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

Shares of Enterprise Products Partners L.P. (NYSE:EPD) were up 0.3% during mid-day trading on Thursday . The company traded as high as $29.18 and last traded at $29.05. Approximately 574,400 shares were traded during trading, a decline of 87% from the average daily volume of 4,271,292 shares. The stock had previously closed at $28.97.

Analysts Set New Price Targets

A number of brokerages have weighed in on EPD. Bank of America began coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target for the company. Truist Financial lifted their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Royal Bank of Canada upped their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Enterprise Products Partners currently has an average rating of “Buy” and a consensus target price of $33.73.

Enterprise Products Partners Trading Up 0.4 %

The company has a 50 day moving average of $29.25 and a 200 day moving average of $28.95. The firm has a market cap of $63.19 billion, a price-to-earnings ratio of 11.39, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.02). The firm had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.57 EPS. As a group, research analysts anticipate that Enterprise Products Partners L.P. will post 2.71 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.525 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 7.22%. Enterprise Products Partners’s dividend payout ratio is 82.35%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of EPD. Strategic Wealth Partners Ltd. increased its holdings in Enterprise Products Partners by 3.8% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 9,731 shares of the oil and gas producer’s stock valued at $283,000 after purchasing an additional 353 shares in the last quarter. Cadence Bank raised its holdings in shares of Enterprise Products Partners by 0.7% in the first quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock valued at $1,530,000 after buying an additional 365 shares during the last quarter. McAdam LLC lifted its position in Enterprise Products Partners by 1.3% during the 2nd quarter. McAdam LLC now owns 28,670 shares of the oil and gas producer’s stock worth $831,000 after buying an additional 372 shares in the last quarter. Ellenbecker Investment Group grew its holdings in Enterprise Products Partners by 1.5% during the 3rd quarter. Ellenbecker Investment Group now owns 25,247 shares of the oil and gas producer’s stock worth $735,000 after acquiring an additional 374 shares during the last quarter. Finally, Advisor OS LLC increased its position in Enterprise Products Partners by 1.3% in the 2nd quarter. Advisor OS LLC now owns 29,485 shares of the oil and gas producer’s stock valued at $854,000 after acquiring an additional 379 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

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.