Enterprise Products Partners (NYSE:EPD) Trading 2.1% Higher – Time to Buy?

Enterprise Products Partners L.P. (NYSE:EPD) shares traded up 2.1% during mid-day trading on Tuesday . The company traded as high as $37.17 and last traded at $37.17. 2,748,532 shares changed hands during trading, a decline of 38% from the average session volume of 4,426,073 shares. The stock had previously closed at $36.42.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on EPD shares. Royal Bank Of Canada lifted their price target on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, March 30th. Jefferies Financial Group lifted their target price on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the company a “hold” rating in a research report on Tuesday, March 31st. JPMorgan Chase & Co. upped their target price on shares of Enterprise Products Partners from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Weiss Ratings raised shares of Enterprise Products Partners from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, June 15th. Finally, Truist Financial upped their price objective on Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a research note on Monday, May 4th. Nine investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Hold” and an average target price of $39.94.

Enterprise Products Partners Trading Up 2.1%

The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. The company has a market cap of $80.35 billion, a P/E ratio of 13.77, a P/E/G ratio of 1.30 and a beta of 0.49. The business has a 50-day moving average price of $37.85 and a two-hundred day moving average price of $35.86.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The business had revenue of $14.39 billion during the quarter, compared to the consensus estimate of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. Enterprise Products Partners’s revenue was down 6.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.64 earnings per share. On average, analysts predict that Enterprise Products Partners L.P. will post 2.98 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date was Thursday, April 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.48%.

Institutional Investors Weigh In On Enterprise Products Partners

Several hedge funds have recently bought and sold shares of the company. Brighton Jones LLC raised its stake in Enterprise Products Partners by 19.9% during the 4th quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock worth $1,023,000 after buying an additional 5,425 shares during the period. Schnieders Capital Management LLC. grew its position in shares of Enterprise Products Partners by 9.3% in the 2nd quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer’s stock valued at $1,827,000 after purchasing an additional 5,000 shares during the period. Geode Capital Management LLC grew its position in shares of Enterprise Products Partners by 6.2% in the 2nd quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer’s stock valued at $1,975,000 after purchasing an additional 3,742 shares during the period. Guggenheim Capital LLC increased its stake in Enterprise Products Partners by 6.1% during the 2nd quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer’s stock worth $847,000 after purchasing an additional 1,578 shares in the last quarter. Finally, Glenview Trust co raised its holdings in Enterprise Products Partners by 315.8% during the 2nd quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer’s stock worth $1,043,000 after buying an additional 25,555 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.