Enterprise Products Partners (NYSE:EPD) Stock Price Down 0.5% – Here’s What Happened

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price dropped 0.5% on Monday . The stock traded as low as $30.79 and last traded at $30.92. Approximately 795,876 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 4,274,725 shares. The stock had previously closed at $31.07.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Bank of America began 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 for the company. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a research note on Wednesday, December 18th. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.20.

Enterprise Products Partners Price Performance

The firm has a fifty day moving average price of $31.25 and a two-hundred day moving average price of $29.90. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $67.98 billion, a P/E ratio of 11.75, a P/E/G ratio of 1.67 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last issued 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). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The firm had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same period last year, the firm posted $0.60 earnings per share. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. On average, analysts expect that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Institutional Trading of Enterprise Products Partners

Several institutional investors have recently added to or reduced their stakes in EPD. Hantz Financial Services Inc. bought a new stake in shares of Enterprise Products Partners in the second quarter worth approximately $25,000. Mascoma Wealth Management LLC bought a new stake in Enterprise Products Partners in the 2nd quarter worth approximately $29,000. DiNuzzo Private Wealth Inc. raised its stake in Enterprise Products Partners by 1,000.0% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 1,000 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of Enterprise Products Partners by 19,800.0% during the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after buying an additional 1,188 shares during the period. Finally, Sanctuary Wealth Management L.L.C. purchased a new position in shares of Enterprise Products Partners in the 3rd quarter worth $36,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

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.