Enterprise Products Partners (NYSE:EPD) Trading Up 3.1% – Time to Buy?

Enterprise Products Partners L.P. (NYSE:EPD) shares were up 3.1% on Monday . The stock traded as high as $34.42 and last traded at $34.48. Approximately 2,014,172 shares traded hands during trading, a decline of 58% from the average daily volume of 4,814,212 shares. The stock had previously closed at $33.46.

Analyst Ratings Changes

Several research firms have commented on EPD. Scotiabank increased their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. Morgan Stanley increased their price target on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday. Truist Financial upped their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Wells Fargo & Company lowered 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 report on Wednesday, December 18th. Finally, Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.30.

Enterprise Products Partners Trading Down 1.4 %

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 company’s 50 day moving average price is $33.14 and its two-hundred day moving average price is $31.33. The firm has a market cap of $71.85 billion, a PE ratio of 12.33, a P/E/G ratio of 1.37 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.05. The business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.72 earnings per share. As a group, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a dividend of $0.535 per share. The ex-dividend date was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.45%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s payout ratio is presently 79.55%.

Institutional Investors Weigh In On Enterprise Products Partners

Several large investors have recently added to or reduced their stakes in the stock. Rosenberg Matthew Hamilton raised its stake in shares of Enterprise Products Partners by 364.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 656 shares in the last quarter. Tidemark LLC increased its holdings in Enterprise Products Partners by 54.3% during the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 318 shares during the period. Lee Danner & Bass Inc. bought a new stake in Enterprise Products Partners during the 4th quarter valued at $29,000. Crowley Wealth Management Inc. purchased a new stake in shares of Enterprise Products Partners in the 4th quarter worth $30,000. Finally, National Bank of Canada FI grew its position in shares of Enterprise Products Partners by 55.4% during the 4th quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock worth $32,000 after buying an additional 360 shares in the last quarter. 26.07% of the stock is 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.