Enterprise Products Partners (NYSE:EPD) Trading Up 0.6% - Should You Buy?

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report)'s stock price was up 0.6% during trading on Tuesday . The company traded as high as $33.85 and last traded at $33.64. Approximately 1,069,008 shares changed hands during trading, a decline of 78% from the average daily volume of 4,764,664 shares. The stock had previously closed at $33.44.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on EPD shares. Royal Bank of Canada restated an "outperform" rating and set a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Citigroup raised their price objective on shares of Enterprise Products Partners from $36.00 to $37.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. 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 report on Friday, January 3rd. Wells Fargo & Company lowered shares of Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 price objective on the stock. in a report on Wednesday, December 18th. Finally, Wolfe Research lowered shares of Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 10th. 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 stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $34.70.

Enterprise Products Partners Trading Down 0.5 %

The business's 50-day moving average price is $32.60 and its 200 day moving average price is $30.89. The company has a market cap of $72.41 billion, a P/E ratio of 12.42, a P/E/G ratio of 1.38 and a beta of 1.09. 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 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter last year, the firm posted $0.72 EPS. The company's quarterly revenue was down 2.9% on a year-over-year basis. As a group, analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.535 dividend. The ex-dividend date was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.41%. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.53. Enterprise Products Partners's dividend payout ratio is 79.55%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of EPD. Invesco Ltd. grew its position in shares of Enterprise Products Partners by 1.3% during the 4th quarter. Invesco Ltd. now owns 27,076,718 shares of the oil and gas producer's stock worth $849,126,000 after purchasing an additional 359,288 shares in the last quarter. FMR LLC grew its position in shares of Enterprise Products Partners by 2.1% during the 4th quarter. FMR LLC now owns 14,734,295 shares of the oil and gas producer's stock worth $462,067,000 after purchasing an additional 304,997 shares in the last quarter. Kayne Anderson Capital Advisors LP grew its position in shares of Enterprise Products Partners by 16.7% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer's stock worth $426,125,000 after purchasing an additional 1,947,017 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Enterprise Products Partners by 8.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer's stock worth $330,739,000 after purchasing an additional 851,188 shares in the last quarter. Finally, Pathway Financial Advisers LLC grew its position in shares of Enterprise Products Partners by 2,862.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer's stock worth $225,777,000 after purchasing an additional 7,494,224 shares in the last quarter. Institutional investors and hedge funds 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.