Enterprise Products Partners (NYSE:EPD) Stock Price Up 0.6% – Still a Buy?

Enterprise Products Partners L.P. (NYSE:EPD) shares rose 0.6% during mid-day trading on Thursday . The stock traded as high as $33.11 and last traded at $33.06. Approximately 650,960 shares changed hands during trading, a decline of 85% from the average daily volume of 4,316,800 shares. The stock had previously closed at $32.85.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Royal Bank of Canada restated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Bank of America assumed coverage on Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target for the company. Finally, US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $34.00.

Enterprise Products Partners Trading Down 0.2 %

The stock has a fifty day moving average of $30.43 and a 200-day moving average of $29.48. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The company has a market cap of $71.10 billion, a PE ratio of 12.28, a PEG ratio of 1.69 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. During the same quarter in the previous year, the firm earned $0.60 EPS. Enterprise Products Partners’s revenue was up 14.8% compared to the same quarter last year. Sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 6.40%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners’s payout ratio is currently 78.65%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Tortoise Capital Advisors L.L.C. raised its position in Enterprise Products Partners by 4.8% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock valued at $470,091,000 after purchasing an additional 741,237 shares in the last quarter. FMR LLC raised its position in Enterprise Products Partners by 9.3% during the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after purchasing an additional 1,225,988 shares in the last quarter. Pathway Financial Advisers LLC raised its position in Enterprise Products Partners by 2,862.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after purchasing an additional 7,494,224 shares in the last quarter. Westwood Holdings Group Inc. raised its position in Enterprise Products Partners by 9.0% during the 2nd quarter. Westwood Holdings Group Inc. now owns 5,404,012 shares of the oil and gas producer’s stock valued at $156,608,000 after purchasing an additional 447,768 shares in the last quarter. Finally, Hamlin Capital Management LLC raised its position in Enterprise Products Partners by 0.5% during the 3rd quarter. Hamlin Capital Management LLC now owns 4,923,948 shares of the oil and gas producer’s stock valued at $143,336,000 after purchasing an additional 24,335 shares in the last quarter. 26.07% of the stock is owned by institutional investors.

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.