Enterprise Products Partners (NYSE:EPD) Hits New 12-Month High – Should You Buy?

Shares of Enterprise Products Partners L.P. (NYSE:EPD) reached a new 52-week high during trading on Monday . The stock traded as high as $39.87 and last traded at $39.7420, with a volume of 1770581 shares changing hands. The stock had previously closed at $39.23.

Analysts Set New Price Targets

A number of research firms have commented on EPD. Wells Fargo & Company upgraded shares of Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $40.00 to $42.00 in a research note on Wednesday, March 25th. Truist Financial increased their target price on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a research note on Monday, May 4th. Wolfe Research upgraded Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. UBS Group reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research note on Wednesday, March 4th. Finally, Royal Bank Of Canada boosted their target price on Enterprise Products Partners from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, March 30th. Nine investment 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 stock has a consensus rating of “Hold” and a consensus price target of $39.60.

Enterprise Products Partners Stock Up 0.1%

The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03. The firm has a 50 day moving average price of $37.90 and a 200-day moving average price of $34.86. The firm has a market cap of $86.12 billion, a price-to-earnings ratio of 14.72, a P/E/G ratio of 1.48 and a beta of 0.52.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data 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). The business had revenue of $14.39 billion for the quarter, compared to analysts’ expectations of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The company’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same period last year, the business earned $0.64 earnings per share. On average, equities analysts forecast that Enterprise Products Partners L.P. will post 2.92 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date was Thursday, April 30th. Enterprise Products Partners’s dividend payout ratio is currently 81.48%.

Insider Buying and Selling at Enterprise Products Partners

In other Enterprise Products Partners news, CEO Aj Teague acquired 2,665 shares of the company’s stock in a transaction on Friday, March 20th. The shares were bought at an average cost of $37.55 per share, for a total transaction of $100,070.75. Following the acquisition, the chief executive officer directly owned 77,576 shares of the company’s stock, valued at $2,912,978.80. This trade represents a 3.56% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 32.60% of the company’s stock.

Hedge Funds Weigh In On Enterprise Products Partners

A number of large investors have recently bought and sold shares of EPD. Western Wealth Management LLC raised its position in Enterprise Products Partners by 15.3% in the first quarter. Western Wealth Management LLC now owns 9,723 shares of the oil and gas producer’s stock worth $368,000 after acquiring an additional 1,288 shares in the last quarter. McIlrath & Eck LLC lifted its stake in Enterprise Products Partners by 7.9% during the first quarter. McIlrath & Eck LLC now owns 23,073 shares of the oil and gas producer’s stock valued at $873,000 after purchasing an additional 1,689 shares during the last quarter. Orographic Financial Advisors LLC acquired a new stake in Enterprise Products Partners during the first quarter valued at approximately $323,000. Arkadios Wealth Advisors boosted its holdings in Enterprise Products Partners by 5.9% during the first quarter. Arkadios Wealth Advisors now owns 87,821 shares of the oil and gas producer’s stock worth $3,323,000 after buying an additional 4,878 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Enterprise Products Partners by 19.1% in the first quarter. EverSource Wealth Advisors LLC now owns 14,063 shares of the oil and gas producer’s stock worth $532,000 after buying an additional 2,251 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Company Profile

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.