Enterprise Products Partners (NYSE:EPD) Shares Up 1.5% – Should You Buy?

Enterprise Products Partners L.P. (NYSE:EPD)’s share price shot up 1.5% during mid-day trading on Wednesday . The company traded as high as $31.67 and last traded at $31.49. 1,674,677 shares changed hands during trading, a decline of 61% from the average session volume of 4,304,995 shares. The stock had previously closed at $31.01.

Analyst Upgrades and Downgrades

EPD has been the subject of several research analyst reports. Bank of America assumed coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective for the company. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a research report on Wednesday, December 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Finally, 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. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.20.

Enterprise Products Partners Price Performance

The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $67.50 billion, a PE ratio of 11.66, a P/E/G ratio of 1.67 and a beta of 1.08. The stock’s 50-day moving average is $31.12 and its 200 day moving average is $29.82.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $13.87 billion. During the same period in the previous year, the business posted $0.60 EPS. Enterprise Products Partners’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 6.74%. The ex-dividend date of this dividend was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 78.65%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of EPD. Paragon Advisors LLC bought a new position in Enterprise Products Partners during the third quarter valued at about $2,628,000. FMR LLC raised its stake in shares of Enterprise Products Partners by 9.3% in the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after acquiring an additional 1,225,988 shares in the last quarter. Peapack Gladstone Financial Corp lifted its holdings in Enterprise Products Partners by 61.7% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock worth $3,954,000 after purchasing an additional 51,809 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in Enterprise Products Partners by 5.2% during the third 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 last quarter. Finally, Brookfield Corp ON raised its position in shares of Enterprise Products Partners by 6.2% in 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 purchasing an additional 278,892 shares during the period. 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.