Enterprise Products Partners (NYSE:EPD) Hits New 12-Month High - Should You Buy?

Shares of Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $30.57 and last traded at $30.56, with a volume of 134420 shares. The stock had previously closed at $30.42.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. US Capital Advisors raised shares of Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, October 28th. Truist Financial boosted their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a "buy" rating in a research report on Wednesday, July 31st. StockNews.com downgraded shares of Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 12th. Bank of America assumed coverage on shares of 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, Royal Bank of Canada reissued an "outperform" rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $34.00.

Enterprise Products Partners Trading Up 0.5 %

The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. The business's fifty day simple moving average is $29.28 and its two-hundred day simple moving average is $28.99. The stock has a market capitalization of $66.34 billion, a P/E ratio of 11.45, a P/E/G ratio of 1.57 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share 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 20.39%. The company had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same period last year, the company earned $0.60 earnings per share. Enterprise Products Partners's revenue for the quarter was up 14.8% on a year-over-year basis. As a group, analysts forecast that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 6.87%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners's dividend payout ratio is 78.65%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EPD. GSA Capital Partners LLP lifted its stake in Enterprise Products Partners by 135.2% during the first quarter. GSA Capital Partners LLP now owns 22,030 shares of the oil and gas producer's stock worth $643,000 after purchasing an additional 12,663 shares during the period. SG Americas Securities LLC bought a new position in shares of Enterprise Products Partners in the first quarter valued at approximately $212,000. Sei Investments Co. raised its stake in shares of Enterprise Products Partners by 1.1% in the first quarter. Sei Investments Co. now owns 1,136,614 shares of the oil and gas producer's stock valued at $33,166,000 after acquiring an additional 11,864 shares during the last quarter. QRG Capital Management Inc. raised its stake in shares of Enterprise Products Partners by 8.1% in the first quarter. QRG Capital Management Inc. now owns 9,007 shares of the oil and gas producer's stock valued at $263,000 after acquiring an additional 677 shares during the last quarter. Finally, Heritage Wealth Advisors raised its stake in shares of Enterprise Products Partners by 7.5% in the first quarter. Heritage Wealth Advisors now owns 373,216 shares of the oil and gas producer's stock valued at $10,890,000 after acquiring an additional 25,939 shares during the last quarter. 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.