Enterprise Products Partners (NYSE:EPD) Trading 0.1% Higher – Still a Buy?

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price shot up 0.1% during trading on Tuesday . The stock traded as high as $32.45 and last traded at $32.37. 1,156,723 shares were traded during mid-day trading, a decline of 73% from the average session volume of 4,284,717 shares. The stock had previously closed at $32.34.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on EPD. StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Truist Financial lifted their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Bank of America assumed coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 target price for the company. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $34.00.

Enterprise Products Partners Stock Up 2.4 %

The stock’s fifty day moving average price is $29.92 and its 200-day moving average price is $29.28. 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 has a market capitalization of $72.95 billion, a price-to-earnings ratio of 12.60, a P/E/G ratio of 1.67 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly 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 analyst estimates of $13.87 billion. During the same quarter in the previous year, the firm posted $0.60 earnings per share. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. On average, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were given a dividend of $0.525 per share. The ex-dividend date was Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 6.24%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 78.65%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Hantz Financial Services Inc. bought a new position in shares of Enterprise Products Partners in the second quarter valued at $25,000. Mascoma Wealth Management LLC acquired a new stake in shares of Enterprise Products Partners in the second quarter valued at approximately $29,000. DiNuzzo Private Wealth Inc. increased its holdings in shares of Enterprise Products Partners by 1,000.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 1,000 shares during the last quarter. Assetmark Inc. grew its stake in Enterprise Products Partners by 19,800.0% in the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after buying an additional 1,188 shares during the last quarter. Finally, Sanctuary Wealth Management L.L.C. acquired a new stake in Enterprise Products Partners during the third quarter worth approximately $36,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

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.