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

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price traded up 0.5% during trading on Monday . The stock traded as high as $30.62 and last traded at $30.56. 713,822 shares traded hands during trading, a decline of 83% from the average session volume of 4,286,852 shares. The stock had previously closed at $30.42.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on EPD shares. 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. Bank of America began 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. 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 report on Wednesday, July 31st. Royal Bank of Canada restated an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Finally, StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Enterprise Products Partners has an average rating of “Buy” and an average price target of $34.00.

Enterprise Products Partners Trading Down 0.1 %

The firm’s 50-day simple moving average is $29.33 and its 200 day simple moving average is $29.01. The firm has a market cap of $65.88 billion, a P/E ratio of 11.37, a price-to-earnings-growth ratio of 1.57 and a beta of 1.04. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data 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 net margin of 10.32% and a return on equity of 20.31%. The firm had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same quarter in the previous year, the company posted $0.60 EPS. Enterprise Products Partners’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, analysts expect that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 6.91%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 78.65%.

Institutional Investors Weigh In On Enterprise Products Partners

Several institutional investors have recently added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC boosted its holdings in 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 buying an additional 3,770 shares during the period. Catalyst Capital Advisors LLC grew its position in shares of Enterprise Products Partners by 5.8% in the third quarter. Catalyst Capital Advisors LLC now owns 477,341 shares of the oil and gas producer’s stock valued at $13,895,000 after purchasing an additional 26,136 shares in the last quarter. Sanders Morris Harris LLC raised its stake in shares of Enterprise Products Partners by 28.1% during the 3rd quarter. Sanders Morris Harris LLC now owns 705,804 shares of the oil and gas producer’s stock valued at $20,546,000 after purchasing an additional 154,822 shares during the period. Pathway Financial Advisers LLC lifted its holdings in Enterprise Products Partners by 2,862.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock worth $225,777,000 after purchasing an additional 7,494,224 shares in the last quarter. Finally, Nwam LLC boosted 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 purchasing an additional 4,184 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.