Enterprise Products Partners (NYSE:EPD) Trading 0.2% Higher – Should You Buy?

Enterprise Products Partners L.P. (NYSE:EPD) was up 0.2% during trading on Thursday . The stock traded as high as $34.32 and last traded at $34.07. Approximately 909,901 shares changed hands during trading, a decline of 78% from the average daily volume of 4,122,369 shares. The stock had previously closed at $34.00.

Analyst Ratings Changes

Several equities research analysts have commented on EPD shares. Barclays boosted their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Wells Fargo & Company lowered Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a research report on Wednesday, December 18th. Morgan Stanley upped their price target on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 11th. Finally, Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $35.90.

Enterprise Products Partners Stock Up 0.1 %

The firm has a 50 day simple moving average of $33.34 and a two-hundred day simple moving average of $31.49. 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 stock has a market cap of $73.71 billion, a P/E ratio of 12.66, a P/E/G ratio of 1.37 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.05. The firm 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 firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 EPS. Equities research analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a dividend of $0.535 per share. The ex-dividend date was Friday, January 31st. This represents a $2.14 annualized dividend and a yield of 6.29%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s payout ratio is presently 79.55%.

Institutional Trading of Enterprise Products Partners

A number of hedge funds and other institutional investors have recently modified their holdings of EPD. Rosenberg Matthew Hamilton raised its stake in shares of Enterprise Products Partners by 364.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 656 shares in the last quarter. Tidemark LLC raised its stake in shares of Enterprise Products Partners by 54.3% in the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock worth $28,000 after buying an additional 318 shares in the last quarter. Lee Danner & Bass Inc. bought a new stake in shares of Enterprise Products Partners in the 4th quarter worth $29,000. Crowley Wealth Management Inc. bought a new stake in shares of Enterprise Products Partners in the 4th quarter worth $30,000. Finally, National Bank of Canada FI raised its stake in shares of Enterprise Products Partners by 55.4% in the 4th quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock worth $32,000 after buying an additional 360 shares in the last quarter. 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.