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

Enterprise Products Partners L.P. (NYSE:EPD) traded down 0.7% during trading on Thursday . The company traded as low as $31.19 and last traded at $31.28. 488,356 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 4,289,349 shares. The stock had previously closed at $31.49.

Wall Street Analysts Forecast Growth

EPD has been the subject of several recent analyst reports. Royal Bank of Canada restated 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 shares of Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price for the company. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Finally, Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a report on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.20.

Enterprise Products Partners Trading Down 0.2 %

The stock has a market cap of $67.35 billion, a P/E ratio of 11.64, a P/E/G ratio of 1.67 and a beta of 1.08. 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 fifty day moving average is $31.15 and its 200 day moving average is $29.84.

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

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a dividend of $0.525 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 6.76%. Enterprise Products Partners’s payout ratio is 78.65%.

Institutional Investors Weigh In On Enterprise Products Partners

Several hedge funds and other institutional investors have recently modified their holdings of EPD. Hantz Financial Services Inc. bought a new stake in shares of Enterprise Products Partners during the second quarter worth $25,000. Mascoma Wealth Management LLC bought a new stake in Enterprise Products Partners during the 2nd quarter valued at about $29,000. DiNuzzo Private Wealth Inc. boosted its position in Enterprise Products Partners by 1,000.0% in 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 period. Assetmark Inc. grew its stake in Enterprise Products Partners by 19,800.0% in the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after acquiring an additional 1,188 shares in the last quarter. Finally, Sanctuary Wealth Management L.L.C. purchased a new position in shares of Enterprise Products Partners during the third quarter worth approximately $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.