Enterprise Products Partners (NYSE:EPD) Trading 1.6% Higher – Time to Buy?

Enterprise Products Partners L.P. (NYSE:EPD) shares traded up 1.6% on Wednesday . The stock traded as high as $38.12 and last traded at $37.9410. 2,168,724 shares changed hands during mid-day trading, a decline of 52% from the average session volume of 4,509,896 shares. The stock had previously closed at $37.35.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group restated a “neutral” rating and issued a $39.00 target price on shares of Enterprise Products Partners in a research note on Thursday, May 14th. TD Cowen restated a “hold” rating and issued a $38.00 target price (up from $34.00) on shares of Enterprise Products Partners in a research note on Thursday, April 16th. Stifel Nicolaus raised their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. UBS Group restated a “buy” rating on shares of Enterprise Products Partners in a research note on Wednesday, March 4th. Finally, Citigroup reiterated a “buy” rating and set a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Nine equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Enterprise Products Partners presently has an average rating of “Hold” and a consensus target price of $39.67.

Enterprise Products Partners Stock Up 0.0%

The company’s 50 day moving average price is $38.01 and its 200 day moving average price is $35.66. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $80.60 billion, a price-to-earnings ratio of 13.81, a P/E/G ratio of 1.35 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.03). Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The company had revenue of $14.39 billion for the quarter, compared to analyst estimates of $13.62 billion. During the same quarter in the previous year, the firm posted $0.64 earnings per share. The company’s quarterly revenue was down 6.7% on a year-over-year basis. As a group, research analysts forecast that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 5.9%. The ex-dividend date was Thursday, April 30th. Enterprise Products Partners’s payout ratio is presently 81.48%.

Insider Activity

In other Enterprise Products Partners news, CEO Aj Teague bought 2,665 shares of Enterprise Products Partners stock in a transaction that occurred on Friday, March 20th. The stock was purchased at an average price of $37.55 per share, with a total value of $100,070.75. Following the completion of the acquisition, the chief executive officer directly owned 77,576 shares in the company, valued at approximately $2,912,978.80. This trade represents a 3.56% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 32.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. PMV Capital Advisers LLC purchased a new position in shares of Enterprise Products Partners during the fourth quarter worth $25,000. Palisade Asset Management LLC purchased a new position in shares of Enterprise Products Partners during the third quarter worth $31,000. Abich Financial Wealth Management LLC purchased a new position in shares of Enterprise Products Partners during the third quarter worth $32,000. Texas Capital Bancshares Inc TX purchased a new position in shares of Enterprise Products Partners during the third quarter worth $32,000. Finally, Daytona Street Capital LLC purchased a new position in shares of Enterprise Products Partners during the fourth quarter worth $42,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.