Enterprise Products Partners (NYSE:EPD) Stock Price Up 0.9% – Still a Buy?

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price traded up 0.9% during trading on Thursday . The company traded as high as $30.71 and last traded at $30.65. 1,357,479 shares were traded during mid-day trading, a decline of 68% from the average session volume of 4,285,744 shares. The stock had previously closed at $30.39.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Truist Financial lifted their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. 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. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Finally, Bank of America initiated coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price on the stock. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Enterprise Products Partners currently has an average rating of “Buy” and a consensus price target of $34.00.

Enterprise Products Partners Trading Up 0.9 %

The firm has a market cap of $67.39 billion, a P/E ratio of 11.64, a price-to-earnings-growth ratio of 1.57 and a beta of 1.04. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.68 and a current ratio of 1.07. The stock has a fifty day simple moving average of $29.44 and a 200 day simple moving average of $29.05.

Enterprise Products Partners (NYSE:EPD) last posted its 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 company had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter in the prior year, the company posted $0.60 EPS. Enterprise Products Partners’s revenue was up 14.8% on a year-over-year basis. On average, research analysts expect 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 announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 6.75%. The ex-dividend date of this dividend was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 78.65%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of institutional investors and hedge funds have recently modified their holdings of the company. Curi RMB Capital LLC boosted its position in Enterprise Products Partners by 0.5% in the third quarter. Curi RMB Capital LLC now owns 73,828 shares of the oil and gas producer’s stock worth $2,149,000 after purchasing an additional 339 shares during the last quarter. Zega Financial LLC boosted its holdings in shares of Enterprise Products Partners by 1.7% in the third quarter. Zega Financial LLC now owns 20,870 shares of the oil and gas producer’s stock worth $608,000 after buying an additional 344 shares during the last quarter. Tranquility Partners LLC grew its position in Enterprise Products Partners by 1.5% during the third quarter. Tranquility Partners LLC now owns 23,204 shares of the oil and gas producer’s stock valued at $675,000 after buying an additional 346 shares during the period. Princeton Global Asset Management LLC raised its position in Enterprise Products Partners by 4.9% in the third quarter. Princeton Global Asset Management LLC now owns 7,510 shares of the oil and gas producer’s stock worth $219,000 after acquiring an additional 350 shares during the period. Finally, Strategic Wealth Partners Ltd. boosted its stake in shares of Enterprise Products Partners by 3.8% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 9,731 shares of the oil and gas producer’s stock worth $283,000 after acquiring an additional 353 shares during 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.