Enterprise Products Partners (NYSE:EPD) Shares Up 0.3% – Still a Buy?

Enterprise Products Partners L.P. (NYSE:EPD)’s share price was up 0.3% on Tuesday . The company traded as high as $33.83 and last traded at $33.55. Approximately 1,765,653 shares were traded during trading, a decline of 57% from the average daily volume of 4,096,636 shares. The stock had previously closed at $33.45.

Analysts Set New Price Targets

Several research analysts have commented on the company. Truist Financial raised their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Scotiabank initiated coverage on Enterprise Products Partners in a research note on Friday, January 10th. They set a “sector perform” rating and a $33.00 target price for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Enterprise Products Partners currently has an average rating of “Moderate Buy” and an average price target of $34.60.

Enterprise Products Partners Stock Up 1.0 %

The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The company has a market cap of $73.64 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 1.60 and a beta of 1.09. The firm’s 50 day simple moving average is $32.50 and its 200 day simple moving average is $30.49.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). The firm had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.60 earnings per share. Sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.67 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a $0.535 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 6.30%. The ex-dividend date is Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is currently 80.15%.

Institutional Investors Weigh In On Enterprise Products Partners

Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC increased its position in Enterprise Products Partners by 9.3% during the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after acquiring an additional 1,225,988 shares during the period. Pathway Financial Advisers LLC grew its holdings in shares of Enterprise Products Partners by 2,862.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock worth $225,777,000 after purchasing an additional 7,494,224 shares in the last quarter. Hamlin Capital Management LLC increased its position in shares of Enterprise Products Partners by 0.5% during the third quarter. Hamlin Capital Management LLC now owns 4,923,948 shares of the oil and gas producer’s stock valued at $143,336,000 after purchasing an additional 24,335 shares during the period. Brookfield Corp ON lifted its position in Enterprise Products Partners by 6.2% in the third quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock worth $138,639,000 after purchasing an additional 278,892 shares during the period. Finally, Thrivent Financial for Lutherans boosted its stake in Enterprise Products Partners by 5.2% during the third quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock worth $118,561,000 after buying an additional 200,625 shares in the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Company Profile

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.