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

Enterprise Products Partners L.P. (NYSE:EPD) shares were up 0.3% on Wednesday . The company traded as high as $32.37 and last traded at $32.30. Approximately 594,179 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 4,314,228 shares. The stock had previously closed at $32.19.

Analyst Upgrades and Downgrades

EPD has been the topic of several research reports. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Bank of America started coverage on Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. One equities research 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $34.00.

Enterprise Products Partners Stock Down 0.6 %

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 firm’s 50 day moving average price is $30.74 and its two-hundred day moving average price is $29.62. The firm has a market capitalization of $69.77 billion, a PE ratio of 12.10, a P/E/G ratio of 1.67 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last posted 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). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same period in the prior year, the company earned $0.60 earnings per share. The company’s revenue was up 14.8% on a year-over-year basis. As a group, research analysts forecast 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 disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 6.52%. The ex-dividend date of this dividend was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 78.65%.

Institutional Trading of Enterprise Products Partners

Several institutional investors have recently added to or reduced their stakes in EPD. Hantz Financial Services Inc. acquired a new position in shares of Enterprise Products Partners in the 2nd quarter valued at about $25,000. Mascoma Wealth Management LLC acquired a new position in Enterprise Products Partners in the second quarter valued at approximately $29,000. DiNuzzo Private Wealth Inc. grew its holdings in shares of Enterprise Products Partners by 1,000.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 1,000 shares during the last quarter. Assetmark Inc. raised its position in shares of Enterprise Products Partners by 19,800.0% during the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after purchasing an additional 1,188 shares during the period. Finally, Sanctuary Wealth Management L.L.C. acquired a new position in Enterprise Products Partners during the 3rd quarter valued at approximately $36,000. Institutional investors 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.