Enterprise Products Partners (NYSE:EPD) Trading Up 0.2% - Still a Buy?

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report)'s stock price traded up 0.2% on Tuesday . The stock traded as high as $32.58 and last traded at $32.51. 707,038 shares traded hands during trading, a decline of 84% from the average session volume of 4,312,283 shares. The stock had previously closed at $32.46.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on EPD shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. StockNews.com lowered shares of Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a research note on Monday, August 12th. Bank of America began coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They set a "buy" rating and a $35.00 target price on the stock. Finally, US Capital Advisors raised Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, October 28th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $34.00.

Enterprise Products Partners Stock Down 0.8 %

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 firm has a market capitalization of $69.82 billion, a P/E ratio of 12.18, a PEG ratio of 1.69 and a beta of 1.08. The stock has a 50 day moving average of $30.56 and a 200-day moving average of $29.55.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $13.78 billion for the quarter, compared to analysts' expectations of $13.87 billion. During the same quarter in the previous year, the company posted $0.60 earnings per share. The business's quarterly revenue was up 14.8% compared to the same quarter last year. Research analysts predict that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.52%. Enterprise Products Partners's payout ratio is 78.65%.

Institutional Investors Weigh In On Enterprise Products Partners

Institutional investors and hedge funds have recently modified their holdings of the company. Franklin Resources Inc. boosted its holdings in Enterprise Products Partners by 16.2% in the 3rd quarter. Franklin Resources Inc. now owns 156,933 shares of the oil and gas producer's stock valued at $4,628,000 after purchasing an additional 21,834 shares during the period. Peapack Gladstone Financial Corp raised its position 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. Synovus Financial Corp boosted its stake in Enterprise Products Partners by 20.0% during the third quarter. Synovus Financial Corp now owns 50,140 shares of the oil and gas producer's stock valued at $1,460,000 after buying an additional 8,361 shares during the period. Optimist Retirement Group LLC grew its position in Enterprise Products Partners by 3.3% during the third quarter. Optimist Retirement Group LLC now owns 67,080 shares of the oil and gas producer's stock worth $1,953,000 after buying an additional 2,152 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB increased its stake in Enterprise Products Partners by 1,183.4% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 91,725 shares of the oil and gas producer's stock worth $2,670,000 after acquiring an additional 84,578 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

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.

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