Enterprise Products Partners (NYSE:EPD) Trading Down 0.7% – Here’s Why

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

Analyst Ratings Changes

EPD has been the subject of several recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Bank of America initiated 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 objective for the company. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a report on Wednesday, December 18th. Finally, US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.20.

Enterprise Products Partners Stock Down 1.1 %

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 business has a 50 day moving average of $31.08 and a 200 day moving average of $29.81. The firm has a market capitalization of $67.52 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data 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 business had revenue of $13.78 billion for the quarter, compared to the consensus estimate 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 was up 14.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.60 earnings per share. On average, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a $0.525 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 6.74%. Enterprise Products Partners’s dividend payout ratio is currently 78.65%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. lifted its holdings in Enterprise Products Partners by 16.2% during the 3rd quarter. Franklin Resources Inc. now owns 156,933 shares of the oil and gas producer’s stock valued at $4,628,000 after purchasing an additional 21,834 shares during the last quarter. Peapack Gladstone Financial Corp raised its stake in shares of Enterprise Products Partners by 61.7% in the third quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock valued at $3,954,000 after acquiring an additional 51,809 shares during the last quarter. Synovus Financial Corp boosted its holdings in shares of Enterprise Products Partners by 20.0% in the 3rd quarter. Synovus Financial Corp now owns 50,140 shares of the oil and gas producer’s stock worth $1,460,000 after acquiring an additional 8,361 shares in the last quarter. Optimist Retirement Group LLC grew its position in Enterprise Products Partners by 3.3% during the 3rd quarter. Optimist Retirement Group LLC now owns 67,080 shares of the oil and gas producer’s stock worth $1,953,000 after acquiring an additional 2,152 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB increased its holdings in Enterprise Products Partners by 1,183.4% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 91,725 shares of the oil and gas producer’s stock valued at $2,670,000 after purchasing an additional 84,578 shares in the last quarter. 26.07% of the stock is owned by 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.