Enterprise Products Partners (NYSE:EPD) Stock Price Up 0.3% – Time to Buy?

Shares of Enterprise Products Partners L.P. (NYSE:EPD) shot up 0.3% during trading on Monday . The stock traded as high as $29.57 and last traded at $29.53. 457,390 shares were traded during trading, a decline of 89% from the average session volume of 4,304,666 shares. The stock had previously closed at $29.45.

Wall Street Analysts Forecast Growth

EPD has been the subject of several recent analyst reports. Truist Financial upped their target price on shares of 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 boosted their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Buy” and an average price target of $33.60.

Enterprise Products Partners Stock Performance

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91. The business’s fifty day moving average price is $29.20 and its two-hundred day moving average price is $28.97. The stock has a market capitalization of $63.37 billion, a P/E ratio of 11.47, a P/E/G ratio of 1.49 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.02). The company had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. Enterprise Products Partners’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.57 earnings per share. As a group, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.71 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. Shareholders of record on Thursday, October 31st will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 7.20%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.35%.

Institutional Investors Weigh In On Enterprise Products Partners

Institutional investors have recently made changes to their positions in the company. O Shaughnessy Asset Management LLC raised its position 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 purchasing an additional 3,770 shares during the period. Sanders Morris Harris LLC lifted 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 worth $20,546,000 after acquiring an additional 154,822 shares during the last quarter. Nwam LLC grew its position 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 valued at $591,000 after acquiring an additional 4,184 shares during the last quarter. J.W. Cole Advisors Inc. increased its stake in Enterprise Products Partners by 10.8% in the first quarter. J.W. Cole Advisors Inc. now owns 48,832 shares of the oil and gas producer’s stock worth $1,425,000 after purchasing an additional 4,757 shares during the period. Finally, Natixis lifted its position in shares of Enterprise Products Partners by 144.9% during the first quarter. Natixis now owns 74,872 shares of the oil and gas producer’s stock worth $2,185,000 after purchasing an additional 44,300 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

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.