Enterprise Products Partners (NYSE:EPD) Stock Price Down 2.4% – What’s Next?

Enterprise Products Partners L.P. (NYSE:EPD) shares dropped 2.4% on Friday . The company traded as low as $32.72 and last traded at $33.2870. Approximately 7,090,677 shares changed hands during trading, an increase of 62% from the average daily volume of 4,363,854 shares. The stock had previously closed at $34.11.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. UBS Group reissued a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, December 16th. Morgan Stanley downgraded Enterprise Products Partners from an “equal weight” rating to an “underweight” rating and set a $34.00 price objective on the stock. in a research note on Thursday, December 18th. Wolfe Research lowered shares of Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 target price for the company. in a research report on Wednesday, January 14th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $35.00 price target on shares of Enterprise Products Partners in a report on Monday, December 1st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $34.77.

Enterprise Products Partners Stock Down 2.4%

The company has a market cap of $72.01 billion, a P/E ratio of 12.56, a price-to-earnings-growth ratio of 2.34 and a beta of 0.59. The company has a current ratio of 0.88, a quick ratio of 0.60 and a debt-to-equity ratio of 1.04. The firm’s 50 day moving average price is $32.39 and its 200-day moving average price is $31.74.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Wednesday, October 29th. The oil and gas producer reported $0.61 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.07). The business had revenue of $12.02 billion for the quarter, compared to the consensus estimate of $11.83 billion. Enterprise Products Partners had a net margin of 10.92% and a return on equity of 19.40%. The business’s revenue was down 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.65 EPS. As a group, equities research analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 30th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 6.6%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, January 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.26%.

Enterprise Products Partners declared that its board has authorized a stock repurchase program on Thursday, October 30th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the oil and gas producer to reacquire up to 7.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, Director John R. Rutherford bought 15,000 shares of the business’s stock in a transaction on Monday, December 29th. The shares were bought at an average cost of $32.09 per share, for a total transaction of $481,350.00. Following the completion of the acquisition, the director owned 173,586 shares in the company, valued at approximately $5,570,374.74. This trade represents a 9.46% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 32.60% of the company’s stock.

Institutional Trading of Enterprise Products Partners

Several hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC raised its position in shares of Enterprise Products Partners by 19.9% during the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock worth $1,023,000 after purchasing an additional 5,425 shares during the period. Truist Financial Corp boosted its holdings in shares of Enterprise Products Partners by 0.3% in the second quarter. Truist Financial Corp now owns 2,025,351 shares of the oil and gas producer’s stock valued at $62,806,000 after buying an additional 6,387 shares during the period. Hilltop National Bank bought a new stake in shares of Enterprise Products Partners during the second quarter worth $919,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of Enterprise Products Partners by 1.8% during the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 19,353 shares of the oil and gas producer’s stock worth $600,000 after acquiring an additional 347 shares during the period. Finally, Segment Wealth Management LLC lifted its position in Enterprise Products Partners by 1.3% in the 2nd quarter. Segment Wealth Management LLC now owns 254,651 shares of the oil and gas producer’s stock valued at $7,897,000 after acquiring an additional 3,166 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

About Enterprise Products Partners

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.