Enterprise Products Partners (NYSE:EPD) Trading 0.4% Higher - Time to Buy?

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) shares were up 0.4% on Tuesday . The stock traded as high as $34.33 and last traded at $34.27. Approximately 888,529 shares were traded during trading, a decline of 79% from the average daily volume of 4,206,219 shares. The stock had previously closed at $34.14.

Wall Street Analyst Weigh In

EPD has been the topic of several recent analyst reports. Morgan Stanley raised their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an "equal weight" rating in a report on Tuesday, March 11th. Barclays upped their target price 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. JPMorgan Chase & Co. boosted their price target on Enterprise Products Partners from $37.00 to $38.00 and gave the stock an "overweight" rating in a report on Thursday, March 27th. Scotiabank raised their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the company a "sector perform" rating in a research note on Thursday, March 6th. Finally, Citigroup reissued a "buy" rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Enterprise Products Partners has a consensus rating of "Moderate Buy" and a consensus target price of $36.60.

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Enterprise Products Partners Stock Down 1.7 %

The company has a market cap of $72.46 billion, a P/E ratio of 12.44, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08. The firm's 50 day moving average price is $33.47 and its two-hundred day moving average price is $31.83. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the prior year, the business earned $0.72 earnings per share. The business's quarterly revenue was down 2.9% compared to the same quarter last year. Equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a dividend of $0.535 per share. 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 6.40%. The ex-dividend date was Friday, January 31st. Enterprise Products Partners's dividend payout ratio (DPR) is 79.55%.

Institutional Investors Weigh In On Enterprise Products Partners

Several large investors have recently made changes to their positions in EPD. Townsquare Capital LLC raised its position in Enterprise Products Partners by 35.0% in the third quarter. Townsquare Capital LLC now owns 23,920 shares of the oil and gas producer's stock worth $696,000 after acquiring an additional 6,203 shares during the period. Chevy Chase Trust Holdings LLC raised its holdings in shares of Enterprise Products Partners by 11.3% in the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 8,350 shares of the oil and gas producer's stock worth $243,000 after purchasing an additional 850 shares during the period. Integrated Wealth Concepts LLC lifted its stake in Enterprise Products Partners by 0.5% in the third quarter. Integrated Wealth Concepts LLC now owns 122,371 shares of the oil and gas producer's stock valued at $3,562,000 after purchasing an additional 669 shares during the last quarter. IHT Wealth Management LLC grew its holdings in Enterprise Products Partners by 17.0% during the third quarter. IHT Wealth Management LLC now owns 71,335 shares of the oil and gas producer's stock valued at $2,080,000 after purchasing an additional 10,350 shares during the period. Finally, Mission Creek Capital Partners Inc. purchased a new stake in Enterprise Products Partners in the third quarter worth $245,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

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.