Enterprise Products Partners (NYSE:EPD) Stock Price Down 1.1% – Here’s What Happened

Shares of Enterprise Products Partners L.P. (NYSE:EPD) were down 1.1% during mid-day trading on Wednesday. The stock traded as low as $35.58 and last traded at $35.6350. 5,511,278 shares traded hands during trading, an increase of 41% from the average session volume of 3,895,510 shares. The stock had previously closed at $36.02.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on EPD shares. Melius Research assumed coverage on shares of Enterprise Products Partners in a research note on Tuesday, September 22nd. They issued a “hold” rating and a $42.00 price target on the stock. JPMorgan Chase & Co. raised their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Stifel Nicolaus started coverage on Enterprise Products Partners in a report on Thursday, September 10th. They issued a “hold” rating and a $40.00 price objective for the company. Weiss Ratings upgraded shares of Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a report on Tuesday, August 11th. Finally, UBS Group reaffirmed a “buy” rating and issued a $45.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $40.12.

Enterprise Products Partners Stock Up 0.2%

The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $77.08 billion, a price-to-earnings ratio of 12.39, a P/E/G ratio of 1.31 and a beta of 0.50. The company’s 50 day moving average price is $38.27 and its 200 day moving average price is $37.95.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, beating the consensus estimate of $0.75 by $0.09. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The business had revenue of $18.27 billion for the quarter, compared to analyst estimates of $13.69 billion. During the same quarter in the prior year, the company posted $0.66 EPS. The company’s quarterly revenue was up 60.8% on a year-over-year basis. As a group, research analysts forecast that Enterprise Products Partners L.P. will post 3.02 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were paid a dividend of $0.56 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Friday, July 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 6.3%. Enterprise Products Partners’s dividend payout ratio is 77.78%.

Institutional Investors Weigh In On Enterprise Products Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. RFG Advisory LLC raised its stake in Enterprise Products Partners by 1.3% during the 2nd quarter. RFG Advisory LLC now owns 21,636 shares of the oil and gas producer’s stock valued at $795,000 after purchasing an additional 268 shares during the last quarter. Sigma Planning Corp grew its holdings in Enterprise Products Partners by 0.8% during the 2nd quarter. Sigma Planning Corp now owns 35,270 shares of the oil and gas producer’s stock worth $1,297,000 after acquiring an additional 270 shares during the period. Everest Financial Group LLC boosted its stake in Enterprise Products Partners by 3.6% during the 1st quarter. Everest Financial Group LLC now owns 7,886 shares of the oil and gas producer’s stock worth $298,000 after acquiring an additional 271 shares during the last quarter. Renasant Bank raised its position in shares of Enterprise Products Partners by 1.3% during the second quarter. Renasant Bank now owns 21,160 shares of the oil and gas producer’s stock worth $778,000 after purchasing an additional 271 shares during the period. Finally, Walker Asset Management LLC lifted its holdings in shares of Enterprise Products Partners by 1.4% in the second quarter. Walker Asset Management LLC now owns 20,256 shares of the oil and gas producer’s stock valued at $745,000 after purchasing an additional 282 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. is a publicly traded master limited partnership that owns and operates midstream energy infrastructure in the United States. The company transports, stores, processes and exports oil, natural gas, natural gas liquids (NGLs), refined products and petrochemicals.

Its operations include pipelines, natural gas processing plants, NGL fractionation facilities, underground storage, marine terminals and export infrastructure. Enterprise serves producers, refiners, petrochemical manufacturers, utilities and other energy customers by connecting major producing regions with domestic and international markets.

Enterprise Products Partners was founded in 1968 and is headquartered in Houston, Texas.