Enterprise Products Partners (NYSE:EPD) Shares Up 0.6% - Should You Buy?

On Monday, the stock price of Enterprise Products Partners L.P. (NYSE: EPD) rose by 0.6%. The share price peaked at $33.71 before settling at $33.60, with approximately 1,105,013 shares changing hands. This figure marks a significant drop from the average daily trading volume of 4,754,595 shares. The previous closing price for the stock was $33.41.

Analysts Set New Price Targets

Several financial analysts have recently published reports regarding the shares of EPD. Scotiabank initiated coverage on January 10, assigning a "sector perform" rating with a $33.00 price target for the company. Similarly, Wolfe Research downgraded their rating for Enterprise Products Partners from "outperform" to "peer perform" on the same date. Conversely, Truist Financial raised its price target from $37.00 to $40.00 and maintained a "buy" rating on January 3. Citigroup reaffirmed a "buy" rating on the stock in a report dated February 18. Wells Fargo lowered its rating from "overweight" to "equal weight" and set a price target of $35.00 in a research note dated December 18. Currently, four analysts have issued "hold" ratings, eight have rated it as a "buy," and one has given a "strong buy" rating. According to MarketBeat.com, the overall average rating for EPD is classified as a "Moderate Buy" with an average price target of $34.70.

Enterprise Products Partners Trading Up 0.7%

The company has a quick ratio of 0.83 and a current ratio of 1.07. The debt-to-equity ratio for the firm is 1.05. Its fifty-day moving average stands at $32.85, while the two-hundred-day moving average is $31.12. Enterprise Products Partners has a market capitalization of $72.94 billion, with a price-to-earnings ratio of 12.51, and a price-to-earnings-growth ratio of 1.37. The company’s beta is 1.09.

Enterprise Products Partners released its most recent earnings report on February 4, where they announced an earnings per share (EPS) of $0.74, surpassing the consensus estimate of $0.69 by $0.05. The company reported a return on equity of 20.48% and a net margin of 10.49%, with revenue for the quarter recorded at $14.20 billion, slightly above analysts' expectations of $14.07 billion. Compared to the previous year, this figure shows a 2.9% decline in quarterly revenue, while experts predict an EPS of $2.90 for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm has also declared a quarterly dividend, which was distributed on February 14. Shareholders registered by January 31 received a dividend of $0.535 per share, increasing from the prior dividend of $0.53. This amounts to an annualized dividend of $2.14, resulting in a yield of 6.36%. The current dividend payout ratio for Enterprise Products Partners is 79.55%.

Institutional Investors Weigh In On Enterprise Products Partners

Recent changes in the holdings of institutional investors reflect increased interest in Enterprise Products Partners. For instance, in the fourth quarter, Rosenberg Matthew Hamilton raised its stake by 364.4%, now owning 836 shares valued at $26,000 after acquiring an additional 656 shares. Tidemark LLC expanded its holdings by 54.3%, owning 904 shares now worth $28,000. Newly established stakes in the company have been made by Lee Danner & Bass Inc., Crowley Wealth Management Inc., and National Bank of Canada FI, with percentages as high as 55.4%. Currently, institutional investors and hedge funds possess around 26.07% of the company's shares.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. is engaged in providing midstream energy services essential for the flow of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. The firm operates through four key segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

Should You Invest $1,000 in Enterprise Products Partners Right Now?

Before making any investment decisions regarding Enterprise Products Partners, it is crucial to gather information. Notably, while analysts currently rate the stock as a "Moderate Buy," some top-rated analysts have identified five stocks they consider more favorable investments at the moment.

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