Enterprise Products Partners (NYSE:EPD) Trading 0.1% Higher – Still a Buy?

Enterprise Products Partners L.P. (NYSE:EPD) shares traded up 0.1% on Monday . The company traded as high as $33.22 and last traded at $32.84. 1,495,652 shares changed hands during trading, a decline of 65% from the average session volume of 4,282,393 shares. The stock had previously closed at $32.82.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on EPD shares. Truist Financial boosted 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. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. 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. Bank of America initiated coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price for the company. Finally, US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Buy” and an average target price of $34.00.

Enterprise Products Partners Stock Up 2.4 %

The business’s 50 day simple moving average is $29.92 and its 200 day simple moving average is $29.28. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $72.95 billion, a PE ratio of 12.60, a PEG ratio of 1.67 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS 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 company had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same quarter in the prior year, the business posted $0.60 EPS. The company’s revenue was up 14.8% on a year-over-year basis. On average, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a dividend of $0.525 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 6.24%. Enterprise Products Partners’s payout ratio is presently 78.65%.

Institutional Investors Weigh In On Enterprise Products Partners

Several institutional investors have recently made changes to their positions in EPD. Silvercrest Asset Management Group LLC lifted its stake in shares of Enterprise Products Partners by 1.3% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 205,140 shares of the oil and gas producer’s stock worth $5,986,000 after acquiring an additional 2,679 shares during the last quarter. Beacon Capital Management LLC boosted its stake in shares of Enterprise Products Partners by 944.9% during the first quarter. Beacon Capital Management LLC now owns 2,654 shares of the oil and gas producer’s stock valued at $77,000 after purchasing an additional 2,400 shares during the period. Jaffetilchin Investment Partners LLC grew its holdings in shares of Enterprise Products Partners by 8.8% in the first quarter. Jaffetilchin Investment Partners LLC now owns 16,749 shares of the oil and gas producer’s stock worth $489,000 after purchasing an additional 1,358 shares during the last quarter. Montchanin Asset Management LLC purchased a new position in Enterprise Products Partners in the 1st quarter worth about $3,597,000. Finally, Kozak & Associates Inc. lifted its holdings in Enterprise Products Partners by 9.8% during the 1st quarter. Kozak & Associates Inc. now owns 4,633 shares of the oil and gas producer’s stock valued at $133,000 after buying an additional 412 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

About Enterprise Products Partners

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.