Enterprise Products Partners (NYSE:EPD) Stock Price Up 0.3% - Still a Buy?

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report)'s share price shot up 0.3% during mid-day trading on Friday . The stock traded as high as $33.90 and last traded at $33.76. 689,337 shares changed hands during trading, a decline of 80% from the average session volume of 3,524,442 shares. The stock had previously closed at $33.67.

Analysts Set New Price Targets

A number of research firms recently issued reports on EPD. Royal Bank of Canada restated an "outperform" rating and set a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Scotiabank initiated coverage on Enterprise Products Partners in a report on Friday, January 10th. They issued a "sector perform" rating and a $33.00 price objective for the company. Bank of America initiated coverage on Enterprise Products Partners in a report on Thursday, October 17th. They set a "buy" rating and a $35.00 target price on the stock. Wells Fargo & Company downgraded Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 price target for the company. in a report on Wednesday, December 18th. Finally, Truist Financial raised their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $34.60.

Enterprise Products Partners Stock Down 0.2 %

The stock has a market cap of $72.82 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 1.57 and a beta of 1.09. The business's 50 day moving average is $32.01 and its 200-day moving average is $30.19. 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 earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same quarter last year, the business earned $0.60 EPS. The firm's revenue for the quarter was up 14.8% compared to the same quarter last year. On average, sell-side 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. Shareholders of record on Friday, January 31st will be issued a dividend of $0.535 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.37%. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.53. Enterprise Products Partners's dividend payout ratio is presently 80.15%.

Institutional Trading of Enterprise Products Partners

Institutional investors have recently made changes to their positions in the company. Paragon Advisors LLC purchased a new position in Enterprise Products Partners in the 3rd quarter valued at $2,628,000. FMR LLC raised its position in shares of Enterprise Products Partners by 9.3% in the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer's stock valued at $420,037,000 after buying an additional 1,225,988 shares during the last quarter. Peapack Gladstone Financial Corp lifted its stake in shares of 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 worth $3,954,000 after buying an additional 51,809 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in Enterprise Products Partners by 5.2% during the third quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer's stock worth $118,561,000 after acquiring an additional 200,625 shares during the last quarter. Finally, Brookfield Corp ON grew its stake in Enterprise Products Partners by 6.2% during the 3rd quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer's stock valued at $138,639,000 after acquiring an additional 278,892 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

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.