Enterprise Products Partners (NYSE:EPD) Stock Price Down 1.4% – Should You Sell?

Enterprise Products Partners L.P. (NYSE:EPD) shares traded down 1.4% during mid-day trading on Wednesday. The stock traded as low as $37.47 and last traded at $37.4840. Approximately 2,817,843 shares were traded during mid-day trading, a decline of 27% from the average daily volume of 3,883,063 shares. The stock had previously closed at $38.01.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. 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. TD Cowen reiterated a “hold” rating and set a $38.00 price objective (down from $39.00) on shares of Enterprise Products Partners in a research report on Monday, August 3rd. Royal Bank Of Canada restated an “outperform” rating and issued a $42.00 target price on shares of Enterprise Products Partners in a report on Tuesday. Morgan Stanley reaffirmed an “underweight” rating and set a $41.00 target price (up from $40.00) on shares of Enterprise Products Partners in a research report on Tuesday, August 18th. Finally, Wall Street Zen upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Sunday, September 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Enterprise Products Partners presently has an average rating of “Hold” and an average price target of $40.12.

Enterprise Products Partners Stock Down 1.3%

The firm has a market cap of $79.46 billion, a PE ratio of 12.77, a P/E/G ratio of 1.40 and a beta of 0.50. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.93 and a quick ratio of 0.66. The business has a fifty day moving average price of $38.51 and a two-hundred day moving average price of $37.98.

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

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Friday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a yield of 6.1%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 77.78%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of institutional investors have recently modified their holdings of the company. Alps Advisors Inc. increased its stake in Enterprise Products Partners by 0.6% in the fourth quarter. Alps Advisors Inc. now owns 42,639,131 shares of the oil and gas producer’s stock valued at $1,367,011,000 after acquiring an additional 260,305 shares during the period. Auto Owners Insurance Co grew its stake in shares of Enterprise Products Partners by 3,106.0% in the 4th quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock valued at $102,784,000 after purchasing an additional 31,060,000 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Enterprise Products Partners by 12.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock worth $582,317,000 after buying an additional 1,940,583 shares in the last quarter. Energy Income Partners LLC bought a new position in shares of Enterprise Products Partners during the 2nd quarter worth approximately $508,461,000. Finally, Bank of America Corp DE acquired a new stake in Enterprise Products Partners in the 2nd quarter valued at $416,553,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a publicly traded midstream energy partnership that provides transportation, storage, processing and export services for crude oil, natural gas, natural gas liquids (NGLs), petrochemicals and refined products. The company operates an integrated network of pipelines, processing plants, fractionation facilities, storage assets and marine terminals.

Enterprise’s NGL operations include natural gas processing, NGL fractionation and the production and distribution of ethane, propane, butanes and natural gasoline.