Enterprise Products Partners (NYSE:EPD) Shares Down 0.7% – What’s Next?

Enterprise Products Partners L.P. (NYSE:EPD)’s share price was down 0.7% on Friday . The company traded as low as $32.13 and last traded at $32.17. Approximately 498,594 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 4,296,687 shares. The stock had previously closed at $32.39.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on EPD. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Bank of America began coverage on Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target on the stock. Finally, US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Buy” and a consensus target price of $34.00.

Enterprise Products Partners Stock Performance

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 firm has a market capitalization of $69.90 billion, a P/E ratio of 12.10, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08. The company’s 50 day moving average is $30.74 and its 200-day moving average is $29.62.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The firm had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.60 earnings per share. As a group, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.51%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is currently 78.65%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Pathway Financial Advisers LLC boosted its holdings in Enterprise Products Partners by 2,862.8% during the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock worth $225,777,000 after purchasing an additional 7,494,224 shares during the last quarter. Barclays PLC boosted its stake in shares of Enterprise Products Partners by 110.0% in the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock worth $73,699,000 after buying an additional 1,326,010 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Enterprise Products Partners by 2,854.1% in the third quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock valued at $37,474,000 after acquiring an additional 1,243,741 shares in the last quarter. FMR LLC increased its position in shares of Enterprise Products Partners by 9.3% during the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after acquiring an additional 1,225,988 shares during the last quarter. Finally, Merewether Investment Management LP bought a new stake in Enterprise Products Partners during the third quarter worth $30,746,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

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.