Enterprise Products Partners (NYSE:EPD) Shares Down 1.2% – Time to Sell?

Enterprise Products Partners L.P. (NYSE:EPD) fell 1.2% on Friday . The company traded as low as $28.54 and last traded at $28.61. 1,457,909 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 4,369,578 shares. The stock had previously closed at $28.95.

Analysts Set New Price Targets

EPD has been the topic of several recent analyst reports. Truist Financial lifted their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Scotiabank boosted their target price on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a report on Thursday, March 6th. Morgan Stanley raised their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 11th. Barclays boosted their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. Finally, Wells Fargo & Company lowered 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 report on Wednesday, December 18th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.89.

Enterprise Products Partners Trading Up 1.2 %

The stock’s fifty day moving average is $32.84 and its 200 day moving average is $31.84. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The stock has a market cap of $63.44 billion, a P/E ratio of 10.89, a P/E/G ratio of 1.37 and a beta of 0.78.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS 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 firm had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the previous year, the business earned $0.72 EPS. The company’s quarterly 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be paid a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 7.31%. The ex-dividend date is Wednesday, April 30th. Enterprise Products Partners’s dividend payout ratio is currently 79.55%.

Hedge Funds Weigh In On Enterprise Products Partners

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

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.