Enterprise Products Partners (NYSE:EPD) Hits New 12-Month High – Time to Buy?

Shares of Enterprise Products Partners L.P. (NYSE:EPD) reached a new 52-week high during trading on Tuesday . The company traded as high as $37.31 and last traded at $37.18, with a volume of 2088397 shares. The stock had previously closed at $36.89.

Analyst Ratings Changes

Several equities research analysts recently issued reports on EPD shares. Stifel Nicolaus lifted their price target on shares of Enterprise Products Partners from $38.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $32.00 target price on shares of Enterprise Products Partners in a research note on Friday, December 19th. Royal Bank Of Canada reiterated an “outperform” rating and set a $40.00 price target on shares of Enterprise Products Partners in a report on Wednesday, February 4th. Citigroup reissued a “buy” rating and set a $39.00 price objective (up from $36.00) on shares of Enterprise Products Partners in a report on Wednesday, February 4th. Finally, Wolfe Research cut Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 target price for the company. in a report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $36.21.

Enterprise Products Partners Stock Performance

The stock has a market capitalization of $80.33 billion, a price-to-earnings ratio of 13.97, a price-to-earnings-growth ratio of 2.66 and a beta of 0.59. The company has a 50 day simple moving average of $34.07 and a 200-day simple moving average of $32.49. The company has a quick ratio of 0.60, a current ratio of 1.04 and a debt-to-equity ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Monday, February 2nd. The oil and gas producer reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.06. The company had revenue of $13.79 billion during the quarter, compared to analyst estimates of $12.44 billion. Enterprise Products Partners had a net margin of 11.05% and a return on equity of 19.33%. Enterprise Products Partners’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.74 EPS. As a group, equities research analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were issued a $0.55 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Friday, January 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.9%. Enterprise Products Partners’s payout ratio is presently 82.71%.

Insider Activity at Enterprise Products Partners

In related news, Director John R. Rutherford bought 15,000 shares of Enterprise Products Partners stock in a transaction on Monday, December 29th. The stock was acquired at an average price of $32.09 per share, with a total value of $481,350.00. Following the acquisition, the director directly owned 173,586 shares of the company’s stock, valued at $5,570,374.74. This represents a 9.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 32.60% of the company’s stock.

Institutional Trading of Enterprise Products Partners

Hedge funds have recently added to or reduced their stakes in the business. PMV Capital Advisers LLC purchased a new position in shares of Enterprise Products Partners in the fourth quarter valued at about $25,000. Winnow Wealth LLC purchased a new stake in Enterprise Products Partners in the second quarter worth about $28,000. Traub Capital Management LLC bought a new position in shares of Enterprise Products Partners during the second quarter valued at approximately $31,000. Palisade Asset Management LLC purchased a new position in shares of Enterprise Products Partners during the third quarter valued at approximately $31,000. Finally, Abich Financial Wealth Management LLC bought a new stake in shares of Enterprise Products Partners in the 3rd quarter worth approximately $32,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.