Enterprise Products Partners (NYSE:EPD) Trading Up 1.4% – Still a Buy?

Enterprise Products Partners L.P. (NYSE:EPD) shares rose 1.4% on Tuesday . The company traded as high as $39.25 and last traded at $38.6650. 4,652,731 shares were traded during mid-day trading, an increase of 12% from the average daily volume of 4,164,878 shares. The stock had previously closed at $38.12.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on EPD shares. Royal Bank Of Canada increased their target price on Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, March 30th. Truist Financial raised their price objective on Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a report on Monday, May 4th. Stifel Nicolaus lifted their price objective on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Jefferies Financial Group raised their price target on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the company a “hold” rating in a report on Tuesday, March 31st. Finally, TD Cowen reiterated a “hold” rating and set a $38.00 price objective (up from $34.00) on shares of Enterprise Products Partners in a research note on Thursday, April 16th. Eight 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. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $39.93.

Enterprise Products Partners Stock Performance

The stock has a 50 day simple moving average of $37.65 and a 200 day simple moving average of $36.82. The company has a market cap of $83.58 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 1.41 and a beta of 0.49. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results 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 during the quarter, compared to analyst estimates of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. Enterprise Products Partners’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS. As a group, analysts predict that Enterprise Products Partners L.P. will post 2.93 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a $0.56 dividend. The ex-dividend date is Friday, July 31st. This represents a $2.24 dividend on an annualized basis and a yield of 5.8%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 82.96%.

Institutional Trading of Enterprise Products Partners

A number of hedge funds have recently made changes to their positions in the company. Palisade Asset Management LLC purchased a new position in shares of Enterprise Products Partners in the third quarter valued at $31,000. Bravera Wealth increased its stake in Enterprise Products Partners by 666.7% during the 2nd quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock worth $38,000 after buying an additional 900 shares during the period. Daytona Street Capital LLC purchased a new stake in Enterprise Products Partners during the 4th quarter worth $42,000. Groesbeck Investment Management Corp NJ acquired a new position in Enterprise Products Partners in the 4th quarter worth $45,000. Finally, Kestra Investment Management LLC acquired a new position in Enterprise Products Partners in the 2nd quarter worth $48,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Company Profile

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.