Enterprise Products Partners (NYSE:EPD) Trading 1.2% Higher – Time to Buy?

Enterprise Products Partners L.P. (NYSE:EPD) traded up 1.2% during trading on Monday . The company traded as high as $37.62 and last traded at $37.2150. 2,411,493 shares traded hands during trading, a decline of 49% from the average session volume of 4,692,479 shares. The stock had previously closed at $36.79.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Royal Bank Of Canada raised their target price on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, March 30th. Wells Fargo & Company upgraded shares of Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $40.00 to $42.00 in a research note on Wednesday, March 25th. UBS Group reiterated a “buy” rating on shares of Enterprise Products Partners in a research note on Wednesday, March 4th. Jefferies Financial Group lifted their target price on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the stock a “hold” rating in a research note on Tuesday, March 31st. Finally, Citigroup reiterated a “buy” rating and issued a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Nine equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $39.67.

Enterprise Products Partners Stock Up 1.2%

The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. The stock has a 50-day simple moving average of $38.15 and a 200-day simple moving average of $35.29. The firm has a market capitalization of $80.45 billion, a PE ratio of 13.78, a P/E/G ratio of 1.31 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.03). Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The business had revenue of $14.39 billion during the quarter, compared to analysts’ expectations of $13.62 billion. During the same quarter in the prior year, the firm earned $0.64 EPS. The firm’s revenue for the quarter was down 6.7% compared to the same quarter last year. Analysts forecast that Enterprise Products Partners L.P. will post 2.98 EPS for the current year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend was Thursday, April 30th. Enterprise Products Partners’s dividend payout ratio is presently 81.48%.

Insider Buying and Selling at Enterprise Products Partners

In other news, CEO Aj Teague acquired 2,665 shares of Enterprise Products Partners stock in a transaction dated Friday, March 20th. The shares were acquired at an average cost of $37.55 per share, for a total transaction of $100,070.75. Following the acquisition, the chief executive officer owned 77,576 shares of the company’s stock, valued at $2,912,978.80. This trade represents a 3.56% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 32.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Enterprise Products Partners

Several institutional investors and hedge funds have recently bought and sold shares of the stock. PMV Capital Advisers LLC bought a new position in Enterprise Products Partners in the 4th quarter valued at $25,000. Palisade Asset Management LLC purchased a new stake in Enterprise Products Partners during the 3rd quarter worth about $31,000. Abich Financial Wealth Management LLC purchased a new stake in Enterprise Products Partners during the 3rd quarter worth about $32,000. Texas Capital Bancshares Inc TX purchased a new stake in Enterprise Products Partners during the 3rd quarter worth about $32,000. Finally, Daytona Street Capital LLC purchased a new stake in Enterprise Products Partners during the 4th quarter worth about $42,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

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.