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

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) traded up 0.3% during mid-day trading on Wednesday . The company traded as high as $34.02 and last traded at $33.80. 771,892 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 4,120,837 shares. The stock had previously closed at $33.71.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Wells Fargo & Company lowered 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. Scotiabank assumed coverage on Enterprise Products Partners in a research note on Friday, January 10th. They set a "sector perform" rating and a $33.00 price objective for the company. US Capital Advisors upgraded Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, October 28th. Bank of America initiated coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They set a "buy" rating and a $35.00 price target for the company. Finally, Truist Financial boosted their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a "buy" rating in a research note on Friday, January 3rd. Four 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 company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $34.60.

Enterprise Products Partners Price Performance

The business has a 50-day simple moving average of $32.53 and a two-hundred day simple moving average of $30.53. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $70.87 billion, a price-to-earnings ratio of 12.25, a P/E/G ratio of 1.59 and a beta of 1.09.

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 for the quarter, missing the consensus estimate of $0.66 by ($0.01). The firm had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company's quarterly revenue 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, research analysts predict that Enterprise Products Partners L.P. will post 2.67 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a dividend of $0.535 per share. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.53. The ex-dividend date is Friday, January 31st. This represents a $2.14 annualized dividend and a dividend yield of 6.55%. Enterprise Products Partners's dividend payout ratio (DPR) is 78.65%.

Institutional Trading of Enterprise Products Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of Montreal Can increased its holdings in shares of Enterprise Products Partners by 2.3% in the second quarter. Bank of Montreal Can now owns 25,371 shares of the oil and gas producer's stock valued at $739,000 after buying an additional 570 shares in the last quarter. Silvia Mccoll Wealth Management LLC raised its position in shares of Enterprise Products Partners by 3.1% during the third quarter. Silvia Mccoll Wealth Management LLC now owns 21,502 shares of the oil and gas producer's stock worth $626,000 after purchasing an additional 640 shares during the period. Park Avenue Securities LLC lifted its holdings in shares of Enterprise Products Partners by 4.2% during the third quarter. Park Avenue Securities LLC now owns 36,633 shares of the oil and gas producer's stock valued at $1,066,000 after purchasing an additional 1,474 shares during the last quarter. Duncan Williams Asset Management LLC acquired a new position in shares of Enterprise Products Partners in the 3rd quarter valued at $226,000. Finally, Cullen Investment Group LTD. increased its stake in Enterprise Products Partners by 0.8% in the 3rd quarter. Cullen Investment Group LTD. now owns 258,806 shares of the oil and gas producer's stock worth $7,534,000 after purchasing an additional 1,979 shares in the last quarter. 26.07% of the stock is currently 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.