Enterprise Products Partners (NYSE:EPD) Stock Price Down 0% – Here’s What Happened

Enterprise Products Partners L.P. (NYSE:EPD) was down 0% during mid-day trading on Monday . The stock traded as low as $33.12 and last traded at $33.34. Approximately 1,130,054 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 4,719,225 shares. The stock had previously closed at $33.34.

Analyst Ratings Changes

A number of brokerages recently commented on EPD. Scotiabank began coverage on Enterprise Products Partners in a research note on Friday, January 10th. They set a “sector perform” rating and a $33.00 price objective for the company. Wells Fargo & Company cut 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 report on Wednesday, December 18th. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Finally, US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Four 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.70.

Enterprise Products Partners Price Performance

The business has a 50-day simple moving average of $32.63 and a two-hundred day simple moving average of $30.96. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $73.01 billion, a price-to-earnings ratio of 12.52, a P/E/G ratio of 1.37 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last announced 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. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter last year, the business posted $0.72 earnings per share. The company’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, research analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal 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 paid a dividend of $0.535 per share. 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. This represents a $2.14 annualized dividend and a yield of 6.35%. Enterprise Products Partners’s dividend payout ratio is currently 79.55%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Rosenberg Matthew Hamilton grew its holdings in shares of Enterprise Products Partners by 364.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 656 shares during the last quarter. Tidemark LLC boosted its position in shares of Enterprise Products Partners by 54.3% in the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 318 shares during the period. Lee Danner & Bass Inc. purchased a new position in Enterprise Products Partners in the 4th quarter worth about $29,000. Crowley Wealth Management Inc. acquired a new stake in Enterprise Products Partners during the 4th quarter worth about $30,000. Finally, National Bank of Canada FI lifted its stake in Enterprise Products Partners by 55.4% during the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 360 shares in the last quarter. Institutional investors and hedge funds 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.