Enterprise Products Partners (NYSE:EPD) Trading 1.4% Higher - Time to Buy?

Key Points

• Enterprise Products Partners (NYSE:EPD) rose 1.4% intraday to about $38.75, with trading volume below average. The stock has been moving near its 50-day and 200-day averages of $37.65 and $36.54.
• Analysts are mixed on EPD: the consensus rating is currently Hold with an average price target of $40.13, though several firms still have Buy ratings and targets as high as $45.
• The company boosted its quarterly dividend to $0.56 per share from $0.55, implying an annualized payout of $2.24 and a dividend yield of about 5.8%.

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report)'s stock price shot up 1.4% during mid-day trading on Monday . The company traded as high as $38.96 and last traded at $38.7460. Approximately 2,780,797 shares traded hands during trading, a decline of 34% from the average session volume of 4,209,464 shares. The stock had previously closed at $38.20.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on EPD shares. Weiss Ratings lowered Enterprise Products Partners from a "buy (b+)" rating to a "buy (b)" rating in a research note on Thursday, July 2nd. Scotiabank reaffirmed a "sector perform" rating and issued a $40.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. UBS Group reiterated a "buy" rating and issued a $45.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Wells Fargo & Company raised Enterprise Products Partners from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $40.00 to $42.00 in a research note on Wednesday, March 25th. Finally, TD Cowen restated a "hold" rating and issued a $38.00 target price (up from $34.00) on shares of Enterprise Products Partners in a report on Thursday, April 16th. Eight research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Enterprise Products Partners currently has a consensus rating of "Hold" and an average target price of $40.13.

Enterprise Products Partners Trading Up 1.4%

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 stock's fifty day moving average price is $37.65 and its two-hundred day moving average price is $36.54. The company has a market capitalization of $83.76 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 1.37 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) 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 net margin of 11.45% and a return on equity of 19.53%. The firm's revenue for the quarter was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 EPS. Sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.97 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a dividend of $0.56 per share. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.55. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date is Friday, July 31st. Enterprise Products Partners's dividend payout ratio is currently 81.48%.

Institutional Trading of Enterprise Products Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC increased its position in Enterprise Products Partners by 19.9% during the 4th quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer's stock valued at $1,023,000 after purchasing an additional 5,425 shares during the period. Schnieders Capital Management LLC. lifted its position in shares of Enterprise Products Partners by 9.3% in the 2nd quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer's stock worth $1,827,000 after purchasing an additional 5,000 shares during the period. Geode Capital Management LLC lifted its position in shares of Enterprise Products Partners by 6.2% in the 2nd quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer's stock worth $1,975,000 after purchasing an additional 3,742 shares during the period. Guggenheim Capital LLC boosted its stake in shares of Enterprise Products Partners by 6.1% during the 2nd quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer's stock valued at $847,000 after purchasing an additional 1,578 shares in the last quarter. Finally, Glenview Trust co boosted its stake in shares of Enterprise Products Partners by 315.8% during the 2nd quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer's stock valued at $1,043,000 after purchasing an additional 25,555 shares in the last quarter. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.