Enterprise Products Partners (NYSE:EPD) Stock Price Down 6.1% – Time to Sell?

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price traded down 6.1% on Friday . The company traded as low as $30.85 and last traded at $31.45. 5,007,766 shares were traded during mid-day trading, an increase of 19% from the average session volume of 4,215,130 shares. The stock had previously closed at $33.47.

Analysts Set New Price Targets

EPD has been the subject of a number of analyst reports. Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Morgan Stanley upped their price objective on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 11th. Scotiabank lifted their target price 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. Barclays increased their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. Finally, Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $36.89.

Enterprise Products Partners Trading Down 7.9 %

The business has a 50-day moving average of $33.41 and a 200-day moving average of $31.86. 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 firm has a market cap of $66.76 billion, a price-to-earnings ratio of 11.46, a P/E/G ratio of 1.37 and a beta of 0.78.

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, topping analysts’ consensus estimates of $0.69 by $0.05. The company had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.72 EPS. Research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 6.94%. The ex-dividend date of this dividend was Friday, January 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio is 79.55%.

Hedge Funds Weigh In On Enterprise Products Partners

Institutional investors and hedge funds have recently modified their holdings of the stock. Marcum Wealth LLC boosted its holdings in shares of Enterprise Products Partners by 3.9% during the 1st quarter. Marcum Wealth LLC now owns 12,351 shares of the oil and gas producer’s stock worth $422,000 after buying an additional 462 shares during the period. Penbrook Management LLC raised its holdings in Enterprise Products Partners by 4.4% in the 1st quarter. Penbrook Management LLC now owns 11,990 shares of the oil and gas producer’s stock valued at $409,000 after acquiring an additional 500 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Enterprise Products Partners by 11.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,068,284 shares of the oil and gas producer’s stock worth $33,501,000 after acquiring an additional 106,895 shares during the last quarter. NorthCrest Asset Manangement LLC grew its position in shares of Enterprise Products Partners by 0.3% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 476,485 shares of the oil and gas producer’s stock valued at $14,943,000 after purchasing an additional 1,374 shares during the last quarter. Finally, Copia Wealth Management bought a new stake in Enterprise Products Partners in the 4th quarter valued at $35,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

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.