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

Enterprise Products Partners L.P. (NYSE:EPD)’s share price dropped 0.2% during mid-day trading on Friday . The stock traded as low as $32.32 and last traded at $32.36. Approximately 1,475,697 shares changed hands during trading, a decline of 50% from the average daily volume of 2,960,891 shares. The stock had previously closed at $32.44.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on EPD shares. Scotiabank assumed coverage on shares of Enterprise Products Partners in a report on Friday. They issued a “sector perform” rating and a $33.00 price target on the stock. Bank of America began coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective on the stock. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Finally, Truist Financial upped their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.60.

Enterprise Products Partners Stock Performance

The business has a 50 day moving average of $31.65 and a 200-day moving average of $30.05. The company has a market capitalization of $70.25 billion, a P/E ratio of 12.14, a price-to-earnings-growth ratio of 1.66 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The firm had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 earnings per share. On average, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a $0.535 dividend. This represents a $2.14 annualized dividend and a yield of 6.60%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, January 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.15%.

Hedge Funds Weigh In On Enterprise Products Partners

Institutional investors have recently added to or reduced their stakes in the business. Natixis Advisors LLC raised its position in shares of Enterprise Products Partners by 48.4% during the 2nd quarter. Natixis Advisors LLC now owns 18,048 shares of the oil and gas producer’s stock valued at $523,000 after buying an additional 5,887 shares in the last quarter. MGO One Seven LLC boosted its holdings in shares of Enterprise Products Partners by 18.9% in the 2nd quarter. MGO One Seven LLC now owns 43,098 shares of the oil and gas producer’s stock worth $1,249,000 after purchasing an additional 6,841 shares in the last quarter. LPL Financial LLC increased its position in shares of Enterprise Products Partners by 3.1% during the 2nd quarter. LPL Financial LLC now owns 2,761,031 shares of the oil and gas producer’s stock valued at $80,015,000 after purchasing an additional 83,435 shares during the last quarter. Bahl & Gaynor Inc. raised its holdings in shares of Enterprise Products Partners by 6.7% during the 2nd quarter. Bahl & Gaynor Inc. now owns 7,974 shares of the oil and gas producer’s stock valued at $231,000 after buying an additional 500 shares in the last quarter. Finally, BOKF NA raised its holdings in shares of Enterprise Products Partners by 1.9% during the 2nd quarter. BOKF NA now owns 84,586 shares of the oil and gas producer’s stock valued at $2,451,000 after buying an additional 1,598 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors.

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.