Enterprise Products Partners (NYSE:EPD) Trading Up 2.1% – Should You Buy?

Enterprise Products Partners L.P. (NYSE:EPD) rose 2.1% during trading on Wednesday . The stock traded as high as $39.16 and last traded at $39.09. 2,585,902 shares traded hands during trading, a decline of 36% from the average daily volume of 4,051,037 shares. The stock had previously closed at $38.27.

Wall Street Analyst Weigh In

Several research firms have weighed in on EPD. Stifel Nicolaus boosted their price target on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Scotiabank reissued a “sector perform” rating and issued a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. UBS Group reissued a “buy” rating and issued a $45.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Citigroup reissued a “buy” rating and issued a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Finally, Truist Financial boosted their target price on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

Enterprise Products Partners Trading Up 2.1%

The company has a market cap of $84.41 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 1.26 and a beta of 0.49. The business’s 50 day moving average price is $37.74 and its 200-day moving average price is $37.59. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 1.00.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.09. The firm had revenue of $18.27 billion for the quarter, compared to analysts’ expectations of $13.69 billion. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The business’s revenue was up 60.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 EPS. On average, equities analysts anticipate that Enterprise Products Partners L.P. will post 3.03 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were given a $0.56 dividend. The ex-dividend date of this dividend was Friday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a dividend yield of 5.7%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 77.78%.

Institutional Trading of Enterprise Products Partners

Hedge funds have recently added to or reduced their stakes in the company. Advus Financial Partners LLC boosted its stake in Enterprise Products Partners by 2.2% in the 2nd quarter. Advus Financial Partners LLC now owns 26,248 shares of the oil and gas producer’s stock valued at $965,000 after purchasing an additional 556 shares during the period. First Eagle Investment Management LLC increased its position in Enterprise Products Partners by 0.9% during the 2nd quarter. First Eagle Investment Management LLC now owns 1,958,036 shares of the oil and gas producer’s stock worth $71,977,000 after buying an additional 16,555 shares during the period. Readystate Asset Management LP bought a new position in Enterprise Products Partners during the 2nd quarter worth $353,000. Ameritas Advisory Services LLC lifted its holdings in shares of Enterprise Products Partners by 122.9% during the second quarter. Ameritas Advisory Services LLC now owns 35,349 shares of the oil and gas producer’s stock worth $1,299,000 after buying an additional 19,490 shares in the last quarter. Finally, Wedmont Private Capital boosted its position in shares of Enterprise Products Partners by 19.0% in the second quarter. Wedmont Private Capital now owns 27,771 shares of the oil and gas producer’s stock valued at $1,035,000 after acquiring an additional 4,432 shares during the period. 26.07% of the stock is 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.