Enterprise Products Partners (NYSE:EPD) Shares Up 0.4% – Time to Buy?

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price was up 0.4% during mid-day trading on Friday . The stock traded as high as $29.79 and last traded at $29.76. Approximately 515,230 shares were traded during trading, a decline of 88% from the average daily volume of 4,350,354 shares. The stock had previously closed at $29.64.

Analyst Ratings Changes

A number of brokerages have commented on EPD. Morgan Stanley lowered their target price on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Monday, June 10th. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Finally, Truist Financial lifted their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $33.50.

Enterprise Products Partners Stock Performance

The company has a market cap of $64.50 billion, a price-to-earnings ratio of 11.65, a P/E/G ratio of 1.50 and a beta of 1.03. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68. The firm has a fifty day simple moving average of $29.13 and a 200 day simple moving average of $28.96.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The firm had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The business’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 earnings per share. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be paid a $0.525 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.07%. Enterprise Products Partners’s payout ratio is presently 82.35%.

Institutional Trading of Enterprise Products Partners

Hedge funds have recently added to or reduced their stakes in the business. Blackstone Inc. lifted its holdings in shares of Enterprise Products Partners by 6.3% during the first quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock worth $686,712,000 after buying an additional 1,391,370 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised its stake in Enterprise Products Partners by 4.8% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock valued at $470,091,000 after purchasing an additional 741,237 shares during the last quarter. Energy Income Partners LLC boosted its holdings in Enterprise Products Partners by 0.9% in the 1st quarter. Energy Income Partners LLC now owns 15,618,956 shares of the oil and gas producer’s stock valued at $455,761,000 after purchasing an additional 142,689 shares during the period. Kayne Anderson Capital Advisors LP grew its position in Enterprise Products Partners by 2.6% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 11,175,161 shares of the oil and gas producer’s stock worth $326,091,000 after purchasing an additional 284,772 shares during the last quarter. Finally, Chickasaw Capital Management LLC increased its holdings in shares of Enterprise Products Partners by 1.6% during the 2nd quarter. Chickasaw Capital Management LLC now owns 5,517,617 shares of the oil and gas producer’s stock worth $159,901,000 after purchasing an additional 87,930 shares during the period. 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.