Enterprise Products Partners (NYSE:EPD) Trading Down 0.2% – Here’s What Happened

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price dropped 0.2% on Friday . The company traded as low as $30.96 and last traded at $31.08. Approximately 489,879 shares changed hands during trading, a decline of 89% from the average daily volume of 4,282,021 shares. The stock had previously closed at $31.14.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Bank of America started coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price for the company. Finally, Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a research note on Wednesday, December 18th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Enterprise Products Partners has an average rating of “Moderate Buy” and a consensus price target of $34.20.

Enterprise Products Partners Price Performance

The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The stock’s fifty day moving average price is $31.15 and its two-hundred day moving average price is $29.85. The firm has a market capitalization of $67.35 billion, a price-to-earnings ratio of 11.64, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08.

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 return on equity of 20.31% and a net margin of 10.32%. The business had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. During the same period last year, the firm earned $0.60 earnings per share. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were paid a $0.525 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 6.76%. Enterprise Products Partners’s dividend payout ratio is currently 78.65%.

Hedge Funds Weigh In On Enterprise Products Partners

Hedge funds have recently made changes to their positions in the company. Hantz Financial Services Inc. purchased a new position in Enterprise Products Partners during the 2nd quarter worth approximately $25,000. Mascoma Wealth Management LLC purchased a new position in shares of Enterprise Products Partners during the second quarter worth approximately $29,000. DiNuzzo Private Wealth Inc. raised its position in Enterprise Products Partners by 1,000.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 1,000 shares during the last quarter. Assetmark Inc. boosted its stake in Enterprise Products Partners by 19,800.0% during the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after purchasing an additional 1,188 shares during the period. Finally, Sanctuary Wealth Management L.L.C. purchased a new position in Enterprise Products Partners during the 3rd quarter worth $36,000. 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.