Enterprise Products Partners (NYSE:EPD) Stock Price Down 0.7%

Enterprise Products Partners L.P. (NYSE:EPD)’s share price dropped 0.7% during trading on Tuesday . The company traded as low as $28.24 and last traded at $28.31. Approximately 1,641,362 shares changed hands during trading, a decline of 66% from the average daily volume of 4,897,837 shares. The stock had previously closed at $28.51.

Wall Street Analyst Weigh In

EPD has been the topic of a number of analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 price objective on shares of Enterprise Products Partners in a research report on Friday, April 5th. StockNews.com upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 9th. Truist Financial lifted their price objective on Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Wells Fargo & Company lifted their price objective on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Finally, Stifel Nicolaus raised their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Enterprise Products Partners presently has a consensus rating of “Buy” and a consensus target price of $32.58.

Enterprise Products Partners Price Performance

The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.68. The stock has a 50 day moving average price of $28.27 and a two-hundred day moving average price of $27.24. The firm has a market capitalization of $61.57 billion, a price-to-earnings ratio of 11.27 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The business had revenue of $14.62 billion during the quarter, compared to analysts’ expectations of $12.43 billion. During the same period in the previous year, the firm posted $0.65 earnings per share. The company’s revenue was up 7.1% on a year-over-year basis. As a group, analysts expect that Enterprise Products Partners L.P. will post 2.63 EPS for the current year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be paid a $0.515 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.25%. Enterprise Products Partners’s payout ratio is presently 81.75%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Fairfield Bush & CO. acquired a new position in Enterprise Products Partners during the 2nd quarter worth $26,000. Stephens Consulting LLC purchased a new stake in Enterprise Products Partners during the 1st quarter worth about $29,000. Pacific Center for Financial Services purchased a new stake in Enterprise Products Partners during the 1st quarter worth about $27,000. Burkett Financial Services LLC purchased a new stake in Enterprise Products Partners during the 4th quarter worth about $28,000. Finally, Financial Freedom LLC purchased a new stake in shares of Enterprise Products Partners in the 4th quarter valued at about $38,000. 26.07% of the stock is owned by institutional investors and hedge funds.

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.