Enterprise Products Partners (NYSE:EPD) Trading Down 0.5% – Here’s Why

Shares of Enterprise Products Partners L.P. (NYSE:EPD) fell 0.5% during mid-day trading on Tuesday . The stock traded as low as $28.85 and last traded at $28.86. 908,784 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 4,283,058 shares. The stock had previously closed at $29.00.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on EPD. Truist Financial boosted their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Royal Bank of Canada upped their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Bank of America started coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective for the company. Finally, StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $33.73.

Enterprise Products Partners Trading Down 0.0 %

The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The firm’s 50 day simple moving average is $29.23 and its two-hundred day simple moving average is $28.96. The stock has a market cap of $62.95 billion, a P/E ratio of 11.32, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03.

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

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders 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 dividend yield of 7.24%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.35%.

Institutional Trading of Enterprise Products Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in EPD. Plan Group Financial LLC grew its holdings in Enterprise Products Partners by 12.1% during the third quarter. Plan Group Financial LLC now owns 31,678 shares of the oil and gas producer’s stock worth $922,000 after acquiring an additional 3,418 shares during the period. Albert D Mason Inc. grew its position in Enterprise Products Partners by 2.6% in the third quarter. Albert D Mason Inc. now owns 38,886 shares of the oil and gas producer’s stock worth $1,132,000 after buying an additional 1,001 shares during the last quarter. Private Advisor Group LLC lifted its position in shares of Enterprise Products Partners by 3.8% during the 3rd quarter. Private Advisor Group LLC now owns 377,263 shares of the oil and gas producer’s stock valued at $10,982,000 after acquiring an additional 13,890 shares during the last quarter. Symphony Financial Ltd. Co. bought a new stake in shares of Enterprise Products Partners during the 3rd quarter worth $201,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in shares of Enterprise Products Partners by 16.4% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 2,045,599 shares of the oil and gas producer’s stock worth $59,547,000 after purchasing an additional 288,420 shares during the period. 26.07% of the stock is currently 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.