Enterprise Products Partners (NYSE:EPD) Trading 1.3% Higher – Should You Buy?

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price rose 1.3% during trading on Thursday . The stock traded as high as $31.80 and last traded at $31.78. Approximately 842,761 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 4,278,178 shares. The stock had previously closed at $31.36.

Analyst Upgrades and Downgrades

EPD has been the subject of a number of recent research reports. Wells Fargo & Company lowered Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a research note on Wednesday, December 18th. Truist Financial lifted their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research note 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 report on Monday, October 28th. Finally, Bank of America assumed coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.50.

Enterprise Products Partners Stock Up 0.3 %

The firm has a market cap of $68.99 billion, a P/E ratio of 11.92, a PEG ratio of 1.67 and a beta of 1.08. The firm’s 50-day moving average price is $31.40 and its 200 day moving average price is $29.95. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). The firm had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. Enterprise Products Partners’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 EPS. On average, equities research analysts expect that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of EPD. Paragon Advisors LLC acquired a new position in shares of Enterprise Products Partners during the third quarter worth approximately $2,628,000. FMR LLC boosted its position in Enterprise Products Partners by 9.3% during the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after acquiring an additional 1,225,988 shares during the period. Peapack Gladstone Financial Corp grew its stake in shares of Enterprise Products Partners by 61.7% in the third quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock worth $3,954,000 after purchasing an additional 51,809 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Enterprise Products Partners by 5.2% during the third quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock valued at $118,561,000 after purchasing an additional 200,625 shares during the period. Finally, Brookfield Corp ON raised its stake in shares of Enterprise Products Partners by 6.2% during the third quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock valued at $138,639,000 after purchasing an additional 278,892 shares in the last quarter. Institutional investors 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.