Enterprise Products Partners (NYSE:EPD) Shares Down 1.3% – Here’s Why

Shares of Enterprise Products Partners L.P. (NYSE:EPD) traded down 1.3% during trading on Monday . The stock traded as low as $33.07 and last traded at $33.15. 2,697,809 shares changed hands during mid-day trading, a decline of 30% from the average session volume of 3,844,347 shares. The stock had previously closed at $33.57.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Truist Financial upped their price target 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. Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a research report on Wednesday, December 18th. Finally, US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average target price of $34.60.

Enterprise Products Partners Trading Down 1.2 %

The firm has a market cap of $71.91 billion, a PE ratio of 12.43, a PEG ratio of 1.60 and a beta of 1.09. The stock’s fifty day simple moving average is $32.38 and its two-hundred day simple moving average is $30.40. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data 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). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The company had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same quarter last year, the company earned $0.60 earnings per share. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.67 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a $0.535 dividend. This represents a $2.14 annualized dividend and a yield of 6.45%. The ex-dividend date is Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio is 78.65%.

Institutional Investors Weigh In On Enterprise Products Partners

Several hedge funds have recently modified their holdings of the business. Pathway Financial Advisers LLC increased its position in shares of Enterprise Products Partners by 2,862.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after acquiring an additional 7,494,224 shares during the period. Barclays PLC grew its position in Enterprise Products Partners by 110.0% during the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock worth $73,699,000 after purchasing an additional 1,326,010 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Enterprise Products Partners by 2,854.1% in the 3rd quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock valued at $37,474,000 after buying an additional 1,243,741 shares during the period. FMR LLC boosted its stake in shares of Enterprise Products Partners by 9.3% in the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after buying an additional 1,225,988 shares during the last quarter. Finally, Merewether Investment Management LP purchased a new position in Enterprise Products Partners during the third quarter valued at approximately $30,746,000. Hedge funds and other institutional investors 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.