Enterprise Products Partners (NYSE:EPD) Trading 0.5% Higher – Should You Buy?

Enterprise Products Partners L.P. (NYSE:EPD)’s share price traded up 0.5% during trading on Friday . The company traded as high as $28.88 and last traded at $28.80. 1,017,249 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 4,276,488 shares. The stock had previously closed at $28.66.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on EPD shares. Truist Financial increased their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday. StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Finally, Bank of America started coverage on Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target on the stock. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Enterprise Products Partners has a consensus rating of “Buy” and an average price target of $33.73.

Enterprise Products Partners Stock Performance

The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $62.57 billion, a PE ratio of 10.79, a P/E/G ratio of 1.33 and a beta of 1.03. The firm’s 50-day moving average price is $29.23 and its two-hundred day moving average price is $28.94.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). The firm had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.39%. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.60 earnings per share. As a group, research analysts predict that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.28%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is 78.65%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EPD. Hantz Financial Services Inc. bought a new stake in Enterprise Products Partners during the 2nd quarter valued at approximately $25,000. Palisade Asset Management LLC bought a new stake in shares of Enterprise Products Partners in the first quarter valued at about $29,000. Mascoma Wealth Management LLC bought a new position in Enterprise Products Partners during the second quarter valued at about $29,000. DiNuzzo Private Wealth Inc. increased its stake in Enterprise Products Partners by 1,000.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after acquiring an additional 1,000 shares during the period. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of Enterprise Products Partners during the 2nd quarter worth approximately $37,000. 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.