Enterprise Products Partners (NYSE:EPD) Stock Price Up 0.5% – Should You Buy?

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price traded up 0.5% during mid-day trading on Thursday . The stock traded as high as $33.67 and last traded at $33.50. 739,779 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 3,587,921 shares. The stock had previously closed at $33.34.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Scotiabank assumed coverage on shares of Enterprise Products Partners in a report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 target price on the stock. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a research report on Wednesday, December 18th. Finally, Truist Financial increased their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Four investment 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. According to data from MarketBeat, Enterprise Products Partners currently has an average rating of “Moderate Buy” and an average target price of $34.60.

Enterprise Products Partners Stock Up 0.9 %

The stock has a 50 day moving average price of $31.87 and a 200 day moving average price of $30.15. The company has a market capitalization of $72.93 billion, a P/E ratio of 12.60, a PEG ratio of 1.57 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) last announced its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate 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 company had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter in the previous year, the company earned $0.60 earnings per share. The business’s revenue was up 14.8% on a year-over-year basis. On average, research analysts anticipate that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.36%. The ex-dividend date is Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 78.65%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EPD. FMR LLC grew its stake in shares of Enterprise Products Partners by 9.3% during the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after acquiring an additional 1,225,988 shares during the period. Pathway Financial Advisers LLC lifted 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 valued at $225,777,000 after buying an additional 7,494,224 shares in the last quarter. Westwood Holdings Group Inc. boosted its holdings in Enterprise Products Partners by 9.0% in the 2nd quarter. Westwood Holdings Group Inc. now owns 5,404,012 shares of the oil and gas producer’s stock worth $156,608,000 after buying an additional 447,768 shares during the period. Hamlin Capital Management LLC raised its holdings in Enterprise Products Partners by 0.5% during the 3rd quarter. Hamlin Capital Management LLC now owns 4,923,948 shares of the oil and gas producer’s stock valued at $143,336,000 after acquiring an additional 24,335 shares during the period. Finally, Brookfield Corp ON lifted its position in shares of Enterprise Products Partners by 6.2% during the third quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock worth $138,639,000 after acquiring an additional 278,892 shares in the last quarter. 26.07% of the stock is currently owned by hedge funds and other 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.