Enterprise Products Partners (NYSE:EPD) Shares Up 1% – Still a Buy?

Shares of Enterprise Products Partners L.P. (NYSE:EPD) rose 1% during trading on Thursday . The company traded as high as $32.14 and last traded at $32.11. Approximately 599,827 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 4,280,671 shares. The stock had previously closed at $31.79.

Wall Street Analysts Forecast Growth

EPD has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Truist Financial upped their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Bank of America assumed coverage on shares of 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. Finally, US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $34.00.

Enterprise Products Partners Stock Up 1.4 %

The firm’s 50 day simple moving average is $29.72 and its 200 day simple moving average is $29.19. The company has a market cap of $71.12 billion, a price-to-earnings ratio of 12.29, a price-to-earnings-growth ratio of 1.67 and a beta of 1.04. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The firm had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same quarter in the previous year, the business posted $0.60 EPS. Enterprise Products Partners’s revenue for the quarter was up 14.8% compared to the same quarter last year. Sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were paid a $0.525 dividend. The ex-dividend date was Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 6.40%. Enterprise Products Partners’s payout ratio is currently 78.65%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Stock Yards Bank & Trust Co. increased its stake in shares of Enterprise Products Partners by 6.1% during the third quarter. Stock Yards Bank & Trust Co. now owns 60,844 shares of the oil and gas producer’s stock valued at $1,771,000 after acquiring an additional 3,500 shares during the period. Eaton Financial Holdings Company LLC acquired a new position in shares of Enterprise Products Partners during the third quarter valued at approximately $1,066,000. TD Private Client Wealth LLC increased its stake in shares of Enterprise Products Partners by 3.7% during the third quarter. TD Private Client Wealth LLC now owns 100,614 shares of the oil and gas producer’s stock valued at $2,929,000 after acquiring an additional 3,546 shares during the period. Fortem Financial Group LLC increased its stake in shares of Enterprise Products Partners by 25.1% during the third quarter. Fortem Financial Group LLC now owns 26,988 shares of the oil and gas producer’s stock valued at $786,000 after acquiring an additional 5,419 shares during the period. Finally, Asset Allocation Strategies LLC increased its stake in shares of Enterprise Products Partners by 19.5% during the third quarter. Asset Allocation Strategies LLC now owns 18,161 shares of the oil and gas producer’s stock valued at $529,000 after acquiring an additional 2,963 shares during the period. Institutional investors and hedge funds 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.