Enterprise Products Partners (NYSE:EPD) Shares Up 0.7% – Still a Buy?

Enterprise Products Partners L.P. (NYSE:EPD) rose 0.7% on Wednesday . The stock traded as high as $29.39 and last traded at $29.30. Approximately 1,304,265 shares traded hands during trading, a decline of 69% from the average daily volume of 4,270,906 shares. The stock had previously closed at $29.10.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Truist Financial raised their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Bank of America started coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target for the company. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Enterprise Products Partners currently has an average rating of “Buy” and an average target price of $33.73.

Enterprise Products Partners Price Performance

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91. The company has a 50-day moving average price of $29.23 and a 200-day moving average price of $28.94. The company has a market capitalization of $62.57 billion, a price-to-earnings ratio of 10.79, a price-to-earnings-growth ratio of 1.33 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last issued 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 during the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter in the previous year, the business posted $0.60 EPS. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities research analysts expect that Enterprise Products Partners L.P. will post 2.7 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.525 per share. The ex-dividend date is Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.28%. Enterprise Products Partners’s dividend payout ratio is presently 78.65%.

Institutional Trading of Enterprise Products Partners

Institutional investors and hedge funds have recently modified their holdings of the business. Princeton Global Asset Management LLC lifted its stake in shares of Enterprise Products Partners by 4.9% in the 3rd 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 period. Strategic Wealth Partners Ltd. grew its holdings in shares of Enterprise Products Partners by 3.8% in 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 period. Cadence Bank grew its holdings in Enterprise Products Partners by 0.7% during the first quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock valued at $1,530,000 after purchasing an additional 365 shares during the period. McAdam LLC grew its holdings 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 valued at $831,000 after purchasing an additional 372 shares during the period. Finally, Ellenbecker Investment Group lifted its position in shares of Enterprise Products Partners by 1.5% in the third quarter. Ellenbecker Investment Group now owns 25,247 shares of the oil and gas producer’s stock valued at $735,000 after acquiring an additional 374 shares in the last quarter. Hedge funds and other 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.