Enterprise Products Partners (NYSE:EPD) Trading Up 0.9% – Time to Buy?

Shares of Enterprise Products Partners L.P. (NYSE:EPD) traded up 0.9% during mid-day trading on Monday . The company traded as high as $33.74 and last traded at $33.52. 4,566,851 shares were traded during mid-day trading, a decline of 11% from the average session volume of 5,115,015 shares. The stock had previously closed at $33.21.

Wall Street Analyst Weigh In

EPD has been the subject of several research analyst reports. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Scotiabank began coverage on shares of Enterprise Products Partners in a report on Friday, January 10th. They set a “sector perform” rating and a $33.00 target price for the company. Finally, Citigroup lifted 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 note on Thursday, February 6th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $34.70.

Enterprise Products Partners Price Performance

The firm has a 50 day moving average of $32.55 and a 200-day moving average of $30.86. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The company has a market cap of $72.86 billion, a P/E ratio of 12.50, a P/E/G ratio of 1.57 and a beta of 1.09.

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

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 6.37%. The ex-dividend date was Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio is 79.55%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of hedge funds have recently made changes to their positions in the company. Rosenberg Matthew Hamilton grew its holdings in Enterprise Products Partners by 364.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 656 shares in the last quarter. Tidemark LLC boosted its position in shares of Enterprise Products Partners by 54.3% during the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 318 shares during the last quarter. Lee Danner & Bass Inc. purchased a new position in shares of Enterprise Products Partners in the fourth quarter valued at $29,000. Crowley Wealth Management Inc. bought a new stake in Enterprise Products Partners in the fourth quarter worth $30,000. Finally, National Bank of Canada FI raised its stake in Enterprise Products Partners by 55.4% during the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 360 shares in the last quarter. 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.