Enterprise Products Partners (NYSE:EPD) Trading 0.3% Higher - Should You Buy?

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) was up 0.3% during trading on Wednesday . The company traded as high as $33.96 and last traded at $33.54. Approximately 1,037,592 shares were traded during trading, a decline of 71% from the average daily volume of 3,532,145 shares. The stock had previously closed at $33.45.

Analysts Set New Price Targets

A number of research firms have recently weighed in on EPD. Royal Bank of Canada reissued an "outperform" rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Scotiabank assumed coverage on Enterprise Products Partners in a report on Friday, January 10th. They issued a "sector perform" rating and a $33.00 price target for the company. Wolfe Research lowered Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 10th. Wells Fargo & Company downgraded 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 report on Wednesday, December 18th. Finally, Truist Financial upped their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Enterprise Products Partners has a consensus rating of "Moderate Buy" and a consensus price target of $34.60.

Enterprise Products Partners Stock Down 0.4 %

The firm has a 50-day simple moving average of $31.87 and a 200 day simple moving average of $30.15. The company has a market capitalization of $72.20 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 1.66 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). The company 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 quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 earnings per share. On average, research analysts predict that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a $0.535 dividend. The ex-dividend date of this dividend is Friday, January 31st. 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 6.42%. Enterprise Products Partners's dividend payout ratio is 80.15%.

Institutional Investors Weigh In On Enterprise Products Partners

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

About Enterprise Products Partners

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.