Enterprise Products Partners (NYSE:EPD) Trading Up 2% – Still a Buy?

Shares of Enterprise Products Partners L.P. (NYSE:EPD) traded up 2% during mid-day trading on Thursday . The company traded as high as $36.96 and last traded at $36.7950. Approximately 2,918,828 shares traded hands during trading, a decline of 34% from the average daily volume of 4,395,219 shares. The stock had previously closed at $36.09.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Truist Financial raised their target price on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a research report on Monday, May 4th. Citigroup reiterated a “buy” rating and issued a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Morgan Stanley reissued an “underweight” rating and set a $43.00 price objective (up from $42.00) on shares of Enterprise Products Partners in a report on Wednesday, May 20th. Stifel Nicolaus upped their target price on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. increased their target price on Enterprise Products Partners from $40.00 to $41.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. Nine equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Enterprise Products Partners currently has an average rating of “Hold” and an average price target of $39.94.

Enterprise Products Partners Price Performance

The stock has a market cap of $79.15 billion, a P/E ratio of 13.56, a P/E/G ratio of 1.31 and a beta of 0.49. The company’s 50 day moving average price is $37.80 and its 200-day moving average price is $35.96. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data 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). The business had revenue of $14.39 billion during the quarter, compared to the consensus estimate of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The business’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 EPS. As a group, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were paid a $0.55 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $2.20 annualized dividend and a dividend yield of 6.0%. Enterprise Products Partners’s dividend payout ratio is presently 81.48%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. PMV Capital Advisers LLC acquired a new position in shares of Enterprise Products Partners in the 4th quarter worth approximately $25,000. Palisade Asset Management LLC acquired a new stake in shares of Enterprise Products Partners during the third quarter worth $31,000. Texas Capital Bancshares Inc TX bought a new position in Enterprise Products Partners during the third quarter worth $32,000. Daytona Street Capital LLC bought a new position in Enterprise Products Partners during the fourth quarter worth $42,000. Finally, Groesbeck Investment Management Corp NJ acquired a new position in Enterprise Products Partners in the fourth quarter valued at $45,000. 26.07% of the stock is owned by institutional investors and hedge funds.

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.