Enterprise Products Partners (NYSE:EPD) Shares Up 1.7% – Still a Buy?

Shares of Enterprise Products Partners L.P. (NYSE:EPD) rose 1.7% during mid-day trading on Monday . The company traded as high as $32.91 and last traded at $32.72. Approximately 1,654,240 shares were traded during trading, a decline of 49% from the average daily volume of 3,271,315 shares. The stock had previously closed at $32.17.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Bank of America assumed coverage on Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price for the company. Truist Financial lifted their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a research note on Wednesday, December 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Finally, US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.60.

Enterprise Products Partners Stock Up 1.4 %

The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The stock has a market cap of $70.68 billion, a P/E ratio of 12.21, a P/E/G ratio of 1.66 and a beta of 1.09. The company’s 50 day moving average price is $31.72 and its two-hundred day moving average price is $30.09.

Enterprise Products Partners (NYSE:EPD) last issued 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). 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 period in the previous year, the business earned $0.60 EPS. Enterprise Products Partners’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, research analysts expect that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 6.56%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, January 31st. Enterprise Products Partners’s payout ratio is 80.15%.

Institutional Investors Weigh In On Enterprise Products Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. DiNuzzo Private Wealth Inc. increased its holdings in Enterprise Products Partners by 1,000.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock worth $32,000 after buying an additional 1,000 shares during the period. Assetmark Inc. boosted its holdings in Enterprise Products Partners by 19,800.0% during the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after buying an additional 1,188 shares in the last quarter. Sanctuary Wealth Management L.L.C. acquired a new stake in Enterprise Products Partners during the third quarter valued at $36,000. Bangor Savings Bank increased its holdings in Enterprise Products Partners by 558.3% in the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after buying an additional 1,072 shares in the last quarter. Finally, Truvestments Capital LLC acquired a new position in shares of Enterprise Products Partners in the third quarter worth about $49,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

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.