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

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price dropped 0.2% during trading on Friday . The stock traded as low as $32.32 and last traded at $32.36. Approximately 1,475,697 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 2,960,891 shares. The stock had previously closed at $32.44.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Truist Financial increased their price objective 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. Scotiabank assumed coverage on Enterprise Products Partners in a research report on Friday. They issued a “sector perform” rating and a $33.00 target price on the stock. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Finally, Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a research report on Wednesday, December 18th. Four investment 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.60.

Enterprise Products Partners Stock Performance

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 cap of $69.82 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 1.66 and a beta of 1.09. The firm has a 50 day moving average price of $31.72 and a 200 day moving average price of $30.08.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same quarter in the prior year, the business posted $0.60 earnings per share. The company’s revenue was up 14.8% compared to the same quarter last year. As a group, research analysts forecast that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 6.64%. The ex-dividend date is 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 80.15%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of large investors have recently modified their holdings of EPD. HBW Advisory Services LLC lifted its position in Enterprise Products Partners by 4.6% during the fourth quarter. HBW Advisory Services LLC now owns 26,703 shares of the oil and gas producer’s stock valued at $837,000 after purchasing an additional 1,165 shares during the period. A. D. Beadell Investment Counsel Inc. boosted its stake in shares of Enterprise Products Partners by 0.3% in the fourth quarter. A. D. Beadell Investment Counsel Inc. now owns 160,310 shares of the oil and gas producer’s stock worth $5,027,000 after buying an additional 500 shares during the last quarter. ST Germain D J Co. Inc. grew its holdings in Enterprise Products Partners by 14.5% during the fourth quarter. ST Germain D J Co. Inc. now owns 21,266 shares of the oil and gas producer’s stock worth $667,000 after acquiring an additional 2,696 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Enterprise Products Partners by 6.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,022,342 shares of the oil and gas producer’s stock valued at $29,760,000 after acquiring an additional 60,953 shares in the last quarter. Finally, ORG Partners LLC lifted its holdings in Enterprise Products Partners by 242.4% in the fourth quarter. ORG Partners LLC now owns 14,225 shares of the oil and gas producer’s stock valued at $446,000 after acquiring an additional 10,070 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.