Enterprise Products Partners (NYSE:EPD) Shares Up 2.2% - Time to Buy?

Key Points

• Enterprise Products Partners shares rose 2.2% to about $38.84 in heavy trading, with volume roughly 80% above average.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $39.93; targets range from $38 to $45.
• The company beat quarterly earnings expectations with $0.84 EPS and $18.27 billion in revenue, while raising its quarterly dividend to $0.56, equivalent to a 5.8% annual yield.

Shares of Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) were up 2.2% during trading on Friday . The stock traded as high as $38.90 and last traded at $38.8440. 7,377,277 shares were traded during trading, an increase of 80% from the average session volume of 4,099,621 shares. The stock had previously closed at $38.02.

Wall Street Analyst Weigh In

EPD has been the subject of a number of research analyst reports. Morgan Stanley set a $40.00 price target on Enterprise Products Partners and gave the company an "underweight" rating in a report on Tuesday, July 21st. TD Cowen restated a "hold" rating and issued a $38.00 price objective (down from $39.00) on shares of Enterprise Products Partners in a research report on Monday, August 3rd. Scotiabank reaffirmed a "sector perform" rating and issued a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. JPMorgan Chase & Co. upped their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. Finally, UBS Group reissued a "buy" rating and set a $45.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Enterprise Products Partners currently has an average rating of "Moderate Buy" and a consensus target price of $39.93.

Enterprise Products Partners Stock Performance

The firm has a fifty day moving average of $37.56 and a 200-day moving average of $37.33. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. The firm has a market cap of $83.88 billion, a P/E ratio of 13.49, a PEG ratio of 1.36 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.09. The firm had revenue of $18.27 billion during the quarter, compared to analysts' expectations of $13.69 billion. Enterprise Products Partners had a return on equity of 20.80% and a net margin of 10.79%.The company's quarterly revenue was up 60.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.66 EPS. Research analysts predict that Enterprise Products Partners L.P. will post 2.96 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a $0.56 dividend. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a yield of 5.8%. The ex-dividend date is Friday, July 31st. Enterprise Products Partners's dividend payout ratio (DPR) is currently 77.78%.

Institutional Trading of Enterprise Products Partners

Institutional investors have recently bought and sold shares of the business. Palisade Asset Management LLC bought a new position in shares of Enterprise Products Partners in the 3rd quarter worth $31,000. N.E.W. Advisory Services LLC bought a new stake in Enterprise Products Partners in the second quarter valued at about $37,000. Bravera Wealth lifted its stake in Enterprise Products Partners by 666.7% in the second quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer's stock valued at $38,000 after buying an additional 900 shares during the period. BOK Financial Private Wealth Inc. bought a new position in Enterprise Products Partners during the second quarter worth about $48,000. Finally, West Paces Advisors Inc. bought a new position in Enterprise Products Partners during the second quarter worth about $55,000. Institutional investors and hedge funds 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.

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