Enterprise Products Partners (NYSE:EPD) Trading Up 1.3% – Still a Buy?

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price shot up 1.3% on Thursday . The company traded as high as $31.80 and last traded at $31.78. 842,761 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 4,278,178 shares. The stock had previously closed at $31.36.

Analysts Set New Price Targets

EPD has been the subject of several recent analyst reports. Bank of America assumed coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Truist Financial boosted their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday. 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. Finally, Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Enterprise Products Partners currently has an average rating of “Moderate Buy” and a consensus target price of $34.50.

Enterprise Products Partners Price Performance

The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The stock has a market cap of $68.99 billion, a PE ratio of 11.92, a PEG ratio of 1.67 and a beta of 1.08. The stock has a 50 day moving average of $31.40 and a two-hundred day moving average of $29.95.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). The firm had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business’s revenue was up 14.8% on a year-over-year basis. During the same period last year, the business earned $0.60 earnings per share. Equities analysts anticipate that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Institutional Investors Weigh In On Enterprise Products Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in EPD. DiNuzzo Private Wealth Inc. increased its holdings in Enterprise Products Partners by 1,000.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock worth $32,000 after buying an additional 1,000 shares during the last quarter. Assetmark Inc. raised its holdings 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 valued at $35,000 after purchasing an additional 1,188 shares in the last quarter. Sanctuary Wealth Management L.L.C. acquired a new stake in shares of Enterprise Products Partners in the 3rd quarter valued at $36,000. Denver PWM LLC bought a new stake in Enterprise Products Partners in the second quarter worth $48,000. Finally, Truvestments Capital LLC acquired a new position in Enterprise Products Partners during the third quarter worth $49,000. 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.