Enterprise Products Partners (NYSE:EPD) Trading Down 0.5% – What’s Next?

Enterprise Products Partners L.P. (NYSE:EPD)’s share price dropped 0.5% during mid-day trading on Wednesday . The stock traded as low as $33.44 and last traded at $33.57. Approximately 798,813 shares changed hands during trading, a decline of 83% from the average daily volume of 4,732,548 shares. The stock had previously closed at $33.72.

Wall Street Analyst Weigh In

EPD has been the topic of a number of analyst reports. Scotiabank assumed coverage on shares of Enterprise Products Partners in a research note on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price objective on the stock. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a research report on Wednesday, December 18th. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Citigroup boosted their price objective on Enterprise Products Partners from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Finally, Truist Financial raised their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $34.70.

Enterprise Products Partners Stock Performance

The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The company has a fifty day moving average price of $32.60 and a 200 day moving average price of $30.89. The stock has a market cap of $72.41 billion, a P/E ratio of 12.42, a P/E/G ratio of 1.38 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter last year, the firm posted $0.72 EPS. Enterprise Products Partners’s revenue was down 2.9% compared to the same quarter last year. On average, equities analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.41%. The ex-dividend date of this dividend was Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio is currently 79.55%.

Hedge Funds Weigh In On Enterprise Products Partners

Hedge funds have recently added to or reduced their stakes in the stock. Trust Co. of Vermont raised its stake in shares of Enterprise Products Partners by 10.0% in the fourth quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer’s stock worth $104,000 after purchasing an additional 300 shares during the last quarter. Griffin Asset Management Inc. grew its holdings in Enterprise Products Partners by 0.8% during the fourth quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer’s stock worth $1,203,000 after buying an additional 305 shares in the last quarter. Evanson Asset Management LLC raised its position in Enterprise Products Partners by 0.4% in the 4th quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer’s stock valued at $2,304,000 after buying an additional 306 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in Enterprise Products Partners by 14.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer’s stock valued at $78,000 after acquiring an additional 308 shares in the last quarter. Finally, Sandbox Financial Partners LLC lifted its stake in Enterprise Products Partners by 3.2% during the 4th quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer’s stock valued at $317,000 after acquiring an additional 309 shares in the last quarter. Institutional investors and hedge funds 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.