Enterprise Products Partners (NYSE:EPD) Trading Up 0.5% – Still a Buy?

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on EPD shares. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday. Bank of America assumed coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price on the stock. Finally, Truist Financial upped their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. One 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. Based on data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Buy” and a consensus price target of $34.00.

Enterprise Products Partners Stock Performance

The firm has a 50 day moving average of $29.22 and a two-hundred day moving average of $28.95. The stock has a market cap of $62.55 billion, a P/E ratio of 10.79, a P/E/G ratio of 1.33 and a beta of 1.04. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91.

Enterprise Products Partners (NYSE:EPD) last announced 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 net margin of 10.32% and a return on equity of 20.39%. 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 EPS. Enterprise Products Partners’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, research analysts predict that Enterprise Products Partners L.P. will post 2.7 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be issued a $0.525 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 7.29%. Enterprise Products Partners’s dividend payout ratio (DPR) is 78.65%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hantz Financial Services Inc. bought a new stake in Enterprise Products Partners in the second quarter valued at about $25,000. Palisade Asset Management LLC acquired a new stake in Enterprise Products Partners in the 1st quarter valued at $29,000. Mascoma Wealth Management LLC acquired a new position in Enterprise Products Partners during the second quarter worth $29,000. DiNuzzo Private Wealth Inc. raised 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 worth $32,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Assetmark Inc. lifted its holdings in shares of 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 acquiring an additional 1,188 shares during the period. 26.07% of the stock is owned by institutional investors.

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.