Enterprise Products Partners (NYSE:EPD) Trading Up 1.5% – Time to Buy?

Enterprise Products Partners L.P. (NYSE:EPD) was up 1.5% during mid-day trading on Wednesday . The stock traded as high as $31.67 and last traded at $31.49. Approximately 1,674,677 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 4,304,995 shares. The stock had previously closed at $31.01.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on EPD shares. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research note on Wednesday, December 18th. Royal Bank of Canada reissued an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Bank of America assumed coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price for the company. Finally, US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.20.

Enterprise Products Partners Stock Performance

The stock has a 50-day moving average of $31.12 and a 200 day moving average of $29.82. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The firm has a market capitalization of $67.50 billion, a P/E ratio of 11.66, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same period in the prior year, the firm earned $0.60 earnings per share. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. On average, research analysts anticipate that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a dividend of $0.525 per share. The ex-dividend date was Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 6.74%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 78.65%.

Institutional Trading of Enterprise Products Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC raised its stake in shares of Enterprise Products Partners by 2,862.8% during the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock worth $225,777,000 after buying an additional 7,494,224 shares during the last quarter. Barclays PLC lifted its stake in shares of Enterprise Products Partners by 110.0% in the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock valued at $73,699,000 after purchasing an additional 1,326,010 shares during the period. International Assets Investment Management LLC boosted its position in shares of Enterprise Products Partners by 2,854.1% in the 3rd quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock worth $37,474,000 after purchasing an additional 1,243,741 shares during the last quarter. FMR LLC grew its stake in shares of Enterprise Products Partners by 9.3% during the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after purchasing an additional 1,225,988 shares during the period. Finally, Merewether Investment Management LP acquired a new position in Enterprise Products Partners in the third quarter valued at about $30,746,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Company Profile

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.