Enterprise Products Partners (NYSE:EPD) Stock Price Up 2.8% – Still a Buy?

Enterprise Products Partners L.P. (NYSE:EPD) shares shot up 2.8% on Monday . The company traded as high as $38.41 and last traded at $38.3050. 3,585,764 shares changed hands during mid-day trading, a decline of 16% from the average session volume of 4,244,149 shares. The stock had previously closed at $37.27.

Wall Street Analyst Weigh In

EPD has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price target on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Truist Financial increased their target price on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a research note on Monday, May 4th. Jefferies Financial Group lifted their target price on Enterprise Products Partners from $34.00 to $40.00 and gave the company a “hold” rating in a research note on Tuesday, March 31st. The Goldman Sachs Group reissued a “neutral” rating and issued a $38.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Finally, Wells Fargo & Company upgraded shares of Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $40.00 to $42.00 in a research report on Wednesday, March 25th. Eight research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Hold” and an average price target of $40.13.

Enterprise Products Partners Stock Down 1.4%

The firm’s fifty day simple moving average is $37.63 and its 200-day simple moving average is $36.41. The company has a market cap of $81.66 billion, a PE ratio of 13.99, a P/E/G ratio of 1.35 and a beta of 0.49. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $14.39 billion for the quarter, compared to analysts’ expectations of $13.62 billion. During the same period last year, the business earned $0.64 earnings per share. The company’s revenue for the quarter was down 6.7% on a year-over-year basis. As a group, equities research analysts expect that Enterprise Products Partners L.P. will post 3.01 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Friday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a yield of 5.9%. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.48%.

Institutional Trading of Enterprise Products Partners

Several institutional investors and hedge funds have recently made changes to their positions in EPD. PMV Capital Advisers LLC acquired a new position in Enterprise Products Partners in the 4th quarter valued at about $25,000. Palisade Asset Management LLC purchased a new stake in shares of Enterprise Products Partners during the third quarter worth about $31,000. Daytona Street Capital LLC purchased a new stake in shares of Enterprise Products Partners during the fourth quarter worth about $42,000. Groesbeck Investment Management Corp NJ acquired a new position in shares of Enterprise Products Partners in the fourth quarter valued at approximately $45,000. Finally, Kestra Investment Management LLC purchased a new position in shares of Enterprise Products Partners during the second quarter valued at approximately $48,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

About Enterprise Products Partners

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.