Enterprise Products Partners (NYSE:EPD) Stock Price Up 0.5% – Still a Buy?

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price shot up 0.5% on Friday . The company traded as high as $32.55 and last traded at $32.52. 526,711 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 4,279,968 shares. The stock had previously closed at $32.35.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EPD. Truist Financial lifted their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Bank of America started coverage on Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective on the stock. 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. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research note 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 report on Monday, October 28th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $34.00.

Enterprise Products Partners Price Performance

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 firm has a market capitalization of $71.14 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 1.67 and a beta of 1.04. The business has a 50-day moving average price of $29.72 and a two-hundred day moving average price of $29.19.

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). The firm had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. Enterprise Products Partners’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 EPS. As a group, research analysts forecast that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were given a $0.525 dividend. The ex-dividend date was Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a yield of 6.40%. Enterprise Products Partners’s dividend payout ratio (DPR) is 78.65%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EPD. Hantz Financial Services Inc. acquired a new stake in Enterprise Products Partners in the 2nd quarter valued at about $25,000. Mascoma Wealth Management LLC acquired a new stake in Enterprise Products Partners during the second quarter valued at approximately $29,000. DiNuzzo Private Wealth Inc. boosted its holdings in Enterprise Products Partners by 1,000.0% during the third 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 in the last quarter. Assetmark Inc. grew its position in Enterprise Products Partners by 19,800.0% in 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 during the last quarter. Finally, Sanctuary Wealth Management L.L.C. bought a new position in shares of Enterprise Products Partners in the third quarter valued at $36,000. 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.