Enterprise Products Partners (NYSE:EPD) Shares Up 0.4% – Still a Buy?

Shares of Enterprise Products Partners L.P. (NYSE:EPD) rose 0.4% during mid-day trading on Friday . The company traded as high as $29.79 and last traded at $29.76. Approximately 515,230 shares were traded during trading, a decline of 88% from the average daily volume of 4,350,354 shares. The stock had previously closed at $29.64.

Analyst Upgrades and Downgrades

EPD has been the topic of a number of recent research reports. Morgan Stanley decreased their price objective on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Monday, June 10th. Truist Financial increased their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Two analysts have 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.com, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and an average target price of $33.08.

Enterprise Products Partners Price Performance

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91. The company has a market capitalization of $64.82 billion, a PE ratio of 11.67, a P/E/G ratio of 1.50 and a beta of 1.03. The firm has a fifty day simple moving average of $29.14 and a 200 day simple moving average of $28.95.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.02). The company had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The firm’s revenue was up 26.6% compared to the same quarter last year. During the same period last year, the business posted $0.57 EPS. Equities analysts anticipate that Enterprise Products Partners L.P. will post 2.72 EPS for the current year.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 7.04%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.35%.

Institutional Trading of Enterprise Products Partners

Institutional investors have recently made changes to their positions in the business. JRM Investment Counsel LLC boosted its position in shares of Enterprise Products Partners by 2.1% in the 4th quarter. JRM Investment Counsel LLC now owns 505,364 shares of the oil and gas producer’s stock worth $13,316,000 after purchasing an additional 10,404 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of Enterprise Products Partners by 19.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock worth $685,000 after purchasing an additional 3,770 shares in the last quarter. Nwam LLC raised its stake in Enterprise Products Partners by 25.1% in the 1st quarter. Nwam LLC now owns 20,822 shares of the oil and gas producer’s stock worth $591,000 after acquiring an additional 4,184 shares during the last quarter. Icon Wealth Advisors LLC purchased a new position in shares of Enterprise Products Partners during the 4th quarter valued at about $11,623,000. Finally, J.W. Cole Advisors Inc. raised its stake in shares of Enterprise Products Partners by 10.8% during the 1st quarter. J.W. Cole Advisors Inc. now owns 48,832 shares of the oil and gas producer’s stock valued at $1,425,000 after buying an additional 4,757 shares during the last quarter. Institutional investors and hedge funds 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.