Enterprise Products Partners (NYSE:EPD) Stock Price Up 2.2% – Still a Buy?

Shares of Enterprise Products Partners L.P. (NYSE:EPD) rose 2.2% during trading on Friday . The stock traded as high as $38.90 and last traded at $38.8440. Approximately 7,377,277 shares were traded during mid-day trading, an increase of 80% from the average daily volume of 4,099,621 shares. The stock had previously closed at $38.02.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on EPD shares. Weiss Ratings upgraded Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a research report on Tuesday. UBS Group reiterated a “buy” rating and issued a $45.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Citigroup reissued a “buy” rating and set a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Wall Street Zen upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Sunday. Finally, Scotiabank reaffirmed a “sector perform” rating and issued a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $39.93.

Enterprise Products Partners Price Performance

The company has a current ratio of 0.93, a quick ratio of 0.61 and a debt-to-equity ratio of 1.00. The firm’s 50-day moving average price is $37.58 and its 200-day moving average price is $37.34. The stock has a market capitalization of $83.88 billion, a PE ratio of 13.49, a PEG ratio of 1.39 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, topping the consensus estimate of $0.75 by $0.09. The company had revenue of $18.27 billion during the quarter, compared to analyst estimates of $13.69 billion. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The firm’s revenue was up 60.8% on a year-over-year basis. During the same quarter last year, the business posted $0.66 earnings per share. On average, equities analysts forecast that Enterprise Products Partners L.P. will post 2.98 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.8%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio is presently 77.78%.

Hedge Funds Weigh In On Enterprise Products Partners

Several hedge funds have recently bought and sold shares of EPD. Western Wealth Management LLC grew its holdings in shares of Enterprise Products Partners by 7.4% in the second quarter. Western Wealth Management LLC now owns 10,442 shares of the oil and gas producer’s stock worth $384,000 after purchasing an additional 719 shares during the last quarter. First Bancorp Inc ME boosted its stake in shares of Enterprise Products Partners by 51.3% during the second quarter. First Bancorp Inc ME now owns 10,146 shares of the oil and gas producer’s stock valued at $373,000 after purchasing an additional 3,440 shares in the last quarter. Valtrion Capital Management LLC increased its holdings in shares of Enterprise Products Partners by 11.2% in the 2nd quarter. Valtrion Capital Management LLC now owns 7,016 shares of the oil and gas producer’s stock valued at $258,000 after acquiring an additional 706 shares during the period. Hsbc Holdings PLC grew its stake in Enterprise Products Partners by 13.6% in the second quarter. Hsbc Holdings PLC now owns 226,543 shares of the oil and gas producer’s stock valued at $8,328,000 after purchasing an additional 27,115 shares during the last quarter. Finally, Arkos Global Advisors grew its position in shares of Enterprise Products Partners by 8.0% in the 2nd quarter. Arkos Global Advisors now owns 12,310 shares of the oil and gas producer’s stock worth $453,000 after buying an additional 908 shares during the last quarter. Institutional investors 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.