Enterprise Products Partners (NYSE:EPD) Trading 2.6% Higher – Should You Buy?

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price was up 2.6% on Friday . The company traded as high as $34.62 and last traded at $34.54. Approximately 1,955,404 shares traded hands during trading, a decline of 55% from the average daily volume of 4,298,532 shares. The stock had previously closed at $33.65.

Analysts Set New Price Targets

A number of brokerages have weighed in on EPD. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Bank of America initiated coverage on Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Finally, US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Buy” and an average target price of $34.00.

Enterprise Products Partners Stock Up 2.3 %

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 firm has a 50-day moving average of $30.01 and a 200 day moving average of $29.31. The stock has a market capitalization of $74.63 billion, a price-to-earnings ratio of 12.94, a price-to-earnings-growth ratio of 1.74 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last posted its 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 20.31% and a net margin of 10.32%. The firm had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same period in the previous year, the firm posted $0.60 earnings per share. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.10%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners’s payout ratio is 78.65%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of hedge funds have recently bought and sold shares of the business. Paragon Advisors LLC acquired a new stake in shares of Enterprise Products Partners during the third quarter worth approximately $2,628,000. Thrivent Financial for Lutherans grew its holdings in Enterprise Products Partners by 5.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock worth $118,561,000 after acquiring an additional 200,625 shares in the last quarter. Brown Brothers Harriman & Co. increased its position in shares of Enterprise Products Partners by 37.7% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 58,510 shares of the oil and gas producer’s stock worth $1,703,000 after purchasing an additional 16,018 shares during the last quarter. Caprock Group LLC acquired a new stake in shares of Enterprise Products Partners in the 3rd quarter valued at about $1,943,000. Finally, Atlanta Consulting Group Advisors LLC bought a new position in shares of Enterprise Products Partners during the third quarter worth about $670,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

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.