Enterprise Products Partners (NYSE:EPD) Trading Down 2.1% – Here’s Why

Enterprise Products Partners L.P. (NYSE:EPD) shares fell 2.1% during trading on Wednesday . The stock traded as low as $37.47 and last traded at $37.6760. 4,566,065 shares traded hands during mid-day trading, a decline of 4% from the average session volume of 4,752,391 shares. The stock had previously closed at $38.50.

Analyst Upgrades and Downgrades

Several research firms recently commented on EPD. Wall Street Zen upgraded Enterprise Products Partners from a “hold” rating to a “buy” rating in a research report on Monday, April 6th. Wells Fargo & Company upgraded Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $40.00 to $42.00 in a research report on Wednesday, March 25th. JPMorgan Chase & Co. lifted their price target on Enterprise Products Partners from $35.00 to $39.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 10th. Royal Bank Of Canada lifted their price target on Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, March 30th. Finally, Truist Financial lifted their price target on Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a research report on Monday. Nine investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $38.93.

Enterprise Products Partners Trading Down 2.1%

The company has a quick ratio of 0.74, a current ratio of 1.04 and a debt-to-equity ratio of 1.07. The firm has a market cap of $81.45 billion, a P/E ratio of 14.26, a P/E/G ratio of 1.46 and a beta of 0.52. The company’s 50 day simple moving average is $37.55 and its 200-day simple moving average is $34.32.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, April 28th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.03). The firm had revenue of $14.39 billion during the quarter, compared to the consensus estimate of $13.62 billion. Enterprise Products Partners had a return on equity of 19.56% and a net margin of 11.45%.The firm’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.64 EPS. As a group, research analysts predict that Enterprise Products Partners L.P. will post 2.89 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Thursday, April 30th. This represents a $2.20 annualized dividend and a yield of 5.8%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 81.48%.

Insider Transactions at Enterprise Products Partners

In other news, CEO Aj Teague acquired 2,665 shares of the firm’s stock in a transaction on Friday, March 20th. The stock was acquired at an average price of $37.55 per share, with a total value of $100,070.75. Following the completion of the purchase, the chief executive officer directly owned 77,576 shares in the company, valued at approximately $2,912,978.80. This trade represents a 3.56% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 32.60% of the stock is currently owned by insiders.

Institutional Trading of Enterprise Products Partners

Several institutional investors have recently added to or reduced their stakes in the company. Simon Quick Advisors LLC raised its stake in shares of Enterprise Products Partners by 34.3% during the first quarter. Simon Quick Advisors LLC now owns 35,914 shares of the oil and gas producer’s stock valued at $1,359,000 after acquiring an additional 9,164 shares in the last quarter. Gryphon Financial Partners LLC bought a new stake in shares of Enterprise Products Partners during the first quarter valued at approximately $201,000. Modera Wealth Management LLC raised its stake in shares of Enterprise Products Partners by 31.1% during the first quarter. Modera Wealth Management LLC now owns 22,845 shares of the oil and gas producer’s stock valued at $864,000 after acquiring an additional 5,418 shares in the last quarter. Townsend Asset Management Corp NC ADV raised its stake in shares of Enterprise Products Partners by 31.3% during the first quarter. Townsend Asset Management Corp NC ADV now owns 8,821 shares of the oil and gas producer’s stock valued at $334,000 after acquiring an additional 2,104 shares in the last quarter. Finally, Advisortrust Partners LLC raised its stake in shares of Enterprise Products Partners by 13.7% during the first quarter. Advisortrust Partners LLC now owns 9,263 shares of the oil and gas producer’s stock valued at $351,000 after acquiring an additional 1,114 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.