Enterprise Products Partners (NYSE:EPD) Stock Price Up 0.9% – Still a Buy?

14 Nov 2024, 15:49 by Amy Steele · The Cerbat Gem

Shares of Enterprise Products Partners L.P. (NYSE:EPD – Get Free Report) were up 0.9% on Thursday . The company traded as high as $30.71 and last traded at $30.65. Approximately 1,357,479 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 4,285,744 shares. The stock had previously closed at $30.39.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. 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. Truist Financial boosted their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Finally, Bank of America assumed coverage on Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target for the company. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $34.00.

Read Our Latest Research Report on Enterprise Products Partners

Enterprise Products Partners Price Performance

The business has a 50-day moving average of $29.36 and a 200 day moving average of $29.02. The company has a current ratio of 1.07, a quick ratio of 0.68 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $66.98 billion, a P/E ratio of 11.48, a price-to-earnings-growth ratio of 1.57 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD – Get Free Report) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). The business had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business’s revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.60 earnings per share. On average, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 6.80%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 78.65%.

Hedge Funds Weigh In On Enterprise Products Partners

Several hedge funds have recently made changes to their positions in EPD. Blackstone Inc. increased its stake in Enterprise Products Partners by 6.3% in the first quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock valued at $686,712,000 after acquiring an additional 1,391,370 shares during the last quarter. Tortoise Capital Advisors L.L.C. increased its holdings in Enterprise Products Partners by 4.8% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock worth $470,091,000 after buying an additional 741,237 shares in the last quarter. Energy Income Partners LLC boosted its position in Enterprise Products Partners by 0.9% in the first quarter. Energy Income Partners LLC now owns 15,618,956 shares of the oil and gas producer’s stock worth $455,761,000 after purchasing an additional 142,689 shares during the last quarter. FMR LLC grew its stake in shares of 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 valued at $420,037,000 after purchasing an additional 1,225,988 shares during the period. Finally, Pathway Financial Advisers LLC grew its position in Enterprise Products Partners by 2,862.8% during the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after buying an additional 7,494,224 shares during the period. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Company Profile

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