Enterprise Products Partners (NYSE:EPD) Stock Price Up 0.3% – Time to Buy?

Enterprise Products Partners L.P. (NYSE:EPD) shares shot up 0.3% during mid-day trading on Monday . The company traded as high as $34.35 and last traded at $34.20. 812,888 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 4,209,475 shares. The stock had previously closed at $34.08.

Analyst Ratings Changes

EPD has been the subject of a number of recent research reports. Truist Financial boosted their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Morgan Stanley lifted their price objective on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 11th. Barclays lifted their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. Finally, JPMorgan Chase & Co. increased their price objective on Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.60.

Enterprise Products Partners Stock Performance

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 $74.01 billion, a P/E ratio of 12.70, a PEG ratio of 1.37 and a beta of 1.08. The company has a 50-day simple moving average of $33.46 and a two-hundred day simple moving average of $31.75.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the firm posted $0.72 earnings per share. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.535 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a yield of 6.26%. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners’s payout ratio is presently 79.55%.

Institutional Investors Weigh In On Enterprise Products Partners

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC lifted its position in Enterprise Products Partners by 11.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,068,284 shares of the oil and gas producer’s stock valued at $33,501,000 after purchasing an additional 106,895 shares during the last quarter. NorthCrest Asset Manangement LLC raised its holdings in Enterprise Products Partners by 0.3% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 476,485 shares of the oil and gas producer’s stock worth $14,943,000 after purchasing an additional 1,374 shares in the last quarter. Copia Wealth Management purchased a new position in Enterprise Products Partners during the 4th quarter worth $35,000. Menard Financial Group LLC acquired a new position in shares of Enterprise Products Partners during the fourth quarter valued at about $42,000. Finally, Leigh Baldwin & CO. LLC purchased a new position in Enterprise Products Partners in the 4th quarter worth $291,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. 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.