Enterprise Products Partners (NYSE:EPD) Stock Price Down 0.5% – Should You Sell?

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

Analyst Upgrades and Downgrades

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

Enterprise Products Partners Stock Up 0.1 %

The firm’s fifty day simple moving average is $29.25 and its two-hundred day simple moving average is $28.95. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $62.90 billion, a price-to-earnings ratio of 11.36, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data 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 return on equity of 20.13% and a net margin of 10.48%. The business had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $14.23 billion. During the same quarter in the previous year, the company posted $0.57 earnings per share. The company’s revenue was up 26.6% on a year-over-year basis. Sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.71 EPS for the current year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be issued a $0.525 dividend. The ex-dividend date is Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 7.25%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 82.35%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Hantz Financial Services Inc. acquired a new position in shares of Enterprise Products Partners in the 2nd quarter worth approximately $25,000. Stephens Consulting LLC purchased a new position in shares of Enterprise Products Partners during the first quarter worth $29,000. Palisade Asset Management LLC purchased a new stake in shares of Enterprise Products Partners in the 1st quarter valued at $29,000. Mascoma Wealth Management LLC acquired a new position in Enterprise Products Partners during the 2nd quarter worth about $29,000. Finally, DiNuzzo Private Wealth Inc. boosted its holdings in Enterprise Products Partners by 1,000.0% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after acquiring an additional 1,000 shares during the period. 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.