Enterprise Products Partners (NYSE:EPD) Shares Down 1.5% – Here’s What Happened

Enterprise Products Partners L.P. (NYSE:EPD)’s share price traded down 1.5% during mid-day trading on Tuesday . The stock traded as low as $33.05 and last traded at $33.22. 1,662,088 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 4,776,636 shares. The stock had previously closed at $33.73.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EPD. Scotiabank began coverage on shares of Enterprise Products Partners in a report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price target on the stock. Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Truist Financial boosted their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a research report on Wednesday, December 18th. Finally, Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.70.

Enterprise Products Partners Stock Performance

The business has a 50 day moving average of $32.91 and a 200 day moving average of $31.16. 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 company has a market capitalization of $72.30 billion, a P/E ratio of 12.40, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The business 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 business’s revenue was down 2.9% on a year-over-year basis. During the same period last year, the company posted $0.72 EPS. On average, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a dividend of $0.535 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.42%. Enterprise Products Partners’s payout ratio is 79.55%.

Institutional Trading of Enterprise Products Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of EPD. Verity & Verity LLC increased its stake in Enterprise Products Partners by 30.8% in the 4th quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock worth $3,470,000 after buying an additional 26,032 shares during the period. Spinnaker Trust bought a new position in Enterprise Products Partners in the fourth quarter worth approximately $280,000. FourThought Financial Partners LLC increased its holdings in Enterprise Products Partners by 18.5% during the 4th quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer’s stock worth $4,407,000 after purchasing an additional 21,970 shares during the period. Paragon Advisors LLC purchased a new stake in shares of Enterprise Products Partners in the 3rd quarter worth $2,628,000. Finally, FMR LLC lifted its stake in Enterprise Products Partners by 9.3% in the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after acquiring an additional 1,225,988 shares during the period. Hedge funds and other 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.