Enterprise Products Partners (NYSE:EPD) Trading Down 1.3% – What’s Next?

Enterprise Products Partners L.P. (NYSE:EPD)’s share price was down 1.3% on Monday . The company traded as low as $33.07 and last traded at $33.15. Approximately 2,697,809 shares were traded during mid-day trading, a decline of 30% from the average daily volume of 3,844,347 shares. The stock had previously closed at $33.57.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Bank of America initiated coverage on Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective on the stock. Truist Financial upped their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Finally, US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Four investment 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, Enterprise Products Partners currently has an average rating of “Moderate Buy” and an average price target of $34.60.

Enterprise Products Partners Price Performance

The company has a 50 day moving average of $32.46 and a 200 day moving average of $30.46. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The firm has a market cap of $72.91 billion, a price-to-earnings ratio of 12.60, a P/E/G ratio of 1.60 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). The company had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company’s revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 earnings per share. Equities research analysts predict that Enterprise Products Partners L.P. will post 2.67 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a dividend of $0.535 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a dividend yield of 6.36%. The ex-dividend date of this dividend is Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is currently 78.65%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Rosenberg Matthew Hamilton raised its holdings in shares of Enterprise Products Partners by 364.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 656 shares during the last quarter. DiNuzzo Private Wealth Inc. increased its stake in Enterprise Products Partners by 1,000.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 1,000 shares during the last quarter. Assetmark Inc. lifted its position in Enterprise Products Partners by 19,800.0% during the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after buying an additional 1,188 shares in the last quarter. Sanctuary Wealth Management L.L.C. acquired a new position in shares of Enterprise Products Partners during the 3rd quarter worth about $36,000. Finally, Bangor Savings Bank grew its holdings in shares of Enterprise Products Partners by 558.3% in the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after acquiring an additional 1,072 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. 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.