Enterprise Products Partners (NYSE:EPD) Shares Up 0.6% - Time to Buy?

Shares of Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) shot up 0.6% during mid-day trading on Thursday . The company traded as high as $30.14 and last traded at $30.09. 1,195,566 shares traded hands during trading, a decline of 73% from the average session volume of 4,362,513 shares. The stock had previously closed at $29.90.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Wolfe Research downgraded Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 10th. Scotiabank boosted their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a "sector perform" rating in a research report on Thursday, March 6th. StockNews.com downgraded shares of Enterprise Products Partners from a "buy" rating to a "hold" rating in a report on Wednesday. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $37.00 price target on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Finally, Morgan Stanley increased their price target on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 11th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $36.89.

Enterprise Products Partners Stock Performance

The firm has a market capitalization of $65.86 billion, a price-to-earnings ratio of 11.30, a price-to-earnings-growth ratio of 1.37 and a beta of 0.67. The company has a 50-day moving average of $32.06 and a 200-day moving average of $31.99. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing 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 company had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.14 billion. During the same period last year, the company posted $0.66 earnings per share. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Investors 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 yield of 7.04%. The ex-dividend date of this dividend is Wednesday, April 30th. Enterprise Products Partners's dividend payout ratio (DPR) is 80.15%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Rosenberg Matthew Hamilton lifted its holdings in Enterprise Products Partners by 364.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer's stock worth $26,000 after purchasing an additional 656 shares during the period. Tidemark LLC boosted its holdings in shares of Enterprise Products Partners by 54.3% in the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer's stock valued at $28,000 after acquiring an additional 318 shares in the last quarter. Lee Danner & Bass Inc. acquired a new position in shares of Enterprise Products Partners during the fourth quarter valued at approximately $29,000. Crowley Wealth Management Inc. bought a new stake in Enterprise Products Partners during the fourth quarter worth approximately $30,000. Finally, Security National Bank acquired a new stake in Enterprise Products Partners in the first quarter worth approximately $30,000. Institutional investors and hedge funds own 26.07% of the company's stock.

Enterprise Products Partners Company Profile

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.