Enterprise Products Partners (NYSE:EPD) Stock Price Down 0.8% – Here’s What Happened

Enterprise Products Partners L.P. (NYSE:EPD) traded down 0.8% during mid-day trading on Tuesday . The stock traded as low as $33.07 and last traded at $33.37. 1,289,902 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 4,875,082 shares. The stock had previously closed at $33.65.

Wall Street Analyst Weigh In

EPD has been the subject of a number of recent analyst reports. Scotiabank upped their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research report on Thursday, March 6th. Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Morgan Stanley raised their price target on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Truist Financial boosted their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Finally, Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.30.

Enterprise Products Partners Stock Down 1.4 %

The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The stock’s 50-day moving average price is $33.11 and its two-hundred day moving average price is $31.30. The stock has a market capitalization of $71.85 billion, a PE ratio of 12.33, a P/E/G ratio of 1.37 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the prior year, the company earned $0.72 earnings per share. The business’s revenue was down 2.9% compared to the same quarter last year. As a group, analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a yield of 6.45%. The ex-dividend date was Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is 79.55%.

Institutional Investors Weigh In On Enterprise Products Partners

Several hedge funds have recently added to or reduced their stakes in the stock. Copia Wealth Management purchased a new position in shares of Enterprise Products Partners in the 4th quarter worth about $35,000. Menard Financial Group LLC bought a new position in shares of Enterprise Products Partners in the fourth quarter worth approximately $42,000. Leigh Baldwin & CO. LLC purchased a new stake in shares of Enterprise Products Partners during the fourth quarter valued at approximately $291,000. Armis Advisers LLC bought a new stake in shares of Enterprise Products Partners during the fourth quarter valued at approximately $237,000. Finally, Integrated Advisors Network LLC raised its holdings in Enterprise Products Partners by 3.4% in the 4th quarter. Integrated Advisors Network LLC now owns 31,932 shares of the oil and gas producer’s stock worth $1,001,000 after acquiring an additional 1,054 shares during the last quarter. 26.07% of the stock is owned by 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.