Enterprise Products Partners (NYSE:EPD) Trading 0.6% Higher – Should You Buy?

Enterprise Products Partners L.P. (NYSE:EPD)’s share price traded up 0.6% during trading on Monday . The company traded as high as $32.82 and last traded at $32.85. 2,155,044 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 4,564,155 shares. The stock had previously closed at $32.65.

Analysts Set New Price Targets

EPD has been the subject of several analyst reports. Bank of America initiated 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. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research note on Wednesday, December 18th. Scotiabank began coverage on shares of Enterprise Products Partners in a research note on Friday, January 10th. They set a “sector perform” rating and a $33.00 price target on the stock. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $34.44.

Enterprise Products Partners Stock Up 1.7 %

The stock has a market cap of $72.00 billion, a PE ratio of 12.44, a P/E/G ratio of 1.54 and a beta of 1.09. The business has a 50 day moving average price of $32.53 and a 200 day moving average price of $30.54. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a dividend of $0.535 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.44%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.15%.

Hedge Funds Weigh In On Enterprise Products Partners

Several large investors have recently made changes to their positions in EPD. Bank of Montreal Can boosted its stake in shares of Enterprise Products Partners by 2.3% during the 2nd quarter. Bank of Montreal Can now owns 25,371 shares of the oil and gas producer’s stock worth $739,000 after acquiring an additional 570 shares in the last quarter. Park Avenue Securities LLC boosted its position in Enterprise Products Partners by 4.2% during the third quarter. Park Avenue Securities LLC now owns 36,633 shares of the oil and gas producer’s stock worth $1,066,000 after purchasing an additional 1,474 shares in the last quarter. Walnut Private Equity Partners LLC grew its holdings in Enterprise Products Partners by 0.9% in the third quarter. Walnut Private Equity Partners LLC now owns 700,000 shares of the oil and gas producer’s stock valued at $20,520,000 after purchasing an additional 6,000 shares during the period. Chemistry Wealth Management LLC purchased a new stake in shares of Enterprise Products Partners in the third quarter valued at approximately $302,000. Finally, SL Advisors LLC raised its stake in shares of Enterprise Products Partners by 3.1% during the 3rd quarter. SL Advisors LLC now owns 73,064 shares of the oil and gas producer’s stock worth $2,127,000 after buying an additional 2,226 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

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.