Enterprise Products Partners (NYSE:EPD) Stock Price Down 0.7% – Here’s What Happened

Enterprise Products Partners L.P. (NYSE:EPD) fell 0.7% during trading on Tuesday . The company traded as low as $33.19 and last traded at $33.40. 3,382,017 shares traded hands during trading, a decline of 29% from the average session volume of 4,783,305 shares. The stock had previously closed at $33.64.

Analysts Set New Price Targets

Several research firms recently issued reports on EPD. Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Scotiabank initiated coverage on shares of Enterprise Products Partners in a research report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 price objective for the company. Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a research note on Wednesday, December 18th. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Finally, Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock 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 quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The firm has a 50-day moving average price of $32.67 and a two-hundred day moving average price of $30.99. The firm has a market cap of $72.54 billion, a PE ratio of 12.44, a P/E/G ratio of 1.37 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the firm posted $0.72 EPS. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. Research analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 6.39%. The ex-dividend date of this dividend was Friday, January 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio is currently 79.55%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Rosenberg Matthew Hamilton lifted its position in Enterprise Products Partners by 364.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 656 shares in the last quarter. Tidemark LLC increased its stake in shares of Enterprise Products Partners by 54.3% in 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 shares of Enterprise Products Partners during the 4th quarter worth $29,000. Crowley Wealth Management Inc. acquired a new position in shares of Enterprise Products Partners during the 4th quarter valued at about $30,000. Finally, National Bank of Canada FI grew its holdings in shares of 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 valued at $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.

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.