Enterprise Products Partners (NYSE:EPD) Stock Price Up 0% – Still a Buy?

Enterprise Products Partners L.P. (NYSE:EPD) shot up 0% during trading on Friday . The company traded as high as $33.95 and last traded at $33.67. 794,310 shares were traded during mid-day trading, a decline of 79% from the average session volume of 3,752,877 shares. The stock had previously closed at $33.67.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on EPD shares. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Bank of America assumed 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. Scotiabank started coverage on Enterprise Products Partners in a report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price target for the company. 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 on the stock. in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $34.60.

Enterprise Products Partners Stock Performance

The stock’s fifty day simple moving average is $32.38 and its 200-day simple moving average is $30.39. 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 company has a market capitalization of $72.81 billion, a PE ratio of 12.58, a PEG ratio of 1.60 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data 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 net margin of 10.32% and a return on equity of 20.31%. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.60 earnings per share. On average, research analysts predict that Enterprise Products Partners L.P. will post 2.67 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 6.37%. The ex-dividend date is Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s payout ratio is 78.65%.

Institutional Investors Weigh In On Enterprise Products Partners

Large investors have recently added to or reduced their stakes in the business. Rosenberg Matthew Hamilton lifted its holdings in shares of Enterprise Products Partners by 364.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 656 shares in the last quarter. DiNuzzo Private Wealth Inc. raised 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. lifted its stake in 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 in the last quarter. Sanctuary Wealth Management L.L.C. acquired a new stake in Enterprise Products Partners during the 3rd quarter valued at $36,000. Finally, Bangor Savings Bank increased its position in Enterprise Products Partners by 558.3% during the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after buying an additional 1,072 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

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.