Enterprise Products Partners (NYSE:EPD) Shares Down 0.4% – Here’s What Happened

Shares of Enterprise Products Partners L.P. (NYSE:EPD) were down 0.4% during mid-day trading on Tuesday . The stock traded as low as $31.28 and last traded at $31.44. Approximately 616,217 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 4,292,135 shares. The stock had previously closed at $31.58.

Wall Street Analysts Forecast Growth

A number of research firms have commented on EPD. Bank of America assumed coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective on the stock. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $34.00.

Enterprise Products Partners Price Performance

The business has a 50-day moving average of $30.83 and a two-hundred day moving average of $29.69. 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 firm has a market cap of $67.76 billion, a P/E ratio of 11.74, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). The business had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.60 earnings per share. On average, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal 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 given a dividend of $0.525 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.72%. Enterprise Products Partners’s dividend payout ratio (DPR) is 78.65%.

Institutional Trading of Enterprise Products Partners

A number of large investors have recently bought and sold shares of the business. Brookstone Capital Management lifted its position 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. MFA Wealth Advisors LLC bought a new stake in shares of Enterprise Products Partners during the second quarter valued at approximately $37,000. Busey Bank lifted its holdings in shares of Enterprise Products Partners by 47.7% in the 2nd quarter. Busey Bank now owns 55,088 shares of the oil and gas producer’s stock worth $1,596,000 after purchasing an additional 17,794 shares in the last quarter. First Bancorp Inc ME bought a new stake in Enterprise Products Partners during the 2nd quarter valued at $299,000. Finally, American National Bank raised its holdings in Enterprise Products Partners by 5.1% during the second quarter. American National Bank now owns 21,509 shares of the oil and gas producer’s stock worth $623,000 after buying an additional 1,040 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

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.