Enterprise Products Partners (NYSE:EPD) Trading Up 1.2% – Still a Buy?

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price shot up 1.2% on Friday . The stock traded as high as $31.25 and last traded at $31.17. 1,022,887 shares were traded during mid-day trading, a decline of 76% from the average session volume of 4,288,253 shares. The stock had previously closed at $30.81.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EPD. Truist Financial raised their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Bank of America began coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target for the company. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $34.00.

Enterprise Products Partners Stock Up 1.0 %

The company has a current ratio of 1.07, a quick ratio of 0.68 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $67.45 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 1.57 and a beta of 1.04. The firm’s 50 day simple moving average is $29.39 and its 200-day simple moving average is $29.03.

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 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 company had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same period last year, the company earned $0.60 earnings per share. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a $0.525 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a yield of 6.75%. Enterprise Products Partners’s dividend payout ratio (DPR) is 78.65%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Hantz Financial Services Inc. acquired a new stake in Enterprise Products Partners in the second quarter valued at approximately $25,000. Mascoma Wealth Management LLC purchased a new position in shares of Enterprise Products Partners during the 2nd quarter valued at approximately $29,000. DiNuzzo Private Wealth Inc. boosted its stake 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 valued at $32,000 after buying an additional 1,000 shares during the last quarter. Assetmark Inc. lifted its stake in Enterprise Products Partners by 19,800.0% during the third 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 last quarter. Finally, Sanctuary Wealth Management L.L.C. bought a new position in Enterprise Products Partners during the third quarter worth $36,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

About Enterprise Products Partners

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.