Enterprise Products Partners (NYSE:EPD) Shares Up 1% - Time to Buy?

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) shares rose 1% on Friday . The stock traded as high as $33.65 and last traded at $33.56. Approximately 1,462,111 shares were traded during trading, a decline of 69% from the average daily volume of 4,779,658 shares. The stock had previously closed at $33.21.

Analyst Ratings Changes

EPD has been the topic of several recent research reports. Scotiabank assumed coverage on shares of Enterprise Products Partners in a research report on Friday, January 10th. They set a "sector perform" rating and a $33.00 price objective on the stock. Royal Bank of Canada reiterated an "outperform" rating and set a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Wolfe Research downgraded shares of Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 10th. 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 note on Wednesday, December 18th. Finally, US Capital Advisors upgraded shares of Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, October 28th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $34.70.

Enterprise Products Partners Price Performance

The stock has a fifty day moving average of $32.50 and a 200-day moving average of $30.79. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $72.65 billion, a P/E ratio of 12.46, a PEG ratio of 1.54 and a beta of 1.09.

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 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.05. The firm had revenue of $14.20 billion during the quarter, compared to analysts' expectations of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company's quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.72 EPS. Equities analysts predict that Enterprise Products Partners L.P. will post 2.87 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a dividend of $0.535 per share. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a dividend yield of 6.39%. The ex-dividend date was Friday, January 31st. Enterprise Products Partners's payout ratio is presently 79.55%.

Hedge Funds Weigh In On Enterprise Products Partners

Several institutional investors have recently modified their holdings of EPD. 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 buying an additional 7,494,224 shares during the period. Kayne Anderson Capital Advisors LP grew its position in shares of Enterprise Products Partners by 16.7% in 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 period. Barclays PLC grew its position in shares of 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 purchasing an additional 1,326,010 shares during the period. International Assets Investment Management LLC grew its position in shares of 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 purchasing an additional 1,243,741 shares during the period. Finally, FMR LLC grew its position in shares of 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 purchasing an additional 1,225,988 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

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.