Enterprise Products Partners (NYSE:EPD) Stock Price Up 0.3% – Time to Buy?

Enterprise Products Partners L.P. (NYSE:EPD) shares traded up 0.3% during trading on Thursday . The company traded as high as $29.18 and last traded at $29.05. 574,400 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 4,271,292 shares. The stock had previously closed at $28.97.

Analyst Ratings Changes

Several research firms recently weighed in on EPD. Royal Bank of Canada boosted their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Bank of America assumed coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price for the company. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Finally, Truist Financial boosted their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $33.73.

Enterprise Products Partners Price Performance

The company has a 50-day moving average of $29.25 and a 200-day moving average of $28.95. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91. The stock has a market cap of $63.08 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 1.49 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.02). Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The company had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $14.23 billion. During the same quarter last year, the company earned $0.57 EPS. Enterprise Products Partners’s revenue for the quarter was up 26.6% compared to the same quarter last year. As a group, equities research analysts predict that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.525 per share. The ex-dividend date is Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.23%. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.35%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of institutional investors have recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC lifted its holdings in shares of Enterprise Products Partners by 2,862.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after buying an additional 7,494,224 shares during the period. Blackstone Inc. lifted its holdings in Enterprise Products Partners by 6.3% in the first quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock valued at $686,712,000 after acquiring an additional 1,391,370 shares during the period. Reaves W H & Co. Inc. boosted its position in shares of Enterprise Products Partners by 1,368.4% during the 1st quarter. Reaves W H & Co. Inc. now owns 1,468,440 shares of the oil and gas producer’s stock worth $42,849,000 after purchasing an additional 1,368,440 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Enterprise Products Partners by 2,854.1% during the 3rd quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock worth $37,474,000 after purchasing an additional 1,243,741 shares during the period. Finally, Berkley W R Corp increased its holdings in shares of Enterprise Products Partners by 24.5% in the 1st quarter. Berkley W R Corp now owns 5,089,794 shares of the oil and gas producer’s stock valued at $148,520,000 after purchasing an additional 1,000,000 shares in the last quarter. Hedge funds and other institutional investors 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.