Enterprise Products Partners (NYSE:EPD) Shares Down 1.8% – Here’s What Happened

Enterprise Products Partners L.P. (NYSE:EPD) shares traded down 1.8% during mid-day trading on Thursday . The stock traded as low as $28.63 and last traded at $28.73. 1,328,983 shares traded hands during trading, a decline of 69% from the average session volume of 4,273,125 shares. The stock had previously closed at $29.26.

Analysts Set New Price Targets

Several equities analysts have commented on EPD shares. Bank of America began coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target for the company. 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 downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Royal Bank of Canada reissued an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday. Finally, Truist Financial upped their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Enterprise Products Partners currently has an average rating of “Buy” and an average target price of $34.00.

Enterprise Products Partners Trading Up 0.6 %

The business has a fifty day moving average of $29.22 and a two-hundred day moving average of $28.95. The firm has a market cap of $62.55 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 1.33 and a beta of 1.03. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results 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). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.39%. The business had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same quarter in the prior year, the company earned $0.60 earnings per share. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 7.29%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s payout ratio is 78.65%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. XML Financial LLC grew its stake in Enterprise Products Partners by 5.6% during the 3rd quarter. XML Financial LLC now owns 106,481 shares of the oil and gas producer’s stock valued at $3,100,000 after purchasing an additional 5,605 shares in the last quarter. Carmel Capital Partners LLC boosted its position in shares of Enterprise Products Partners by 12.4% during the 3rd quarter. Carmel Capital Partners LLC now owns 9,286 shares of the oil and gas producer’s stock valued at $270,000 after purchasing an additional 1,022 shares in the last quarter. Lindbrook Capital LLC lifted its stake in Enterprise Products Partners by 4.0% during the third quarter. Lindbrook Capital LLC now owns 78,828 shares of the oil and gas producer’s stock valued at $2,295,000 after purchasing an additional 3,062 shares during the last quarter. Assetmark Inc. boosted its holdings in Enterprise Products Partners by 19,800.0% during the third 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. Finally, Verdence Capital Advisors LLC grew its position in Enterprise Products Partners by 21.5% in the third quarter. Verdence Capital Advisors LLC now owns 10,784 shares of the oil and gas producer’s stock worth $314,000 after buying an additional 1,910 shares during the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

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.