Enterprise Products Partners (NYSE:EPD) Trading 0.3% Higher - Time to Buy?

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report)'s stock price rose 0.3% during mid-day trading on Thursday . The company traded as high as $33.12 and last traded at $33.03. Approximately 926,881 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 4,722,014 shares. The stock had previously closed at $32.93.

Wall Street Analyst Weigh In

EPD has been the topic of a number of research analyst reports. Truist Financial raised 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. US Capital Advisors raised shares of Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, October 28th. Scotiabank began coverage on shares of Enterprise Products Partners in a report on Friday, January 10th. They issued a "sector perform" rating and a $33.00 price target for the company. Citigroup increased their price target on shares of Enterprise Products Partners from $36.00 to $37.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Finally, 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 for the company. in a report on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $34.70.

Enterprise Products Partners Stock Up 0.9 %

The business's fifty day moving average price is $32.50 and its 200 day moving average price is $30.77. The company has a market capitalization of $72.65 billion, a P/E ratio of 12.46, a P/E/G ratio of 1.54 and a beta of 1.09. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping 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 period last year, the firm earned $0.72 EPS. The firm's revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, equities research analysts predict that Enterprise Products Partners L.P. will post 2.87 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a dividend of $0.535 per share. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 6.39%. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners's dividend payout ratio (DPR) 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. Pathway Financial Advisers LLC lifted its holdings in 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 valued at $225,777,000 after purchasing an additional 7,494,224 shares during the last quarter. Kayne Anderson Capital Advisors LP lifted its holdings in 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 purchasing an additional 1,947,017 shares during the last quarter. Barclays PLC increased its position in Enterprise Products Partners by 110.0% in the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer's stock valued at $73,699,000 after acquiring an additional 1,326,010 shares in the last quarter. International Assets Investment Management LLC increased its position in Enterprise Products Partners by 2,854.1% in the 3rd quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer's stock valued at $37,474,000 after acquiring an additional 1,243,741 shares in the last quarter. Finally, FMR LLC increased its position in Enterprise Products Partners by 9.3% in the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer's stock valued at $420,037,000 after acquiring an additional 1,225,988 shares in the last quarter. 26.07% of the stock is 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.