Enterprise Products Partners (NYSE:EPD) Trading 0.8% Higher – Time to Buy?

Enterprise Products Partners L.P. (NYSE:EPD) shares rose 0.8% on Friday . The stock traded as high as $29.48 and last traded at $29.47. Approximately 453,307 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 4,310,793 shares. The stock had previously closed at $29.25.

Analyst Ratings Changes

Several brokerages recently commented on EPD. Truist Financial lifted their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $33.50.

Enterprise Products Partners Stock Up 0.7 %

The firm has a market cap of $63.92 billion, a price-to-earnings ratio of 11.24, a P/E/G ratio of 1.49 and a beta of 1.03. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68. The stock has a 50-day moving average of $29.16 and a 200-day moving average of $28.97.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The company had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $14.23 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.57 EPS. Sell-side analysts predict that Enterprise Products Partners L.P. will post 2.71 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 7.13%. Enterprise Products Partners’s dividend payout ratio is 80.15%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in EPD. Strategic Wealth Partners Ltd. increased its stake in shares of Enterprise Products Partners by 3.8% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 9,731 shares of the oil and gas producer’s stock valued at $283,000 after purchasing an additional 353 shares during the last quarter. Cadence Bank raised its stake in Enterprise Products Partners by 0.7% during the first quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock worth $1,530,000 after acquiring an additional 365 shares in the last quarter. McAdam LLC boosted its stake in shares of Enterprise Products Partners by 1.3% in the 2nd quarter. McAdam LLC now owns 28,670 shares of the oil and gas producer’s stock valued at $831,000 after purchasing an additional 372 shares in the last quarter. Advisor OS LLC grew its holdings in shares of Enterprise Products Partners by 1.3% during the 2nd quarter. Advisor OS LLC now owns 29,485 shares of the oil and gas producer’s stock valued at $854,000 after purchasing an additional 379 shares during the last quarter. Finally, Ellsworth Advisors LLC increased its position in Enterprise Products Partners by 1.8% during the 2nd quarter. Ellsworth Advisors LLC now owns 21,959 shares of the oil and gas producer’s stock worth $636,000 after purchasing an additional 383 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

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.