Enterprise Products Partners (NYSE:EPD) Shares Up 1.8% - Still a Buy?

Shares of Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) shot up 1.8% during trading on Wednesday . The company traded as high as $29.83 and last traded at $29.82. 1,671,421 shares were traded during trading, a decline of 61% from the average session volume of 4,281,503 shares. The stock had previously closed at $29.30.

Analysts Set New Price Targets

A number of brokerages have recently commented on EPD. Royal Bank of Canada reissued an "outperform" rating and set a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. US Capital Advisors raised Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, October 28th. Truist Financial lifted their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. StockNews.com lowered Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a research note on Monday, August 12th. Finally, Bank of America initiated coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a "buy" rating and a $35.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $34.00.

Enterprise Products Partners Stock Performance

The company has a market cap of $65.07 billion, a PE ratio of 11.23, a PEG ratio of 1.31 and a beta of 1.04. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The company has a 50-day moving average of $29.24 and a 200-day moving average of $28.97.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings data 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). The business had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.39%. The firm's revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.60 EPS. As a group, analysts anticipate that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.525 per share. The ex-dividend date is Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 7.00%. Enterprise Products Partners's payout ratio is 78.65%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in EPD. Norden Group LLC bought a new position in shares of Enterprise Products Partners during the 1st quarter worth $587,000. GSA Capital Partners LLP boosted its stake in Enterprise Products Partners by 135.2% in the 1st 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. Chevy Chase Trust Holdings LLC bought a new position in Enterprise Products Partners in the 1st quarter worth about $219,000. Rehmann Capital Advisory Group boosted its stake in Enterprise Products Partners by 7.6% in the 1st quarter. Rehmann Capital Advisory Group now owns 18,017 shares of the oil and gas producer's stock worth $526,000 after purchasing an additional 1,272 shares during the period. Finally, Larson Financial Group LLC boosted its stake in Enterprise Products Partners by 7.2% in the 1st quarter. Larson Financial Group LLC now owns 11,045 shares of the oil and gas producer's stock worth $322,000 after purchasing an additional 746 shares during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.