Enterprise Products Partners (NYSE:EPD) Trading Down 2% – Time to Sell?

Enterprise Products Partners L.P. (NYSE:EPD) shares dropped 2% during trading on Monday . The stock traded as low as $30.26 and last traded at $30.39. Approximately 1,236,767 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 5,212,433 shares. The stock had previously closed at $31.02.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Truist Financial boosted their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $37.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $36.89.

Enterprise Products Partners Stock Down 3.2 %

The business’s fifty day simple moving average is $32.61 and its 200 day simple moving average is $31.91. The stock has a market cap of $65.04 billion, a price-to-earnings ratio of 11.16, a price-to-earnings-growth ratio of 1.37 and a beta of 0.78. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.05. The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.72 earnings per share. Equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be given a dividend of $0.535 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a dividend yield of 7.13%. Enterprise Products Partners’s dividend payout ratio is 79.55%.

Institutional Trading of Enterprise Products Partners

A number of large investors have recently made changes to their positions in EPD. Invesco Ltd. increased its holdings in shares of Enterprise Products Partners by 1.3% in the fourth quarter. Invesco Ltd. now owns 27,076,718 shares of the oil and gas producer’s stock worth $849,126,000 after acquiring an additional 359,288 shares in the last quarter. FMR LLC increased its stake in Enterprise Products Partners by 2.1% during the 4th quarter. FMR LLC now owns 14,734,295 shares of the oil and gas producer’s stock worth $462,067,000 after purchasing an additional 304,997 shares in the last quarter. Kayne Anderson Capital Advisors LP raised its holdings in Enterprise Products Partners by 16.7% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock worth $426,125,000 after buying an additional 1,947,017 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Enterprise Products Partners by 8.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer’s stock valued at $330,739,000 after buying an additional 851,188 shares in the last quarter. Finally, Westwood Holdings Group Inc. boosted its holdings in shares of Enterprise Products Partners by 11.1% in the fourth quarter. Westwood Holdings Group Inc. now owns 5,830,088 shares of the oil and gas producer’s stock valued at $182,832,000 after buying an additional 580,850 shares during the period. 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.