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

Enterprise Products Partners L.P. (NYSE:EPD) traded down 0.2% during mid-day trading on Tuesday . The company traded as low as $33.41 and last traded at $33.62. 847,389 shares traded hands during trading, a decline of 80% from the average session volume of 4,134,627 shares. The stock had previously closed at $33.68.

Analyst Ratings Changes

A number of research analysts recently commented on EPD shares. Truist Financial increased their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report 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. Scotiabank increased their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research note on Thursday, March 6th. Barclays boosted their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Finally, 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. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Enterprise Products Partners has an average rating of “Moderate Buy” and a consensus price target of $35.90.

Enterprise Products Partners Stock Down 0.2 %

The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The stock’s fifty day simple moving average is $33.43 and its two-hundred day simple moving average is $31.61. The company has a market capitalization of $72.82 billion, a price-to-earnings ratio of 12.49, a P/E/G ratio of 1.37 and a beta of 1.08.

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

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a $0.535 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.36%. Enterprise Products Partners’s dividend payout ratio (DPR) is 79.55%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Trust Co. of Vermont boosted its holdings in shares of Enterprise Products Partners by 10.0% during 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 period. Griffin Asset Management Inc. lifted its holdings in shares of Enterprise Products Partners by 0.8% during the 4th quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer’s stock valued at $1,203,000 after buying an additional 305 shares during the last quarter. Evanson Asset Management LLC increased its holdings in Enterprise Products Partners by 0.4% in the fourth quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer’s stock worth $2,304,000 after buying an additional 306 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in shares of 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 worth $78,000 after purchasing an additional 308 shares during the last quarter. Finally, Sandbox Financial Partners LLC raised its holdings in Enterprise Products Partners by 3.2% during the fourth quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer’s stock valued at $317,000 after buying an additional 309 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

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.