.65%.

Institutional Trading of Enterprise Products Partners

Several hedge funds have recently added to or reduced their stakes in EPD. DiNuzzo Private Wealth Inc. raised its holdings in shares of Enterprise Products Partners by 1,000.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 1,000 shares during the period. Assetmark Inc. increased its position 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 buying an additional 1,188 shares during the last quarter. Sanctuary Wealth Management L.L.C. bought a new stake in shares of Enterprise Products Partners in the third quarter valued at $36,000. Bangor Savings Bank lifted its position in shares of Enterprise Products Partners by 558.3% during the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after buying an additional 1,072 shares during the last quarter. Finally, Truvestments Capital LLC bought a new position in shares of Enterprise Products Partners during the 3rd quarter worth $49,000. 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.