Enterprise Products Partners (NYSE:EPD) Shares Down 0.3% – Should You Sell?

Enterprise Products Partners L.P. (NYSE:EPD) fell 0.3% during trading on Wednesday . The stock traded as low as $28.85 and last traded at $28.85. 520,026 shares were traded during mid-day trading, a decline of 88% from the average session volume of 4,277,300 shares. The stock had previously closed at $28.95.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EPD. Truist Financial boosted their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Bank of America began coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price target for the company. Finally, Royal Bank of Canada upped their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $33.73.

Enterprise Products Partners Price Performance

The stock has a fifty day moving average of $29.25 and a 200-day moving average of $28.95. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $63.08 billion, a P/E ratio of 11.42, a PEG ratio of 1.49 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.02). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The company had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $14.23 billion. During the same period last year, the company earned $0.57 earnings per share. Enterprise Products Partners’s revenue for the quarter was up 26.6% compared to the same quarter last year. Equities analysts predict that Enterprise Products Partners L.P. will post 2.71 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.525 per share. The ex-dividend date is Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.23%. Enterprise Products Partners’s payout ratio is currently 82.35%.

Institutional Trading of Enterprise Products Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mutual Advisors LLC raised its position in shares of Enterprise Products Partners by 1.0% during the 3rd quarter. Mutual Advisors LLC now owns 186,487 shares of the oil and gas producer’s stock valued at $5,414,000 after acquiring an additional 1,935 shares during the last quarter. Fidelis Capital Partners LLC increased its stake in shares of Enterprise Products Partners by 1.6% in the 3rd quarter. Fidelis Capital Partners LLC now owns 37,374 shares of the oil and gas producer’s stock valued at $1,083,000 after acquiring an additional 598 shares during the last quarter. Tyche Wealth Partners LLC raised its position in shares of Enterprise Products Partners by 1.3% in the 3rd quarter. Tyche Wealth Partners LLC now owns 31,219 shares of the oil and gas producer’s stock valued at $909,000 after acquiring an additional 407 shares during the period. Cutter & CO Brokerage Inc. boosted its stake in Enterprise Products Partners by 2.7% during the 3rd quarter. Cutter & CO Brokerage Inc. now owns 659,484 shares of the oil and gas producer’s stock worth $19,198,000 after acquiring an additional 17,217 shares during the last quarter. Finally, MONECO Advisors LLC grew its holdings in Enterprise Products Partners by 0.5% during the third quarter. MONECO Advisors LLC now owns 120,918 shares of the oil and gas producer’s stock valued at $3,520,000 after purchasing an additional 591 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

About Enterprise Products Partners

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.