Enterprise Products Partners (NYSE:EPD) Trading Up 0.4% – Still a Buy?

07 Nov 2024, 21:36 by Mitch Edgeman · The Markets Daily

Shares of Enterprise Products Partners L.P. (NYSE:EPD – Get Free Report) shot up 0.4% on Thursday . The company traded as high as $30.14 and last traded at $30.08. 861,173 shares traded hands during trading, a decline of 80% from the average session volume of 4,290,787 shares. The stock had previously closed at $29.97.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on EPD shares. Truist Financial lifted their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Bank of America began coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Finally, StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Enterprise Products Partners currently has an average rating of “Buy” and a consensus price target of $34.00.

Check Out Our Latest Research Report on Enterprise Products Partners

Enterprise Products Partners Price Performance

The company has a market cap of $65.65 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 1.33 and a beta of 1.04. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91. The stock has a 50 day moving average of $29.24 and a 200-day moving average of $28.97.

Enterprise Products Partners (NYSE:EPD – Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The company had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.39%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.60 EPS. Equities analysts predict that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 6.94%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 78.65%.

Institutional Trading of Enterprise Products Partners

A number of hedge funds have recently added to or reduced their stakes in EPD. Blackstone Inc. grew its position in shares of Enterprise Products Partners by 6.3% during the 1st quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock valued at $686,712,000 after acquiring an additional 1,391,370 shares during the period. Tortoise Capital Advisors L.L.C. grew its holdings in Enterprise Products Partners by 4.8% in the second 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 during the period. Energy Income Partners LLC increased its position in shares of Enterprise Products Partners by 0.9% in the first quarter. Energy Income Partners LLC now owns 15,618,956 shares of the oil and gas producer’s stock valued at $455,761,000 after buying an additional 142,689 shares in the last quarter. Pathway Financial Advisers LLC raised its stake in shares of 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 worth $225,777,000 after buying an additional 7,494,224 shares during the period. Finally, Chickasaw Capital Management LLC lifted its position in shares of Enterprise Products Partners by 1.6% during the 2nd quarter. Chickasaw Capital Management LLC now owns 5,517,617 shares of the oil and gas producer’s stock valued at $159,901,000 after buying an additional 87,930 shares in the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

About Enterprise Products Partners

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