Enterprise Products Partners (NYSE:EPD) Shares Down 0.3% – Here’s Why

Enterprise Products Partners L.P. (NYSE:EPD) shares fell 0.3% during trading on Wednesday . The stock traded as low as $28.85 and last traded at $28.85. 520,026 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 4,277,300 shares. The stock had previously closed at $28.95.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Royal Bank of Canada boosted their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Bank of America began coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target for the company. Truist Financial lifted their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $33.73.

Enterprise Products Partners Stock Up 0.1 %

The firm has a market cap of $63.08 billion, a price-to-earnings ratio of 11.42, a P/E/G ratio of 1.49 and a beta of 1.03. The firm has a fifty day simple moving average of $29.25 and a 200-day simple moving average of $28.95. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The company had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The firm’s quarterly revenue was up 26.6% on a year-over-year basis. During the same quarter last year, the company posted $0.57 EPS. As a group, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.71 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 7.23%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is currently 82.35%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. O Shaughnessy Asset Management LLC raised its holdings in shares of Enterprise Products Partners by 19.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock worth $685,000 after buying an additional 3,770 shares in the last quarter. Sanders Morris Harris LLC boosted its stake in shares of Enterprise Products Partners by 28.1% in the 3rd quarter. Sanders Morris Harris LLC now owns 705,804 shares of the oil and gas producer’s stock valued at $20,546,000 after purchasing an additional 154,822 shares in the last quarter. Nwam LLC grew its holdings in shares of Enterprise Products Partners by 25.1% during the 1st quarter. Nwam LLC now owns 20,822 shares of the oil and gas producer’s stock valued at $591,000 after purchasing an additional 4,184 shares during the last quarter. J.W. Cole Advisors Inc. grew its stake in shares of Enterprise Products Partners by 10.8% during the first quarter. J.W. Cole Advisors Inc. now owns 48,832 shares of the oil and gas producer’s stock worth $1,425,000 after buying an additional 4,757 shares during the last quarter. Finally, Natixis grew its position in Enterprise Products Partners by 144.9% during the 1st quarter. Natixis now owns 74,872 shares of the oil and gas producer’s stock worth $2,185,000 after acquiring an additional 44,300 shares during the last quarter. Institutional investors and hedge funds 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.