Enterprise Products Partners (NYSE:EPD) Stock Price Up 2.6% - Still a Buy?

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) shares rose 2.6% on Monday . The company traded as high as $30.41 and last traded at $30.41. Approximately 1,430,433 shares were traded during trading, a decline of 67% from the average daily volume of 4,371,882 shares. The stock had previously closed at $29.63.

Wall Street Analyst Weigh In

EPD has been the subject of several recent research reports. Wells Fargo & Company cut Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 price target for the company. in a research note on Wednesday, December 18th. Royal Bank of Canada restated an "outperform" rating and set a $37.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Barclays lifted their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company an "overweight" rating in a research note on Friday, March 14th. Wolfe Research downgraded shares of Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 10th. Finally, Scotiabank boosted their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a "sector perform" rating in a research report on Thursday, March 6th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $36.89.

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Enterprise Products Partners Stock Up 3.1 %

The firm has a 50-day moving average price of $32.84 and a two-hundred day moving average price of $31.86. The company has a market capitalization of $66.18 billion, a P/E ratio of 11.36, a PEG ratio of 1.37 and a beta of 0.78. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping 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 company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period last year, the business posted $0.72 EPS. The business's quarterly revenue was down 2.9% on a year-over-year basis. Equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be given a $0.535 dividend. The ex-dividend date is Wednesday, April 30th. This represents a $2.14 annualized dividend and a yield of 7.00%. Enterprise Products Partners's dividend payout ratio (DPR) is currently 79.55%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Verity & Verity LLC lifted its stake in Enterprise Products Partners by 30.8% during the fourth quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer's stock worth $3,470,000 after purchasing an additional 26,032 shares during the period. Spinnaker Trust bought a new position in shares of Enterprise Products Partners during the 4th quarter worth approximately $280,000. FourThought Financial Partners LLC boosted its stake in Enterprise Products Partners by 18.5% in the 4th quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer's stock valued at $4,407,000 after buying an additional 21,970 shares in the last quarter. Peapack Gladstone Financial Corp grew its position in Enterprise Products Partners by 61.7% in the third quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer's stock valued at $3,954,000 after acquiring an additional 51,809 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its stake in Enterprise Products Partners by 7.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 310,132 shares of the oil and gas producer's stock worth $9,726,000 after acquiring an additional 21,192 shares in the last quarter. 26.07% of the stock is owned by institutional investors.

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.

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