Enterprise Products Partners (NYSE:EPD) Shares Up 2.1% – Should You Buy?

Enterprise Products Partners L.P. (NYSE:EPD) shares shot up 2.1% during trading on Tuesday . The stock traded as high as $37.17 and last traded at $37.17. Approximately 2,748,532 shares were traded during mid-day trading, a decline of 38% from the average session volume of 4,426,073 shares. The stock had previously closed at $36.42.

Wall Street Analyst Weigh In

EPD has been the subject of a number of research reports. Wells Fargo & Company upgraded Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $40.00 to $42.00 in a report on Wednesday, March 25th. Royal Bank Of Canada raised their price target on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, March 30th. Truist Financial lifted their price objective on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a report on Monday, May 4th. Wolfe Research raised shares of Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Finally, TD Cowen restated a “hold” rating and set a $38.00 target price (up from $34.00) on shares of Enterprise Products Partners in a report on Thursday, April 16th. Nine research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Enterprise Products Partners presently has an average rating of “Hold” and a consensus target price of $39.94.

Enterprise Products Partners Stock Up 2.1%

The stock has a market cap of $80.35 billion, a P/E ratio of 13.77, a price-to-earnings-growth ratio of 1.30 and a beta of 0.49. The firm has a 50 day simple moving average of $37.85 and a 200-day simple moving average of $35.86. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The business had revenue of $14.39 billion for the quarter, compared to analyst estimates of $13.62 billion. During the same period in the previous year, the firm posted $0.64 earnings per share. The firm’s revenue was down 6.7% compared to the same quarter last year. On average, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were paid a $0.55 dividend. The ex-dividend date was Thursday, April 30th. This represents a $2.20 dividend on an annualized basis and a yield of 5.9%. Enterprise Products Partners’s dividend payout ratio is 81.48%.

Institutional Investors Weigh In On Enterprise Products Partners

Institutional investors have recently made changes to their positions in the company. PMV Capital Advisers LLC acquired a new stake in Enterprise Products Partners during the 4th quarter worth approximately $25,000. Palisade Asset Management LLC bought a new position in Enterprise Products Partners during the 3rd quarter worth $31,000. Texas Capital Bancshares Inc TX bought a new position in Enterprise Products Partners during the 3rd quarter worth $32,000. Daytona Street Capital LLC acquired a new stake in shares of Enterprise Products Partners during the fourth quarter worth $42,000. Finally, Groesbeck Investment Management Corp NJ bought a new stake in shares of Enterprise Products Partners in the fourth quarter valued at about $45,000. Institutional investors own 26.07% of the company’s stock.

About Enterprise Products Partners

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.