Enterprise Products Partners (NYSE:EPD) Shares Up 0.1% – Should You Buy?

Enterprise Products Partners L.P. (NYSE:EPD) rose 0.1% on Tuesday . The company traded as high as $31.62 and last traded at $31.53. Approximately 588,759 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 4,291,541 shares. The stock had previously closed at $31.49.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on EPD shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. 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. StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Bank of America initiated 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 on the stock. Finally, Truist Financial boosted their price target on shares of 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 investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $34.00.

Enterprise Products Partners Trading Up 0.1 %

The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The stock has a market cap of $68.32 billion, a price-to-earnings ratio of 11.81, a P/E/G ratio of 1.60 and a beta of 1.04. The business’s 50 day moving average is $29.49 and its 200 day moving average is $29.09.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The business had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.66%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 78.65%.

Institutional Investors Weigh In On Enterprise Products Partners

Institutional investors and hedge funds have recently bought and sold shares of the stock. Curi RMB Capital LLC grew its holdings in shares of Enterprise Products Partners by 0.5% during the third quarter. Curi RMB Capital LLC now owns 73,828 shares of the oil and gas producer’s stock worth $2,149,000 after purchasing an additional 339 shares during the last quarter. Zega Financial LLC grew its stake in Enterprise Products Partners by 1.7% during the 3rd quarter. Zega Financial LLC now owns 20,870 shares of the oil and gas producer’s stock worth $608,000 after buying an additional 344 shares during the last quarter. Tranquility Partners LLC increased its position in Enterprise Products Partners by 1.5% during the third quarter. Tranquility Partners LLC now owns 23,204 shares of the oil and gas producer’s stock worth $675,000 after buying an additional 346 shares during the period. Princeton Global Asset Management LLC lifted its stake in Enterprise Products Partners by 4.9% in the third quarter. Princeton Global Asset Management LLC now owns 7,510 shares of the oil and gas producer’s stock valued at $219,000 after buying an additional 350 shares during the last quarter. Finally, Strategic Wealth Partners Ltd. boosted its holdings in shares of Enterprise Products Partners by 3.8% in the third quarter. Strategic Wealth Partners Ltd. now owns 9,731 shares of the oil and gas producer’s stock valued at $283,000 after acquiring an additional 353 shares during the period. 26.07% of the stock is owned by hedge funds and other 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.