Enterprise Products Partners (NYSE:EPD) Stock Price Up 1.7% – Should You Buy?

Enterprise Products Partners L.P. (NYSE:EPD) traded up 1.7% during trading on Wednesday . The stock traded as high as $33.42 and last traded at $33.41. 820,444 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 4,285,468 shares. The stock had previously closed at $32.86.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on EPD. Royal Bank of Canada restated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Bank of America started coverage on Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target on the stock. Finally, StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. One equities research 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $34.00.

Enterprise Products Partners Price Performance

The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The company has a market cap of $72.94 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 1.74 and a beta of 1.04. The stock has a 50 day simple moving average of $30.01 and a two-hundred day simple moving average of $29.31.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The firm had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same quarter in the prior year, the firm posted $0.60 EPS. Enterprise Products Partners’s quarterly revenue was up 14.8% compared to the same quarter last year. On average, equities research analysts predict that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 6.24%. Enterprise Products Partners’s dividend payout ratio is currently 78.65%.

Institutional Trading of Enterprise Products Partners

A number of large investors have recently made changes to their positions in EPD. Hantz Financial Services Inc. acquired a new stake in Enterprise Products Partners during the 2nd quarter worth approximately $25,000. Mascoma Wealth Management LLC purchased a new position in Enterprise Products Partners in the 2nd quarter valued at approximately $29,000. DiNuzzo Private Wealth Inc. grew its holdings in 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. grew its holdings in Enterprise Products Partners by 19,800.0% during 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. acquired a new stake in Enterprise Products Partners during the 3rd quarter valued at $36,000. 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.