Enterprise Products Partners (NYSE:EPD) Trading 1.2% Higher – Time to Buy?

Enterprise Products Partners L.P. (NYSE:EPD) shot up 1.2% on Monday . The company traded as high as $37.62 and last traded at $37.2150. 2,411,493 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 4,692,479 shares. The stock had previously closed at $36.79.

Analyst Ratings Changes

A number of brokerages have weighed in on EPD. Jefferies Financial Group upped their target price on Enterprise Products Partners from $34.00 to $40.00 and gave the stock a “hold” rating in a research note on Tuesday, March 31st. Barclays increased their price objective on Enterprise Products Partners from $38.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, March 5th. Wells Fargo & Company upgraded Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $40.00 to $42.00 in a research report on Wednesday, March 25th. Wolfe Research upgraded Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. lifted their price target on Enterprise Products Partners from $40.00 to $41.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. Nine research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Enterprise Products Partners presently has a consensus rating of “Hold” and an average price target of $39.67.

Enterprise Products Partners Stock Performance

The company has a market cap of $80.45 billion, a P/E ratio of 13.78, a PEG ratio of 1.31 and a beta of 0.49. The firm has a 50 day moving average of $38.15 and a 200-day moving average of $35.29. 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 announced its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $14.39 billion during the quarter, compared to the consensus estimate of $13.62 billion. During the same period last year, the company earned $0.64 EPS. The firm’s revenue for the quarter was down 6.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.98 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 5.9%. The ex-dividend date of this dividend was Thursday, April 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is 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 stock in a transaction dated Friday, March 20th. The stock was purchased at an average price of $37.55 per share, with a total value of $100,070.75. Following the transaction, 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 32.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Enterprise Products Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PMV Capital Advisers LLC purchased a new position in shares of Enterprise Products Partners in the 4th quarter valued at about $25,000. Palisade Asset Management LLC acquired a new stake in Enterprise Products Partners in the 3rd quarter worth about $31,000. Texas Capital Bancshares Inc TX acquired a new stake in Enterprise Products Partners in the 3rd quarter worth about $32,000. Abich Financial Wealth Management LLC acquired a new stake in Enterprise Products Partners in the 3rd quarter worth about $32,000. Finally, Daytona Street Capital LLC acquired a new stake in Enterprise Products Partners in the 4th quarter worth about $42,000. Hedge funds and other 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.