Enterprise Products Partners (NYSE:EPD) Trading Up 0.3% – Should You Buy?

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price rose 0.3% on Tuesday . The stock traded as high as $33.83 and last traded at $33.55. Approximately 1,765,653 shares changed hands during trading, a decline of 57% from the average daily volume of 4,096,636 shares. The stock had previously closed at $33.45.

Wall Street Analysts Forecast Growth

EPD has been the subject of a number of analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Bank of America began coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price for the company. Truist Financial raised their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.60.

Enterprise Products Partners Trading Up 1.0 %

The firm has a 50-day moving average price of $32.50 and a 200-day moving average price of $30.49. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $73.64 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 1.60 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 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 firm had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same period in the previous year, the business earned $0.60 earnings per share. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 2.67 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a yield of 6.30%. The ex-dividend date is Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s payout ratio is currently 80.15%.

Hedge Funds Weigh In On Enterprise Products Partners

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of Montreal Can boosted its holdings in shares of Enterprise Products Partners by 2.3% during the 2nd quarter. Bank of Montreal Can now owns 25,371 shares of the oil and gas producer’s stock valued at $739,000 after acquiring an additional 570 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Enterprise Products Partners by 46.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 216,741 shares of the oil and gas producer’s stock worth $6,281,000 after purchasing an additional 68,691 shares during the period. Cetera Investment Advisers raised its stake in shares of Enterprise Products Partners by 11.8% in the second quarter. Cetera Investment Advisers now owns 901,468 shares of the oil and gas producer’s stock worth $26,125,000 after buying an additional 95,189 shares during the period. Creekside Partners purchased a new position in shares of Enterprise Products Partners during the 2nd quarter valued at about $463,000. Finally, Clear Rock Advisors LLC grew its stake in shares of Enterprise Products Partners by 8.9% during the 2nd quarter. Clear Rock Advisors LLC now owns 71,273 shares of the oil and gas producer’s stock valued at $2,065,000 after acquiring an additional 5,830 shares during the period. 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.