Enterprise Products Partners (NYSE:EPD) Trading Up 0.4% - Still a Buy?

Shares of Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) shot up 0.4% on Thursday . The company traded as high as $30.14 and last traded at $30.08. 861,173 shares traded hands during trading, a decline of 80% from the average session volume of 4,290,787 shares. The stock had previously closed at $29.97.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on EPD shares. Truist Financial lifted their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Bank of America began coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They set a "buy" rating and a $35.00 target price for the company. Royal Bank of Canada reiterated an "outperform" rating and set a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. US Capital Advisors raised shares of Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, October 28th. Finally, StockNews.com cut Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Enterprise Products Partners currently has an average rating of "Buy" and a consensus price target of $34.00.

Enterprise Products Partners Price Performance

The company has a market cap of $65.65 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 1.33 and a beta of 1.04. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91. The stock has a 50 day moving average of $29.24 and a 200-day moving average of $28.97.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing analysts' consensus estimates of $0.66 by ($0.01). The company had revenue of $13.78 billion for the quarter, compared to analysts' expectations of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.39%. The business's quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.60 EPS. Equities analysts predict that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 6.94%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners's dividend payout ratio (DPR) is 78.65%.

Institutional Trading of Enterprise Products Partners

A number of hedge funds have recently added to or reduced their stakes in EPD. Blackstone Inc. grew its position in shares of Enterprise Products Partners by 6.3% during the 1st quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer's stock valued at $686,712,000 after acquiring an additional 1,391,370 shares during the period. Tortoise Capital Advisors L.L.C. grew its holdings in Enterprise Products Partners by 4.8% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer's stock valued at $470,091,000 after purchasing an additional 741,237 shares during the period. Energy Income Partners LLC increased its position in shares of Enterprise Products Partners by 0.9% in the first quarter. Energy Income Partners LLC now owns 15,618,956 shares of the oil and gas producer's stock valued at $455,761,000 after buying an additional 142,689 shares in the last quarter. Pathway Financial Advisers LLC raised its stake 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 buying an additional 7,494,224 shares during the period. Finally, Chickasaw Capital Management LLC lifted its position in shares of Enterprise Products Partners by 1.6% during the 2nd quarter. Chickasaw Capital Management LLC now owns 5,517,617 shares of the oil and gas producer's stock valued at $159,901,000 after buying an additional 87,930 shares in 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.