Enterprise Products Partners (NYSE:EPD) Trading Up 0.4% – Should You Buy?

Enterprise Products Partners L.P. (NYSE:EPD) was up 0.4% during trading on Thursday . The company traded as high as $30.87 and last traded at $30.56. Approximately 957,036 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 4,295,464 shares. The stock had previously closed at $30.45.

Analysts Set New Price Targets

A number of brokerages have issued reports on EPD. Royal Bank of Canada restated an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Bank of America started coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective for the company. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report 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 objective for the company. in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.20.

Enterprise Products Partners Price Performance

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 cap of $66.50 billion, a price-to-earnings ratio of 11.49, a P/E/G ratio of 1.67 and a beta of 1.08. The company has a 50 day simple moving average of $30.90 and a 200-day simple moving average of $29.72.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS 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 the consensus estimate of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 EPS. Research analysts expect that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 6.84%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 78.65%.

Institutional Investors Weigh In On Enterprise Products Partners

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