Enterprise Products Partners (NYSE:EPD) Trading Down 0.3% – Time to Sell?

Enterprise Products Partners L.P. (NYSE:EPD) fell 0.3% during mid-day 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.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on EPD shares. Truist Financial raised their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. 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 target on the stock. Royal Bank of Canada increased their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. One 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. Based on data from MarketBeat.com, Enterprise Products Partners has an average rating of “Buy” and a consensus price target of $33.73.

Enterprise Products Partners Price Performance

The firm has a market capitalization of $62.56 billion, a PE ratio of 11.31, a P/E/G ratio of 1.49 and a beta of 1.03. The firm’s fifty day moving average price is $29.24 and its 200 day moving average price is $28.95. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.02). The business had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. Enterprise Products Partners’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.57 earnings per share. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 7.29%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.35%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of EPD. Blackstone Inc. grew its stake in shares of Enterprise Products Partners by 6.3% during the 1st quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock worth $686,712,000 after purchasing an additional 1,391,370 shares during the period. Reaves W H & Co. Inc. boosted its holdings in Enterprise Products Partners by 1,368.4% during the first quarter. Reaves W H & Co. Inc. now owns 1,468,440 shares of the oil and gas producer’s stock worth $42,849,000 after buying an additional 1,368,440 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Enterprise Products Partners by 2,854.1% during the third quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock worth $37,474,000 after buying an additional 1,243,741 shares in the last quarter. Berkley W R Corp grew its position in Enterprise Products Partners by 24.5% during the first quarter. Berkley W R Corp now owns 5,089,794 shares of the oil and gas producer’s stock valued at $148,520,000 after buying an additional 1,000,000 shares during the period. Finally, Distillate Capital Partners LLC increased its holdings in Enterprise Products Partners by 160,136.7% in the second quarter. Distillate Capital Partners LLC now owns 767,534 shares of the oil and gas producer’s stock valued at $22,243,000 after buying an additional 767,055 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

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.