Enterprise Products Partners (NYSE:EPD) Trading Up 2% – Should You Buy?

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price was up 2% during trading on Friday . The company traded as high as $31.45 and last traded at $31.05. Approximately 3,638,730 shares were traded during trading, a decline of 17% from the average daily volume of 4,369,478 shares. The stock had previously closed at $30.44.

Analysts Set New Price Targets

A number of research firms have recently weighed in on EPD. Barclays upped their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. JPMorgan Chase & Co. boosted their target price on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Scotiabank boosted their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 6th. Finally, StockNews.com upgraded Enterprise Products Partners from a “hold” rating to a “buy” rating in a research report on Tuesday, April 15th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Enterprise Products Partners has an average rating of “Moderate Buy” and an average price target of $36.89.

Enterprise Products Partners Price Performance

The company has a market capitalization of $67.25 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 1.37 and a beta of 0.78. 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’s 50 day simple moving average is $32.61 and its 200 day simple moving average is $31.90.

Enterprise Products Partners (NYSE:EPD) last announced 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 net margin of 10.49% and a return on equity of 20.48%. The business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter last year, the firm earned $0.72 earnings per share. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. As a group, research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.89%. The ex-dividend date is Wednesday, April 30th. Enterprise Products Partners’s payout ratio is presently 79.55%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. raised its position in Enterprise Products Partners by 1.3% during the 4th quarter. Invesco Ltd. now owns 27,076,718 shares of the oil and gas producer’s stock valued at $849,126,000 after purchasing an additional 359,288 shares in the last quarter. FMR LLC lifted its stake in Enterprise Products Partners by 2.1% in the fourth quarter. FMR LLC now owns 14,734,295 shares of the oil and gas producer’s stock worth $462,067,000 after acquiring an additional 304,997 shares during the period. Kayne Anderson Capital Advisors LP grew its holdings in Enterprise Products Partners by 16.7% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock worth $426,125,000 after acquiring an additional 1,947,017 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Enterprise Products Partners by 8.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer’s stock valued at $330,739,000 after purchasing an additional 851,188 shares during the period. Finally, Westwood Holdings Group Inc. raised its holdings in shares of Enterprise Products Partners by 11.1% in the 4th quarter. Westwood Holdings Group Inc. now owns 5,830,088 shares of the oil and gas producer’s stock valued at $182,832,000 after purchasing an additional 580,850 shares in the last quarter. 26.07% of the stock is currently 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.