Enterprise Products Partners (NYSE:EPD) Stock Price Up 2% – Still a Buy?

Enterprise Products Partners L.P. (NYSE:EPD) shares traded up 2% during mid-day trading on Tuesday . The stock traded as high as $31.67 and last traded at $31.62. 600,934 shares were traded during trading, a decline of 86% from the average session volume of 4,300,325 shares. The stock had previously closed at $31.01.

Analyst Ratings Changes

A number of research analysts recently weighed in on EPD shares. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Bank of America started 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 on the stock. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a report on Wednesday, December 18th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.20.

Enterprise Products Partners Stock Performance

The firm has a market capitalization of $68.26 billion, a P/E ratio of 11.79, a P/E/G ratio of 1.67 and a beta of 1.08. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The firm has a 50-day moving average price of $30.98 and a two-hundred day moving average price of $29.78.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The company had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 EPS. On average, analysts forecast that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were paid a $0.525 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 6.67%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 78.65%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Tortoise Capital Advisors L.L.C. lifted its stake in Enterprise Products Partners by 4.8% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock worth $470,091,000 after acquiring an additional 741,237 shares during the period. FMR LLC raised its holdings in shares of Enterprise Products Partners by 9.3% in the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after purchasing an additional 1,225,988 shares in the last quarter. Pathway Financial Advisers LLC lifted its position 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 worth $225,777,000 after purchasing an additional 7,494,224 shares during the period. Westwood Holdings Group Inc. boosted its stake in shares of Enterprise Products Partners by 9.0% during the second quarter. Westwood Holdings Group Inc. now owns 5,404,012 shares of the oil and gas producer’s stock valued at $156,608,000 after purchasing an additional 447,768 shares in the last quarter. Finally, Hamlin Capital Management LLC increased its holdings in Enterprise Products Partners by 0.5% during the third quarter. Hamlin Capital Management LLC now owns 4,923,948 shares of the oil and gas producer’s stock valued at $143,336,000 after buying an additional 24,335 shares during the period. Institutional investors 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.