Enterprise Products Partners (NYSE:EPD) Stock Price Down 0% – Here’s Why

Enterprise Products Partners L.P. (NYSE:EPD) shares dropped 0% during mid-day trading on Wednesday . The stock traded as low as $34.06 and last traded at $34.21. Approximately 451,662 shares changed hands during trading, a decline of 89% from the average daily volume of 4,204,550 shares. The stock had previously closed at $34.22.

Wall Street Analyst Weigh In

A number of analysts recently commented on EPD shares. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Truist Financial raised their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. lifted their target price on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $37.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Finally, Scotiabank lifted their price objective 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. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.60.

Enterprise Products Partners Stock Performance

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 has a market capitalization of $73.92 billion, a P/E ratio of 12.69, a PEG ratio of 1.37 and a beta of 1.08. The business has a 50-day moving average price of $33.47 and a 200 day moving average price of $31.81.

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

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a dividend of $0.535 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a yield of 6.27%. The ex-dividend date was Friday, January 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 79.55%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of institutional investors have recently made changes to their positions in EPD. Rosenberg Matthew Hamilton lifted its position in Enterprise Products Partners by 364.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 656 shares in the last quarter. Tidemark LLC lifted its holdings in shares of Enterprise Products Partners by 54.3% during the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 318 shares in the last quarter. Lee Danner & Bass Inc. purchased a new stake in shares of Enterprise Products Partners during the fourth quarter valued at $29,000. Crowley Wealth Management Inc. bought a new stake in Enterprise Products Partners in the 4th quarter worth about $30,000. Finally, National Bank of Canada FI raised its position in Enterprise Products Partners by 55.4% in the 4th quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock worth $32,000 after buying an additional 360 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

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.