Enterprise Products Partners (NYSE:EPD) Trading 0.3% Higher – Time to Buy?

Shares of Enterprise Products Partners L.P. (NYSE:EPD) rose 0.3% during mid-day trading on Monday . The stock traded as high as $34.35 and last traded at $34.20. Approximately 812,888 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 4,209,475 shares. The stock had previously closed at $34.08.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on EPD. Truist Financial upped their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. raised their price target on Enterprise Products Partners from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, March 27th. Scotiabank boosted their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research report on Thursday, March 6th. Barclays raised their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. Finally, Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Four 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.60.

Enterprise Products Partners Stock Up 0.2 %

The firm’s 50 day simple moving average is $33.47 and its 200-day simple moving average is $31.81. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $74.11 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.05. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. Enterprise Products Partners’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.72 earnings per share. Equities analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.535 dividend. The ex-dividend date was Friday, January 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a dividend yield of 6.25%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 79.55%.

Institutional Trading of Enterprise Products Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Townsquare Capital LLC lifted its stake in Enterprise Products Partners by 35.0% in the 3rd quarter. Townsquare Capital LLC now owns 23,920 shares of the oil and gas producer’s stock valued at $696,000 after purchasing an additional 6,203 shares during the last quarter. Chevy Chase Trust Holdings LLC raised its stake in Enterprise Products Partners by 11.3% in the third quarter. Chevy Chase Trust Holdings LLC now owns 8,350 shares of the oil and gas producer’s stock valued at $243,000 after buying an additional 850 shares during the period. Hilltop Holdings Inc. lifted its position in shares of Enterprise Products Partners by 14.4% in the third quarter. Hilltop Holdings Inc. now owns 103,556 shares of the oil and gas producer’s stock valued at $3,014,000 after buying an additional 12,999 shares during the last quarter. Integrated Wealth Concepts LLC boosted its stake in shares of Enterprise Products Partners by 0.5% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 122,371 shares of the oil and gas producer’s stock worth $3,562,000 after acquiring an additional 669 shares during the period. Finally, IHT Wealth Management LLC increased its holdings in shares of Enterprise Products Partners by 17.0% during the 3rd quarter. IHT Wealth Management LLC now owns 71,335 shares of the oil and gas producer’s stock worth $2,080,000 after acquiring an additional 10,350 shares during the last quarter. 26.07% of the stock is owned by 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.