Enterprise Products Partners (NYSE:EPD) Shares Down 0.1% – Time to Sell?

Enterprise Products Partners L.P. (NYSE:EPD) shares dropped 0.1% during trading on Tuesday . The stock traded as low as $31.55 and last traded at $33.09. Approximately 2,339,504 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 4,697,066 shares. The stock had previously closed at $33.13.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Bank of America assumed coverage on Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective for the company. Scotiabank started coverage on Enterprise Products Partners in a research note on Friday, January 10th. They set a “sector perform” rating and a $33.00 target price for the company. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a report on Wednesday, December 18th. Truist Financial lifted their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.44.

Enterprise Products Partners Stock Performance

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 company has a market cap of $71.11 billion, a P/E ratio of 12.29, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09. The company has a 50 day moving average price of $32.55 and a 200-day moving average price of $30.57.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. The firm had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.72 earnings per share. On average, equities analysts expect that Enterprise Products Partners L.P. will post 2.67 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.52%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is presently 80.15%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in EPD. Bank of Montreal Can raised its stake in shares of Enterprise Products Partners by 2.3% in the second quarter. Bank of Montreal Can now owns 25,371 shares of the oil and gas producer’s stock worth $739,000 after purchasing an additional 570 shares during the last quarter. Park Avenue Securities LLC raised its position in Enterprise Products Partners by 4.2% in the 3rd quarter. Park Avenue Securities LLC now owns 36,633 shares of the oil and gas producer’s stock valued at $1,066,000 after buying an additional 1,474 shares during the last quarter. Walnut Private Equity Partners LLC lifted its stake in Enterprise Products Partners by 0.9% during the 3rd quarter. Walnut Private Equity Partners LLC now owns 700,000 shares of the oil and gas producer’s stock valued at $20,520,000 after acquiring an additional 6,000 shares in the last quarter. Chemistry Wealth Management LLC purchased a new position in Enterprise Products Partners during the 3rd quarter worth $302,000. Finally, SL Advisors LLC grew its stake in shares of Enterprise Products Partners by 3.1% in the 3rd quarter. SL Advisors LLC now owns 73,064 shares of the oil and gas producer’s stock worth $2,127,000 after acquiring an additional 2,226 shares in the last quarter. Institutional investors and hedge funds 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.