Enterprise Products Partners (NYSE:EPD) Shares Down 0.6% – What’s Next?

Enterprise Products Partners L.P. (NYSE:EPD) shares were down 0.6% during mid-day trading on Thursday . The stock traded as low as $32.20 and last traded at $32.20. Approximately 493,847 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 4,307,262 shares. The stock had previously closed at $32.40.

Analysts Set New Price Targets

A number of brokerages have recently commented on EPD. 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. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Finally, Bank of America started coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price for the company. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $34.00.

Enterprise Products Partners Stock Down 0.6 %

The company has a market cap of $69.80 billion, a P/E ratio of 12.06, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08. 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 company has a 50 day moving average of $30.79 and a 200-day moving average of $29.64.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). The company had revenue of $13.78 billion for 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 for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.60 earnings per share. On average, equities analysts predict 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. Shareholders of record on Thursday, October 31st were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a yield of 6.52%. Enterprise Products Partners’s payout ratio is 78.65%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Hantz Financial Services Inc. bought a new stake in Enterprise Products Partners in the 2nd quarter worth approximately $25,000. Mascoma Wealth Management LLC bought a new stake in shares of Enterprise Products Partners in the 2nd quarter worth approximately $29,000. DiNuzzo Private Wealth Inc. boosted its stake in shares of 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 purchasing an additional 1,000 shares in the last quarter. Assetmark Inc. grew its holdings in shares of 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 valued at $35,000 after purchasing an additional 1,188 shares during the last quarter. Finally, Sanctuary Wealth Management L.L.C. purchased a new position in Enterprise Products Partners in the 3rd quarter worth $36,000. 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.