Enterprise Products Partners (NYSE:EPD) Trading 0.3% Higher - Time to Buy?

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) shares traded up 0.3% during mid-day trading on Tuesday . The stock traded as high as $33.83 and last traded at $33.55. 1,765,653 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 4,096,636 shares. The stock had previously closed at $33.45.

Wall Street Analysts Forecast Growth

Several 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. Scotiabank started coverage on Enterprise Products Partners in a report on Friday, January 10th. They issued a "sector perform" rating and a $33.00 price objective on the stock. Royal Bank of Canada reissued an "outperform" rating and set a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Wolfe Research downgraded Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 10th. Finally, US Capital Advisors upgraded Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, October 28th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Enterprise Products Partners has an average rating of "Moderate Buy" and a consensus price target of $34.60.

Enterprise Products Partners Price Performance

The company has a market cap of $70.84 billion, a price-to-earnings ratio of 12.24, a price-to-earnings-growth ratio of 1.59 and a beta of 1.09. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The company has a fifty day simple moving average of $32.53 and a two-hundred day simple moving average of $30.51.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). The business had revenue of $13.78 billion for the quarter, compared to analysts' expectations of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business's revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.60 earnings per share. On average, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.67 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a dividend of $0.535 per share. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a dividend yield of 6.55%. The ex-dividend date is Friday, January 31st. Enterprise Products Partners's payout ratio is currently 78.65%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of large investors have recently bought and sold shares of the stock. Rosenberg Matthew Hamilton lifted its stake in shares of Enterprise Products Partners by 364.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer's stock valued at $26,000 after buying an additional 656 shares during the period. DiNuzzo Private Wealth Inc. raised its holdings in Enterprise Products Partners by 1,000.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer's stock valued at $32,000 after acquiring an additional 1,000 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Enterprise Products Partners by 19,800.0% during the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer's stock worth $35,000 after purchasing an additional 1,188 shares during the period. Sanctuary Wealth Management L.L.C. acquired a new stake in shares of Enterprise Products Partners during the third quarter worth $36,000. Finally, Bangor Savings Bank grew its position in shares of Enterprise Products Partners by 558.3% in the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer's stock valued at $40,000 after purchasing an additional 1,072 shares during the period. Institutional investors and hedge funds 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.