Enterprise Products Partners (NYSE:EPD) Trading Down 0.6% – Here’s What Happened

Shares of Enterprise Products Partners L.P. (NYSE:EPD) dropped 0.6% on Monday . The company traded as low as $32.52 and last traded at $32.60. Approximately 953,883 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 4,313,083 shares. The stock had previously closed at $32.80.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Finally, Bank of America assumed coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price for the company. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Enterprise Products Partners has an average rating of “Buy” and a consensus price target of $34.00.

Enterprise Products Partners Stock Down 0.9 %

The business has a 50-day moving average price of $30.50 and a 200-day moving average price of $29.52. The stock has a market cap of $70.42 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 1.69 and a beta of 1.08. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The company had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. During the same period in the prior year, the firm earned $0.60 EPS. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, analysts forecast that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.46%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is presently 78.65%.

Institutional Trading of Enterprise Products Partners

Several large investors have recently bought and sold shares of EPD. Franklin Resources Inc. boosted its holdings in shares of Enterprise Products Partners by 16.2% during the 3rd quarter. Franklin Resources Inc. now owns 156,933 shares of the oil and gas producer’s stock worth $4,628,000 after purchasing an additional 21,834 shares during the last quarter. Peapack Gladstone Financial Corp lifted its position in Enterprise Products Partners by 61.7% during the third quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock worth $3,954,000 after buying an additional 51,809 shares in the last quarter. Synovus Financial Corp boosted its stake in Enterprise Products Partners by 20.0% during the third quarter. Synovus Financial Corp now owns 50,140 shares of the oil and gas producer’s stock worth $1,460,000 after buying an additional 8,361 shares during the last quarter. Optimist Retirement Group LLC increased its stake in shares of Enterprise Products Partners by 3.3% in the 3rd quarter. Optimist Retirement Group LLC now owns 67,080 shares of the oil and gas producer’s stock worth $1,953,000 after acquiring an additional 2,152 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB raised its holdings in shares of Enterprise Products Partners by 1,183.4% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 91,725 shares of the oil and gas producer’s stock worth $2,670,000 after acquiring an additional 84,578 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

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.