Enterprise Products Partners (NYSE:EPD) Trading 0.4% Higher – Still a Buy?

Enterprise Products Partners L.P. (NYSE:EPD)’s share price shot up 0.4% on Tuesday . The company traded as high as $29.46 and last traded at $29.25. Approximately 1,153,680 shares were traded during mid-day trading, a decline of 73% from the average session volume of 4,279,219 shares. The stock had previously closed at $29.13.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on EPD shares. 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. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Bank of America initiated 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. Finally, Truist Financial raised their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $34.00.

Enterprise Products Partners Trading Up 1.0 %

The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The firm’s 50 day simple moving average is $29.24 and its two-hundred day simple moving average is $28.97. The stock has a market cap of $65.68 billion, a P/E ratio of 11.33, a price-to-earnings-growth ratio of 1.33 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.39% and a net margin of 10.32%. The company had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter last year, the firm posted $0.60 earnings per share. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, equities research analysts predict that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 6.94%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is presently 78.65%.

Hedge Funds Weigh In On Enterprise Products Partners

Several hedge funds and other institutional investors have recently modified their holdings of EPD. Curi RMB Capital LLC increased its stake in Enterprise Products Partners by 0.5% during the 3rd quarter. Curi RMB Capital LLC now owns 73,828 shares of the oil and gas producer’s stock worth $2,149,000 after purchasing an additional 339 shares in the last quarter. Princeton Global Asset Management LLC increased its holdings in shares of Enterprise Products Partners by 4.9% in the third quarter. Princeton Global Asset Management LLC now owns 7,510 shares of the oil and gas producer’s stock valued at $219,000 after purchasing an additional 350 shares during the last quarter. Strategic Wealth Partners Ltd. lifted its position in Enterprise Products Partners by 3.8% during the third quarter. Strategic Wealth Partners Ltd. now owns 9,731 shares of the oil and gas producer’s stock worth $283,000 after acquiring an additional 353 shares during the last quarter. Cadence Bank grew its holdings in Enterprise Products Partners by 0.7% in the 1st quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock valued at $1,530,000 after buying an additional 365 shares in the last quarter. Finally, McAdam LLC increased its position in Enterprise Products Partners by 1.3% during the second quarter. McAdam LLC now owns 28,670 shares of the oil and gas producer’s stock worth $831,000 after acquiring an additional 372 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.