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

Shares of Enterprise Products Partners L.P. (NYSE:EPD) dropped 0.7% during mid-day trading on Monday . The stock traded as low as $31.93 and last traded at $31.96. Approximately 1,063,896 shares changed hands during trading, a decline of 75% from the average daily volume of 4,290,525 shares. The stock had previously closed at $32.19.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. 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, Bank of America began coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target on the stock. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Buy” and an average target price of $34.00.

Enterprise Products Partners Stock Performance

The firm has a market capitalization of $68.45 billion, a PE ratio of 11.97, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The business’s 50 day simple moving average is $30.79 and its two-hundred day simple moving average is $29.67.

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

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.525 per share. The ex-dividend date was Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a yield of 6.65%. Enterprise Products Partners’s dividend payout ratio is currently 78.65%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Brookstone Capital Management grew its stake in shares of Enterprise Products Partners by 3.8% during the 2nd quarter. Brookstone Capital Management now owns 27,149 shares of the oil and gas producer’s stock valued at $807,000 after acquiring an additional 992 shares during the period. SeaCrest Wealth Management LLC raised its position in shares of Enterprise Products Partners by 33.2% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 22,910 shares of the oil and gas producer’s stock valued at $664,000 after purchasing an additional 5,711 shares during the period. Veracity Capital LLC lifted its stake in shares of Enterprise Products Partners by 1.5% during the 2nd quarter. Veracity Capital LLC now owns 39,051 shares of the oil and gas producer’s stock valued at $1,132,000 after buying an additional 590 shares in the last quarter. Bay Rivers Group bought a new position in Enterprise Products Partners in the 2nd quarter worth $203,000. Finally, Capital Advisory Group Advisory Services LLC increased its stake in Enterprise Products Partners by 36.5% in the 2nd quarter. Capital Advisory Group Advisory Services LLC now owns 18,220 shares of the oil and gas producer’s stock worth $528,000 after buying an additional 4,869 shares in 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.