Enterprise Products Partners (NYSE:EPD) Stock Price Breaks Above 50-Day Moving Average - Should You Sell?

Key Points

• Enterprise Products Partners shares moved above their 50-day moving average, reaching $37.88 before last trading at $37.396, compared with the average of $37.35.
• Analysts’ consensus rating is Hold, with an average price target of $40.18; seven analysts rate the stock Buy, ten Hold, and one Sell.
• Quarterly EPS of $0.75 matched estimates, while revenue of $17.95 billion exceeded expectations and rose 49.3% year over year. The company announced a $0.56 quarterly dividend, equivalent to a 6.0% yield at the reported share price.

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report)'s share price passed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $37.35 and traded as high as $37.88. Enterprise Products Partners shares last traded at $37.3960, with a volume of 2,908,740 shares traded.

Analysts Set New Price Targets

Several brokerages recently issued reports on EPD. Melius Research started coverage on Enterprise Products Partners in a research report on Tuesday, September 22nd. They set a "hold" rating and a $42.00 target price on the stock. Morgan Stanley restated an "underweight" rating and set a $41.00 price target (up from $40.00) on shares of Enterprise Products Partners in a research note on Tuesday, August 18th. Capital One Financial initiated coverage on shares of Enterprise Products Partners in a research report on Tuesday, September 22nd. They issued an "equal weight" rating and a $42.00 price objective for the company. Royal Bank Of Canada reiterated an "outperform" rating and issued a $42.00 target price on shares of Enterprise Products Partners in a research note on Tuesday, September 22nd. Finally, Stifel Nicolaus began coverage on shares of Enterprise Products Partners in a research note on Thursday, September 10th. They set a "hold" rating and a $40.00 price target on the stock. Seven equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of "Hold" and an average price target of $40.18.

Enterprise Products Partners Trading Up 0.6%

The company has a current ratio of 0.93, a quick ratio of 0.67 and a debt-to-equity ratio of 1.00. The company has a fifty day moving average price of $37.35 and a 200-day moving average price of $37.45. The firm has a market cap of $80.65 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 1.42 and a beta of 0.48.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The oil and gas producer reported $0.75 EPS for the quarter, hitting analysts' consensus estimates of $0.75. Enterprise Products Partners had a net margin of 10.24% and a return on equity of 21.41%. The business had revenue of $17.95 billion for the quarter, compared to analysts' expectations of $14.98 billion. During the same quarter last year, the company earned $0.61 EPS. The business's revenue was up 49.3% on a year-over-year basis. As a group, research analysts expect that Enterprise Products Partners L.P. will post 3.05 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend is Friday, October 30th. Enterprise Products Partners's dividend payout ratio is presently 74.17%.

Hedge Funds Weigh In On Enterprise Products Partners

Several institutional investors and hedge funds have recently modified their holdings of the business. Ingalls & Snyder LLC raised its holdings in shares of Enterprise Products Partners by 21.3% during the 3rd quarter. Ingalls & Snyder LLC now owns 17,628 shares of the oil and gas producer's stock worth $628,000 after acquiring an additional 3,100 shares during the period. Texas Yale Capital Corp. increased its position in Enterprise Products Partners by 0.9% during the third quarter. Texas Yale Capital Corp. now owns 1,938,282 shares of the oil and gas producer's stock worth $69,022,000 after purchasing an additional 18,093 shares during the last quarter. Cornerstone Select Advisors LLC raised its stake in Enterprise Products Partners by 2.8% during the third quarter. Cornerstone Select Advisors LLC now owns 82,372 shares of the oil and gas producer's stock worth $2,933,000 after purchasing an additional 2,270 shares during the period. TIAA CREF Individual & Institutional Services LLC boosted its holdings in Enterprise Products Partners by 46.2% in the 3rd quarter. TIAA CREF Individual & Institutional Services LLC now owns 51,867 shares of the oil and gas producer's stock valued at $1,847,000 after purchasing an additional 16,394 shares during the last quarter. Finally, Whittier Trust Co. boosted its holdings in Enterprise Products Partners by 68.6% in the 3rd quarter. Whittier Trust Co. now owns 22,020 shares of the oil and gas producer's stock valued at $794,000 after purchasing an additional 8,960 shares during 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 NYSE: EPD is a North American midstream energy company that gathers, processes, transports, stores and exports energy-related commodities. Its operations support the movement of products from producing regions to refineries, petrochemical plants and other customers. The company's assets include pipelines, natural gas processing plants, storage facilities, and terminals. It handles natural gas, natural gas liquids (NGLs), crude oil, refined products and petrochemicals, and provides services such as NGL fractionation and transportation.

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