Enterprise Products Partners (NYSE:EPD) Stock Price Up 3.1% – Still a Buy?

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on EPD shares. Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Truist Financial lifted their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Scotiabank lifted 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. Finally, Wells Fargo & Company cut 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. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.90.

Enterprise Products Partners Stock Up 0.6 %

The stock has a market cap of $72.89 billion, a P/E ratio of 12.51, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08. The firm has a 50 day simple moving average of $33.06 and a 200-day simple moving average of $31.27. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The firm had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.72 earnings per share. On average, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal 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 given a dividend of $0.535 per share. The ex-dividend date of this dividend was Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 6.36%. Enterprise Products Partners’s dividend payout ratio (DPR) is 79.55%.

Hedge Funds Weigh In On Enterprise Products Partners

Institutional investors and hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp grew its holdings in Enterprise Products Partners by 12.2% in the 3rd quarter. Van ECK Associates Corp now owns 84,939 shares of the oil and gas producer’s stock valued at $2,461,000 after buying an additional 9,209 shares in the last quarter. Leavell Investment Management Inc. increased its position in Enterprise Products Partners by 6.0% during the third quarter. Leavell Investment Management Inc. now owns 68,980 shares of the oil and gas producer’s stock worth $2,008,000 after acquiring an additional 3,891 shares during the period. CWA Asset Management Group LLC acquired a new stake in Enterprise Products Partners in the 3rd quarter worth about $843,000. Verdence Capital Advisors LLC boosted its holdings in Enterprise Products Partners by 21.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 10,784 shares of the oil and gas producer’s stock valued at $314,000 after purchasing an additional 1,910 shares during the period. Finally, Assetmark Inc. grew its position in shares of Enterprise Products Partners by 19,800.0% during the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after purchasing an additional 1,188 shares in the last quarter. Institutional investors and hedge funds 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.