Enterprise Products Partners (NYSE:EPD) Trading Down 0.8% – Here’s What Happened

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price fell 0.8% on Thursday . The stock traded as low as $33.35 and last traded at $33.37. 520,738 shares were traded during trading, a decline of 89% from the average session volume of 4,712,808 shares. The stock had previously closed at $33.65.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on EPD shares. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a report on Wednesday, December 18th. Citigroup increased their price target on shares of Enterprise Products Partners from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Finally, US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Enterprise Products Partners currently has an average rating of “Moderate Buy” and a consensus target price of $34.70.

Enterprise Products Partners Stock Performance

The company has a fifty day moving average of $32.58 and a two-hundred day moving average of $30.88. The firm has a market capitalization of $72.86 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 1.57 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter last year, the firm earned $0.72 earnings per share. The company’s revenue was down 2.9% on a year-over-year basis. As a group, equities research analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced 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 represents a $2.14 dividend on an annualized basis and a dividend yield of 6.37%. The ex-dividend date of this dividend was Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio is presently 79.55%.

Institutional Investors Weigh In On Enterprise Products Partners

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rosenberg Matthew Hamilton raised its holdings in Enterprise Products Partners by 364.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 656 shares in the last quarter. Tidemark LLC increased its position in shares of Enterprise Products Partners by 54.3% in the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 318 shares during the period. Lee Danner & Bass Inc. acquired a new position in Enterprise Products Partners in the fourth quarter valued at about $29,000. Crowley Wealth Management Inc. bought a new stake in Enterprise Products Partners during the fourth quarter worth about $30,000. Finally, National Bank of Canada FI grew its stake in Enterprise Products Partners by 55.4% during the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock worth $32,000 after buying an additional 360 shares in the last quarter. 26.07% of the stock is currently 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.