Enterprise Products Partners (NYSE:EPD) Reaches New 1-Year High – Still a Buy?

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $32.91 and last traded at $32.91, with a volume of 20444 shares trading hands. The stock had previously closed at $32.82.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Truist Financial raised their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Bank of America began coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price for the company. Finally, StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $34.00.

Enterprise Products Partners Price Performance

The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The company’s fifty day moving average price is $29.72 and its 200 day moving average price is $29.20. The company has a market capitalization of $71.92 billion, a P/E ratio of 12.29, a PEG ratio of 1.69 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business had revenue of $13.78 billion for 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 firm’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.33%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is 78.65%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Hantz Financial Services Inc. purchased a new position in shares of Enterprise Products Partners in the 2nd quarter worth about $25,000. Mascoma Wealth Management LLC purchased a new stake in shares of Enterprise Products Partners during the 2nd quarter worth approximately $29,000. DiNuzzo Private Wealth Inc. raised its holdings in shares of Enterprise Products Partners by 1,000.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 1,000 shares during the period. Assetmark Inc. grew its holdings in Enterprise Products Partners by 19,800.0% during the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after purchasing an additional 1,188 shares during the period. Finally, Sanctuary Wealth Management L.L.C. purchased a new stake in Enterprise Products Partners during the third quarter valued at about $36,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

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.