Enterprise Products Partners (NYSE:EPD) Shares Down 1.6% – Here’s Why

Enterprise Products Partners L.P. (NYSE:EPD)’s share price was down 1.6% during trading on Monday . The company traded as low as $33.88 and last traded at $33.89. Approximately 1,463,018 shares changed hands during trading, a decline of 66% from the average daily volume of 4,299,346 shares. The stock had previously closed at $34.43.

Wall Street Analyst Weigh In

A number of equities analysts have commented on EPD shares. Royal Bank of Canada restated an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Bank of America assumed coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective for the company. Finally, US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Buy” and a consensus target price of $34.00.

Enterprise Products Partners Price Performance

The company has a market capitalization of $71.20 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 1.74 and a beta of 1.08. The company’s 50 day simple moving average is $30.27 and its 200-day simple moving average is $29.43. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

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

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were given a $0.525 dividend. The ex-dividend date was Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 6.39%. Enterprise Products Partners’s dividend payout ratio is presently 78.65%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Paragon Advisors LLC purchased a new stake in shares of Enterprise Products Partners during the third quarter valued at approximately $2,628,000. FMR LLC raised its stake in shares of Enterprise Products Partners by 9.3% during the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after purchasing an additional 1,225,988 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of Enterprise Products Partners by 5.2% during the third quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock valued at $118,561,000 after purchasing an additional 200,625 shares during the period. Brown Brothers Harriman & Co. increased its stake in shares of Enterprise Products Partners by 37.7% in the third quarter. Brown Brothers Harriman & Co. now owns 58,510 shares of the oil and gas producer’s stock worth $1,703,000 after buying an additional 16,018 shares during the last quarter. Finally, Caprock Group LLC bought a new stake in shares of Enterprise Products Partners in the third quarter worth $1,943,000. 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.