Enterprise Products Partners (NYSE:EPD) Shares Up 1% – Still a Buy?

Enterprise Products Partners L.P. (NYSE:EPD) shot up 1% during mid-day trading on Friday . The company traded as high as $33.65 and last traded at $33.56. 1,462,111 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 4,779,658 shares. The stock had previously closed at $33.21.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on EPD. Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research report on Wednesday, December 18th. Truist Financial increased their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Finally, Citigroup increased their price objective on Enterprise Products Partners from $36.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.70.

Enterprise Products Partners Stock Up 0.9 %

The firm has a fifty day moving average price of $32.50 and a 200-day moving average price of $30.76. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The firm has a market cap of $72.65 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 1.54 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter last year, the firm earned $0.72 earnings per share. The business’s revenue was down 2.9% on a year-over-year basis. As a group, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.87 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.535 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.39%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 79.55%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pennington Partners & CO. LLC acquired a new position in Enterprise Products Partners in the fourth quarter valued at $551,000. Hutner Capital Management Inc. raised its position in Enterprise Products Partners by 13.9% in the fourth quarter. Hutner Capital Management Inc. now owns 102,654 shares of the oil and gas producer’s stock valued at $3,219,000 after purchasing an additional 12,545 shares during the period. South Plains Financial Inc. purchased a new position in Enterprise Products Partners in the fourth quarter valued at about $131,000. Mercer Global Advisors Inc. ADV raised its position in Enterprise Products Partners by 42.4% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 411,024 shares of the oil and gas producer’s stock valued at $12,890,000 after purchasing an additional 122,338 shares during the period. Finally, Parvin Asset Management LLC purchased a new position in Enterprise Products Partners in the fourth quarter valued at about $35,000. Institutional investors and hedge funds 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.