Enterprise Products Partners (NYSE:EPD) Shares Up 1.7% – Still a Buy?

Enterprise Products Partners L.P. (NYSE:EPD) shares traded up 1.7% on Friday . The company traded as high as $32.49 and last traded at $32.42. 4,515,024 shares changed hands during trading, a decline of 0% from the average session volume of 4,527,407 shares. The stock had previously closed at $31.89.

Analyst Ratings Changes

EPD has been the subject of a number of recent analyst reports. Scotiabank decreased their price objective on Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating for the company in a report on Tuesday, November 4th. Morgan Stanley decreased their price target on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 26th. Weiss Ratings restated a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. Finally, Stifel Nicolaus upped their price objective on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.00.

Enterprise Products Partners Stock Up 1.7%

The company has a market capitalization of $70.13 billion, a price-to-earnings ratio of 12.05, a price-to-earnings-growth ratio of 2.22 and a beta of 0.67. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04. The business has a 50-day moving average price of $31.29 and a 200-day moving average price of $31.40.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Wednesday, October 29th. The oil and gas producer reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.07). Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The company had revenue of $12.02 billion during the quarter, compared to analysts’ expectations of $11.83 billion. During the same period in the prior year, the business posted $0.65 EPS. The company’s revenue for the quarter was down 12.7% compared to the same quarter last year. As a group, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were given a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 6.7%. The ex-dividend date was Friday, October 31st. Enterprise Products Partners’s dividend payout ratio is 82.26%.

Enterprise Products Partners declared that its board has approved a share repurchase program on Thursday, October 30th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the oil and gas producer to reacquire up to 7.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Institutional Trading of Enterprise Products Partners

A number of hedge funds have recently modified their holdings of the business. CIBC Bancorp USA Inc. purchased a new position in shares of Enterprise Products Partners during the third quarter valued at $292,194,000. Sunbelt Securities Inc. grew its stake in Enterprise Products Partners by 6.1% during the 3rd quarter. Sunbelt Securities Inc. now owns 225,956 shares of the oil and gas producer’s stock valued at $7,066,000 after acquiring an additional 13,008 shares in the last quarter. Fulcrum Asset Management LLP acquired a new position in shares of Enterprise Products Partners in the 3rd quarter valued at about $68,000. Greenline Partners LLC lifted its position in shares of Enterprise Products Partners by 10.2% in the third quarter. Greenline Partners LLC now owns 76,032 shares of the oil and gas producer’s stock worth $2,378,000 after purchasing an additional 7,010 shares in the last quarter. Finally, Keystone Financial Group boosted its holdings in shares of Enterprise Products Partners by 21.5% during the third quarter. Keystone Financial Group now owns 45,703 shares of the oil and gas producer’s stock worth $1,430,000 after purchasing an additional 8,080 shares during the period. 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.