Enterprise Products Partners (NYSE:EPD) Shares Up 1.4% – Time to Buy?

Enterprise Products Partners L.P. (NYSE:EPDGet Free Report) shares were up 1.4% during trading on Monday . The stock traded as high as $38.96 and last traded at $38.7460. 2,780,797 shares changed hands during mid-day trading, a decline of 34% from the average session volume of 4,209,464 shares. The stock had previously closed at $38.20.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Truist Financial upped their target price on Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a report on Monday, May 4th. Morgan Stanley restated an “underweight” rating and issued a $43.00 target price (up from $42.00) on shares of Enterprise Products Partners in a research note on Wednesday, May 20th. TD Cowen restated a “hold” rating and set a $38.00 price target (up from $34.00) on shares of Enterprise Products Partners in a research report on Thursday, April 16th. Jefferies Financial Group upped their price target on 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, Weiss Ratings lowered Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, July 2nd. Eight analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $40.13.

View Our Latest Research Report on Enterprise Products Partners

Enterprise Products Partners Trading Up 1.4%

The firm has a market cap of $83.76 billion, a PE ratio of 14.35, a PEG ratio of 1.37 and a beta of 0.49. 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’s fifty day simple moving average is $37.65 and its two-hundred day simple moving average is $36.54.

Enterprise Products Partners (NYSE:EPDGet Free Report) last released its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.03). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The business had revenue of $14.39 billion for the quarter, compared to analysts’ expectations of $13.62 billion. During the same quarter in the previous year, the business posted $0.64 earnings per share. Enterprise Products Partners’s revenue for the quarter was down 6.7% on a year-over-year basis. On average, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.97 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be given a dividend of $0.56 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, July 31st. This represents a $2.24 dividend on an annualized basis and a yield of 5.8%. Enterprise Products Partners’s dividend payout ratio is 81.48%.

Institutional Investors Weigh In On Enterprise Products Partners

Several hedge funds have recently added to or reduced their stakes in the stock. Miller Howard Investments Inc. NY increased its stake in Enterprise Products Partners by 1.0% during the 4th quarter. Miller Howard Investments Inc. NY now owns 3,112,119 shares of the oil and gas producer’s stock valued at $99,775,000 after purchasing an additional 31,733 shares in the last quarter. Royal Palms Capital LLC bought a new position in shares of Enterprise Products Partners in the fourth quarter worth approximately $1,830,000. Oxbow Advisors LLC grew its holdings in shares of Enterprise Products Partners by 3.0% during the fourth quarter. Oxbow Advisors LLC now owns 1,329,085 shares of the oil and gas producer’s stock valued at $42,610,000 after buying an additional 39,052 shares during the last quarter. Texas Yale Capital Corp. grew its holdings in shares of Enterprise Products Partners by 4.9% during the fourth quarter. Texas Yale Capital Corp. now owns 1,905,939 shares of the oil and gas producer’s stock valued at $61,104,000 after buying an additional 88,475 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its position in shares of Enterprise Products Partners by 7.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 4,510,036 shares of the oil and gas producer’s stock valued at $144,592,000 after acquiring an additional 327,807 shares in the last quarter. 26.07% of the stock is owned by institutional investors.

About Enterprise Products Partners

(Get Free Report)

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.

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