Enterprise Products Partners (NYSE:EPD) Trading Down 0.1% – Here’s What Happened

Enterprise Products Partners L.P. (NYSE:EPD)’s share price fell 0.1% during mid-day trading on Friday . The company traded as low as $33.70 and last traded at $33.92. 714,061 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 4,119,408 shares. The stock had previously closed at $33.95.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on EPD shares. JPMorgan Chase & Co. upped their price objective on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday. Truist Financial upped their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Scotiabank lifted their price objective on 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 increased their target price on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, March 11th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $37.00 price target on shares of Enterprise Products Partners in a research note on Wednesday. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Enterprise Products Partners has an average rating of “Moderate Buy” and an average target price of $36.60.

Enterprise Products Partners Stock Up 0.5 %

The stock has a market capitalization of $73.90 billion, a price-to-earnings ratio of 12.69, a PEG ratio of 1.37 and a beta of 1.08. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The business has a fifty day moving average of $33.45 and a 200 day moving average of $31.67.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.72 EPS. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a dividend of $0.535 per share. The ex-dividend date was Friday, January 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.27%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 79.55%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of hedge funds have recently made changes to their positions in the stock. Rosenberg Matthew Hamilton lifted its stake 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 purchasing an additional 656 shares in the last quarter. Tidemark LLC lifted its stake in 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 in the last quarter. Lee Danner & Bass Inc. purchased a new position in Enterprise Products Partners during the 4th quarter valued at about $29,000. Crowley Wealth Management Inc. purchased a new position in Enterprise Products Partners in the fourth quarter valued at $30,000. Finally, National Bank of Canada FI increased its holdings in Enterprise Products Partners by 55.4% during the 4th 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. Hedge funds and other institutional investors own 26.07% of the company’s stock.

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.