Enterprise Products Partners (NYSE:EPD) Trading 2% Higher – Should You Buy?

Enterprise Products Partners L.P. (NYSE:EPD)’s share price traded up 2% during mid-day trading on Thursday . The company traded as high as $36.96 and last traded at $36.7950. 2,918,828 shares were traded during trading, a decline of 34% from the average session volume of 4,395,219 shares. The stock had previously closed at $36.09.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Barclays boosted their target price on shares of Enterprise Products Partners from $38.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, March 5th. Wolfe Research raised shares of Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. UBS Group restated a “buy” rating and set a $45.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Royal Bank Of Canada upped their target price on Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, March 30th. Finally, Truist Financial raised their target price on Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a report on Monday, May 4th. Nine research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $39.94.

Enterprise Products Partners Stock Up 2.0%

The company has a market capitalization of $79.54 billion, a P/E ratio of 13.63, a price-to-earnings-growth ratio of 1.32 and a beta of 0.49. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. The firm’s fifty day moving average is $37.82 and its 200-day moving average is $35.93.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The company had revenue of $14.39 billion for the quarter, compared to analyst estimates of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.Enterprise Products Partners’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.64 earnings per share. As a group, equities research analysts predict that Enterprise Products Partners L.P. will post 2.98 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were issued a dividend of $0.55 per share. The ex-dividend date was Thursday, April 30th. This represents a $2.20 annualized dividend and a dividend yield of 6.0%. Enterprise Products Partners’s dividend payout ratio is 81.48%.

Institutional Investors Weigh In On Enterprise Products Partners

Several hedge funds have recently modified their holdings of the company. PMV Capital Advisers LLC acquired a new position in Enterprise Products Partners in the 4th quarter worth about $25,000. Palisade Asset Management LLC bought a new position in Enterprise Products Partners in the third quarter valued at about $31,000. Texas Capital Bancshares Inc TX acquired a new stake in shares of Enterprise Products Partners during the third quarter valued at about $32,000. Daytona Street Capital LLC acquired a new stake in shares of Enterprise Products Partners during the fourth quarter valued at about $42,000. Finally, Groesbeck Investment Management Corp NJ bought a new stake in shares of Enterprise Products Partners during the fourth quarter worth about $45,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.