Enterprise Products Partners (NYSE:EPD) Shares Up 1.3% – Still a Buy?

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price shot up 1.3% during mid-day trading on Tuesday . The stock traded as high as $39.41 and last traded at $39.32. Approximately 2,293,764 shares traded hands during mid-day trading, a decline of 43% from the average daily volume of 4,009,392 shares. The stock had previously closed at $38.82.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on EPD shares. Morgan Stanley reiterated an “underweight” rating and issued a $41.00 target price (up from $40.00) on shares of Enterprise Products Partners in a report on Tuesday, August 18th. UBS Group restated a “buy” rating and issued a $45.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Scotiabank reaffirmed a “sector perform” rating and issued a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. Wall Street Zen downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 29th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $40.00.

Enterprise Products Partners Stock Performance

The business has a 50-day moving average of $38.04 and a two-hundred day moving average of $37.76. The company has a market cap of $85.04 billion, a P/E ratio of 13.67, a P/E/G ratio of 1.44 and a beta of 0.50. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.93 and a quick ratio of 0.66.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The business had revenue of $18.27 billion during the quarter, compared to the consensus estimate of $13.69 billion. During the same period in the previous year, the company posted $0.66 earnings per share. The firm’s revenue was up 60.8% on a year-over-year basis. On average, sell-side analysts predict that Enterprise Products Partners L.P. will post 3.03 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Friday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 dividend on an annualized basis and a yield of 5.7%. Enterprise Products Partners’s dividend payout ratio is currently 77.78%.

Institutional Trading of Enterprise Products Partners

A number of institutional investors have recently made changes to their positions in EPD. Palisade Asset Management LLC acquired a new stake in shares of Enterprise Products Partners during the third quarter worth $31,000. N.E.W. Advisory Services LLC purchased a new position in shares of Enterprise Products Partners during the 2nd quarter valued at approximately $37,000. Bravera Wealth raised its holdings in Enterprise Products Partners by 666.7% in the 2nd quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock worth $38,000 after purchasing an additional 900 shares during the period. Markowski Investments purchased a new position in shares of Enterprise Products Partners during the 2nd quarter valued at approximately $46,000. Finally, BOK Financial Private Wealth Inc. acquired a new stake in Enterprise Products Partners in the 2nd quarter valued at $48,000. Institutional investors and hedge funds 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.