Enterprise Products Partners (NYSE:EPD) Shares Down 6.1% – Should You Sell?

Shares of Enterprise Products Partners L.P. (NYSE:EPD) dropped 6.1% during trading on Friday . The stock traded as low as $30.85 and last traded at $31.45. Approximately 5,007,766 shares changed hands during mid-day trading, an increase of 19% from the average daily volume of 4,215,130 shares. The stock had previously closed at $33.47.

Analyst Ratings Changes

Several equities research analysts have issued reports on EPD shares. Royal Bank of Canada reissued an “outperform” rating and issued a $37.00 price target on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Barclays upped their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Finally, Truist Financial increased their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $36.89.

Enterprise Products Partners Stock Down 7.9 %

The firm has a fifty day moving average price of $33.41 and a 200 day moving average price of $31.86. 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 cap of $66.76 billion, a P/E ratio of 11.46, a PEG ratio of 1.37 and a beta of 0.78.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The firm had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter last year, the company posted $0.72 EPS. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. Equities research analysts forecast 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 issued a dividend of $0.535 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. This represents a $2.14 annualized dividend and a yield of 6.94%. Enterprise Products Partners’s dividend payout ratio is currently 79.55%.

Institutional Investors Weigh In On Enterprise Products Partners

Several hedge funds and other institutional investors have recently made changes to their positions in EPD. Kayne Anderson Capital Advisors LP increased its position in Enterprise Products Partners by 16.7% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock worth $426,125,000 after purchasing an additional 1,947,017 shares during the period. Barclays PLC boosted its stake in shares of Enterprise Products Partners by 110.0% in the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock valued at $73,699,000 after purchasing an additional 1,326,010 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Enterprise Products Partners during the 4th quarter worth approximately $36,279,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Enterprise Products Partners by 8.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer’s stock worth $330,739,000 after buying an additional 851,188 shares during the last quarter. Finally, KDK Private Wealth Management LLC acquired a new position in Enterprise Products Partners in the fourth quarter valued at approximately $22,333,000. 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.