Enterprise Products Partners (NYSE:EPD) Trading 0.7% Higher - Time to Buy?

Shares of Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) rose 0.7% on Friday . The company traded as high as $33.18 and last traded at $33.07. Approximately 856,111 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 4,772,387 shares. The stock had previously closed at $32.82.

Analyst Ratings Changes

A number of research firms have issued reports on EPD. Citigroup restated a "buy" rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 price target on the stock. in a research report on Wednesday, December 18th. Truist Financial boosted their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a "buy" rating in a research report on Friday, January 3rd. Wolfe Research cut Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a report on Friday, January 10th. Finally, Scotiabank initiated coverage on Enterprise Products Partners in a report on Friday, January 10th. They set a "sector perform" rating and a $33.00 price target for the company. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $34.70.

Enterprise Products Partners Trading Up 0.7 %

The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The company has a market capitalization of $72.94 billion, a PE ratio of 12.51, a PEG ratio of 1.37 and a beta of 1.09. The stock has a fifty day moving average of $32.85 and a 200 day moving average of $31.12.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.69 by $0.05. The firm had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. Enterprise Products Partners's revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.72 earnings per share. As a group, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a $0.535 dividend. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.36%. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners's payout ratio is currently 79.55%.

Hedge Funds Weigh In On Enterprise Products Partners

Several institutional investors have recently added to or reduced their stakes in EPD. Invesco Ltd. grew its holdings in shares of Enterprise Products Partners by 1.3% in the fourth quarter. Invesco Ltd. now owns 27,076,718 shares of the oil and gas producer's stock valued at $849,126,000 after purchasing an additional 359,288 shares in the last quarter. FMR LLC increased its holdings in shares of Enterprise Products Partners by 2.1% in the 4th quarter. FMR LLC now owns 14,734,295 shares of the oil and gas producer's stock worth $462,067,000 after buying an additional 304,997 shares during the last quarter. Kayne Anderson Capital Advisors LP raised 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 valued at $426,125,000 after buying an additional 1,947,017 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Enterprise Products Partners by 8.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer's stock valued at $330,739,000 after acquiring an additional 851,188 shares during the last quarter. Finally, Westwood Holdings Group Inc. grew its position in Enterprise Products Partners by 11.1% in the fourth quarter. Westwood Holdings Group Inc. now owns 5,830,088 shares of the oil and gas producer's stock worth $182,832,000 after acquiring an additional 580,850 shares in the last quarter. Hedge funds and other institutional investors 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.