Enterprise Products Partners (NYSE:EPD) Stock Price Down 0.2% – Here’s Why

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price dropped 0.2% during trading on Thursday . The company traded as low as $33.62 and last traded at $33.72. Approximately 670,946 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 3,791,785 shares. The stock had previously closed at $33.80.

Wall Street Analyst Weigh In

EPD has been the subject of a number of research reports. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Bank of America began coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective for the company. Royal Bank of Canada reissued an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Finally, Truist Financial raised their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.60.

Enterprise Products Partners Stock Down 0.0 %

The firm’s fifty day moving average price is $32.28 and its 200-day moving average price is $30.33. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The firm has a market capitalization of $73.25 billion, a P/E ratio of 12.65, a PEG ratio of 1.61 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). The company 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 company’s revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the business earned $0.60 earnings per share. As a group, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.67 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a $0.535 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.33%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 78.65%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EPD. AE Wealth Management LLC raised its holdings in Enterprise Products Partners by 67.6% in the 2nd quarter. AE Wealth Management LLC now owns 35,024 shares of the oil and gas producer’s stock worth $1,015,000 after acquiring an additional 14,122 shares during the period. Pacer Advisors Inc. raised its holdings in Enterprise Products Partners by 5.2% in the 2nd quarter. Pacer Advisors Inc. now owns 81,517 shares of the oil and gas producer’s stock worth $2,362,000 after acquiring an additional 4,038 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Enterprise Products Partners by 23.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 11,920 shares of the oil and gas producer’s stock worth $344,000 after acquiring an additional 2,265 shares during the period. Bank of Montreal Can raised its holdings in Enterprise Products Partners by 2.3% in the 2nd quarter. Bank of Montreal Can now owns 25,371 shares of the oil and gas producer’s stock worth $739,000 after acquiring an additional 570 shares during the period. Finally, Insigneo Advisory Services LLC raised its holdings in Enterprise Products Partners by 20.2% in the 2nd quarter. Insigneo Advisory Services LLC now owns 14,647 shares of the oil and gas producer’s stock worth $408,000 after acquiring an additional 2,465 shares during the period. Hedge funds and other institutional investors 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.