Enterprise Products Partners (NYSE:EPD) Shares Up 0.2% – Should You Buy?

Enterprise Products Partners L.P. (NYSE:EPD) shares rose 0.2% on Wednesday . The company traded as high as $29.31 and last traded at $29.25. Approximately 329,096 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 4,327,555 shares. The stock had previously closed at $29.18.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EPD. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Truist Financial upped their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $33.50.

Enterprise Products Partners Stock Performance

The company has a market cap of $63.52 billion, a PE ratio of 11.47, a PEG ratio of 1.50 and a beta of 1.03. The business’s 50 day moving average is $29.12 and its two-hundred day moving average is $28.96. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The company had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $14.23 billion. During the same quarter last year, the company earned $0.57 earnings per share. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. On average, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.72 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be paid a dividend of $0.525 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 7.18%. Enterprise Products Partners’s dividend payout ratio is presently 82.35%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of institutional investors and hedge funds have recently made changes to their positions in EPD. Hantz Financial Services Inc. purchased a new position in Enterprise Products Partners in the 2nd quarter valued at $25,000. Stephens Consulting LLC acquired a new position in Enterprise Products Partners in the first quarter valued at $29,000. Palisade Asset Management LLC purchased a new stake in Enterprise Products Partners in the first quarter valued at approximately $29,000. Mascoma Wealth Management LLC purchased a new position in shares of Enterprise Products Partners in the 2nd quarter worth $29,000. Finally, MFA Wealth Advisors LLC purchased a new position in shares of Enterprise Products Partners in the 2nd quarter worth about $37,000. 26.07% of the stock is owned by institutional investors and hedge funds.

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.