Enterprise Products Partners (NYSE:EPD) Trading Down 0.7% – Here’s Why

Enterprise Products Partners L.P. (NYSE:EPD)’s share price traded down 0.7% on Friday . The company traded as low as $33.20 and last traded at $33.35. 781,246 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 4,691,732 shares. The stock had previously closed at $33.58.

Wall Street Analysts Forecast Growth

EPD has been the subject of several research analyst reports. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Royal Bank of Canada reissued an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Citigroup upped their price objective on Enterprise Products Partners from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Truist Financial raised their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Finally, 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 target for the company. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Enterprise Products Partners has a consensus rating of “Moderate Buy” and an average price target of $34.70.

Enterprise Products Partners Price 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 market cap of $71.87 billion, a P/E ratio of 12.31, a P/E/G ratio of 1.38 and a beta of 1.09. The business’s 50 day moving average is $32.60 and its two-hundred day moving average is $30.89.

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 (EPS) 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 the consensus estimate of $14.07 billion. During the same period in the previous year, the business earned $0.72 EPS. The firm’s revenue was down 2.9% compared to the same quarter last year. As a group, analysts anticipate 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 disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a dividend of $0.535 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. This represents a $2.14 annualized dividend and a dividend yield of 6.45%. Enterprise Products Partners’s dividend payout ratio (DPR) is 79.55%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vermillion Wealth Management Inc. bought a new position in shares of Enterprise Products Partners during the 4th quarter worth about $155,000. Baer Investment Advisory LLC acquired a new stake in Enterprise Products Partners in the fourth quarter valued at approximately $793,000. Sunbeam Capital Management LLC bought a new stake in shares of Enterprise Products Partners during the fourth quarter valued at approximately $252,000. Montchanin Asset Management LLC raised its position in shares of Enterprise Products Partners by 1.2% during the fourth quarter. Montchanin Asset Management LLC now owns 107,580 shares of the oil and gas producer’s stock worth $3,374,000 after purchasing an additional 1,300 shares during the period. Finally, WCG Wealth Advisors LLC raised its position in shares of Enterprise Products Partners by 3.5% during the fourth quarter. WCG Wealth Advisors LLC now owns 33,606 shares of the oil and gas producer’s stock worth $1,054,000 after purchasing an additional 1,139 shares during the period. 26.07% of the stock is owned by 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.