Enterprise Products Partners (NYSE:EPD) Shares Up 0.8% – Should You Buy?

Enterprise Products Partners L.P. (NYSE:EPD)’s share price rose 0.8% on Monday . The stock traded as high as $33.43 and last traded at $33.21. Approximately 1,402,414 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 4,758,186 shares. The stock had previously closed at $32.93.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on EPD shares. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Bank of America assumed coverage on Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price for the company. Scotiabank started coverage on Enterprise Products Partners in a research note on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Finally, Citigroup increased their price target on shares of Enterprise Products Partners from $36.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.70.

Enterprise Products Partners Stock Performance

The firm’s 50-day moving average price is $32.48 and its two-hundred day moving average price is $30.70. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The stock has a market cap of $71.36 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 1.54 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 earnings per share. On average, analysts expect that Enterprise Products Partners L.P. will post 2.87 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a yield of 6.50%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, January 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 79.55%.

Institutional Investors Weigh In On Enterprise Products Partners

Several institutional investors have recently made changes to their positions in EPD. Verity & Verity LLC raised its stake in Enterprise Products Partners by 30.8% in the 4th quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock valued at $3,470,000 after purchasing an additional 26,032 shares during the last quarter. Paragon Advisors LLC purchased a new position in shares of Enterprise Products Partners in the 3rd quarter valued at $2,628,000. FMR LLC raised its position in Enterprise Products Partners by 9.3% in the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after purchasing an additional 1,225,988 shares during the period. Peapack Gladstone Financial Corp lifted its position in 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 worth $3,954,000 after acquiring an additional 51,809 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Enterprise Products Partners by 5.2% in 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 period. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

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.