Enterprise Products Partners (NYSE:EPD) Shares Up 0.1% – Time to Buy?

Shares of Enterprise Products Partners L.P. (NYSE:EPD) were up 0.1% during mid-day trading on Wednesday . The company traded as high as $33.40 and last traded at $33.24. Approximately 705,925 shares were traded during trading, a decline of 85% from the average daily volume of 4,746,308 shares. The stock had previously closed at $33.21.

Analyst Ratings Changes

EPD has been the topic of a number of recent analyst reports. 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 on the stock. 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. Scotiabank started coverage on Enterprise Products Partners in a report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price target for the company. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a report on Wednesday, December 18th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Enterprise Products Partners has a consensus rating of “Moderate Buy” and a consensus price target of $34.70.

Enterprise Products Partners Stock Performance

The stock has a market cap of $71.24 billion, a P/E ratio of 12.22, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The firm’s 50 day moving average is $32.48 and its 200 day moving average is $30.70.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The business had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.72 earnings per share. Analysts anticipate that Enterprise Products Partners L.P. will post 2.87 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a $0.535 dividend. This represents a $2.14 annualized dividend and a yield of 6.51%. 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 dividend payout ratio (DPR) is currently 79.55%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Pathway Financial Advisers LLC increased its holdings in 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 buying an additional 7,494,224 shares during the period. Kayne Anderson Capital Advisors LP boosted its holdings in shares of Enterprise Products Partners by 16.7% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock valued at $426,125,000 after acquiring an additional 1,947,017 shares during the last quarter. Barclays PLC increased its stake in shares of Enterprise Products Partners by 110.0% in the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock worth $73,699,000 after acquiring an additional 1,326,010 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Enterprise Products Partners by 2,854.1% during the third quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock worth $37,474,000 after purchasing an additional 1,243,741 shares during the last quarter. Finally, FMR LLC boosted its holdings in Enterprise Products Partners by 9.3% in the third 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 during the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

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.