Enterprise Products Partners (NYSE:EPD) Shares Down 0.2% – Time to Sell?

Shares of Enterprise Products Partners L.P. (NYSE:EPD) were down 0.2% during trading on Tuesday . The stock traded as low as $28.98 and last traded at $29.07. Approximately 1,886,950 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 4,265,859 shares. The stock had previously closed at $29.14.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on EPD. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday. Truist Financial lifted their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Royal Bank of Canada upped their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Finally, Bank of America began coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective on the stock. One analyst has rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $33.73.

Enterprise Products Partners Trading Up 0.0 %

The company has a 50 day moving average price of $29.24 and a two-hundred day moving average price of $28.94. The firm has a market capitalization of $63.26 billion, a price-to-earnings ratio of 11.09, a P/E/G ratio of 1.32 and a beta of 1.03. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.02). The company had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The business’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.57 earnings per share. On average, research analysts forecast that Enterprise Products Partners L.P. will post 2.7 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company 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 7.20%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s payout ratio is 80.15%.

Institutional Trading of Enterprise Products Partners

Several large investors have recently made changes to their positions in EPD. Aviance Capital Partners LLC lifted its holdings in Enterprise Products Partners by 51.7% in the 1st quarter. Aviance Capital Partners LLC now owns 14,675 shares of the oil and gas producer’s stock valued at $428,000 after purchasing an additional 5,000 shares in the last quarter. Hexagon Capital Partners LLC lifted its stake in shares of Enterprise Products Partners by 7.9% in the first quarter. Hexagon Capital Partners LLC now owns 5,746 shares of the oil and gas producer’s stock worth $168,000 after buying an additional 421 shares in the last quarter. E&G Advisors LP boosted its position in Enterprise Products Partners by 0.9% during the first quarter. E&G Advisors LP now owns 52,104 shares of the oil and gas producer’s stock worth $1,515,000 after acquiring an additional 473 shares during the last quarter. Norden Group LLC acquired a new position in Enterprise Products Partners during the first quarter worth about $587,000. Finally, Veracity Capital LLC grew its stake in Enterprise Products Partners by 1.6% during the 1st quarter. Veracity Capital LLC now owns 38,461 shares of the oil and gas producer’s stock valued at $1,122,000 after acquiring an additional 619 shares in the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

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.