Enterprise Products Partners (NYSE:EPD) Trading 0.1% Higher – Time to Buy?

Enterprise Products Partners L.P. (NYSE:EPD) traded up 0.1% on Tuesday . The stock traded as high as $32.45 and last traded at $32.37. 1,156,723 shares traded hands during trading, a decline of 73% from the average session volume of 4,284,717 shares. The stock had previously closed at $32.34.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Truist Financial increased their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Royal Bank of Canada reissued an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Finally, Bank of America began coverage on Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target on the stock. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $34.00.

Enterprise Products Partners Trading Up 1.8 %

The stock has a fifty day moving average of $29.77 and a 200 day moving average of $29.22. The company has a market capitalization of $71.36 billion, a P/E ratio of 12.12, a PEG ratio of 1.69 and a beta of 1.04. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The business had revenue of $13.78 billion for 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%. Enterprise Products Partners’s revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 earnings per share. As a group, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were given a dividend of $0.525 per share. The ex-dividend date was Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.38%. Enterprise Products Partners’s payout ratio is 78.65%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of EPD. Peapack Gladstone Financial Corp raised its stake in shares of Enterprise Products Partners by 61.7% during the third quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock valued at $3,954,000 after acquiring an additional 51,809 shares in the last quarter. Synovus Financial Corp raised its stake in Enterprise Products Partners by 20.0% in the third quarter. Synovus Financial Corp now owns 50,140 shares of the oil and gas producer’s stock worth $1,460,000 after buying an additional 8,361 shares in the last quarter. Optimist Retirement Group LLC raised its stake in Enterprise Products Partners by 3.3% in the third quarter. Optimist Retirement Group LLC now owns 67,080 shares of the oil and gas producer’s stock worth $1,953,000 after buying an additional 2,152 shares in the last quarter. Wilmington Savings Fund Society FSB raised its stake in Enterprise Products Partners by 1,183.4% in the third quarter. Wilmington Savings Fund Society FSB now owns 91,725 shares of the oil and gas producer’s stock worth $2,670,000 after buying an additional 84,578 shares in the last quarter. Finally, Arvest Bank Trust Division bought a new position in Enterprise Products Partners in the third quarter worth approximately $445,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

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.