Enterprise Products Partners (NYSE:EPD) Trading Up 0.5% – Time to Buy?

Enterprise Products Partners L.P. (NYSE:EPD) shares shot up 0.5% during mid-day trading on Wednesday . The stock traded as high as $31.57 and last traded at $31.36. 2,486,469 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 4,278,178 shares. The stock had previously closed at $31.20.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on EPD. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a report on Wednesday, December 18th. Royal Bank of Canada reissued an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. 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. Finally, Bank of America initiated coverage on Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price on the stock. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.20.

Enterprise Products Partners Price Performance

The company has a market cap of $68.82 billion, a PE ratio of 11.89, a P/E/G ratio of 1.67 and a beta of 1.08. 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 company has a 50-day moving average price of $31.35 and a two-hundred day moving average price of $29.92.

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

Institutional Investors Weigh In On Enterprise Products Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Paragon Advisors LLC acquired a new position in shares of Enterprise Products Partners in the 3rd quarter valued at approximately $2,628,000. FMR LLC increased its stake in shares of Enterprise Products Partners by 9.3% in the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after buying an additional 1,225,988 shares during the last quarter. Peapack Gladstone Financial Corp raised its holdings in Enterprise Products Partners by 61.7% in the third quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock valued at $3,954,000 after acquiring an additional 51,809 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in Enterprise Products Partners by 5.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock valued at $118,561,000 after acquiring an additional 200,625 shares during the last quarter. Finally, Brookfield Corp ON grew its holdings in Enterprise Products Partners by 6.2% during the 3rd quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock worth $138,639,000 after acquiring an additional 278,892 shares in the last quarter. Hedge funds and other institutional investors 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.