Enterprise Products Partners (NYSE:EPD) Sees Strong Trading Volume – Should You Buy?

Enterprise Products Partners L.P. (NYSE:EPD) saw strong trading volume on Monday . Approximately 2,022,812 shares were traded during mid-day trading, a decline of 50% from the previous session’s volume of 4,008,280 shares.The stock last traded at $39.0610 and had previously closed at $39.02.

Analysts Set New Price Targets

Several research firms have weighed in on EPD. Truist Financial raised their price target on Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. TD Cowen reaffirmed a “hold” rating and set a $38.00 price objective (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday, August 3rd. The Goldman Sachs Group reissued a “neutral” rating and issued a $38.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Wall Street Zen lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Scotiabank reiterated a “sector perform” rating and set a $40.00 price target (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $40.00.

Enterprise Products Partners Price Performance

The company has a 50-day moving average of $37.89 and a two-hundred day moving average of $37.68. The stock has a market capitalization of $84.11 billion, a PE ratio of 13.52, a P/E/G ratio of 1.28 and a beta of 0.49. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.93 and a quick ratio of 0.66.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, topping the consensus estimate of $0.75 by $0.09. The firm had revenue of $18.27 billion during the quarter, compared to analyst estimates of $13.69 billion. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. Enterprise Products Partners’s revenue for the quarter was up 60.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.66 earnings per share. Sell-side analysts predict that Enterprise Products Partners L.P. will post 3.03 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a dividend of $0.56 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a yield of 5.8%. The ex-dividend date was Friday, July 31st. Enterprise Products Partners’s payout ratio is currently 77.78%.

Hedge Funds Weigh In On Enterprise Products Partners

Several hedge funds and other institutional investors have recently modified their holdings of the company. Sigma Planning Corp raised its holdings in shares of Enterprise Products Partners by 0.8% during the 2nd quarter. Sigma Planning Corp now owns 35,270 shares of the oil and gas producer’s stock valued at $1,297,000 after purchasing an additional 270 shares in the last quarter. Everest Financial Group LLC raised its holdings in Enterprise Products Partners by 3.6% during the first quarter. Everest Financial Group LLC now owns 7,886 shares of the oil and gas producer’s stock valued at $298,000 after buying an additional 271 shares in the last quarter. Renasant Bank lifted its position in shares of Enterprise Products Partners by 1.3% in the second quarter. Renasant Bank now owns 21,160 shares of the oil and gas producer’s stock worth $778,000 after buying an additional 271 shares during the last quarter. Walker Asset Management LLC boosted its stake in shares of Enterprise Products Partners by 1.4% during the 2nd quarter. Walker Asset Management LLC now owns 20,256 shares of the oil and gas producer’s stock worth $745,000 after acquiring an additional 282 shares in the last quarter. Finally, Hobbs Group Advisors LLC increased its holdings in shares of Enterprise Products Partners by 1.4% during the 1st quarter. Hobbs Group Advisors LLC now owns 20,895 shares of the oil and gas producer’s stock valued at $791,000 after acquiring an additional 298 shares during 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. (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.