Enterprise Products Partners (NYSE:EPD) Stock Price Down 0.1% – Should You Sell?

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price was down 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 traded hands 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

Several equities research analysts have recently weighed in on the stock. 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. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Wells Fargo & Company lowered Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a research report on Wednesday, December 18th. Scotiabank assumed coverage on Enterprise Products Partners in a research report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price objective on the stock. Finally, Truist Financial boosted their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $34.70.

Enterprise Products Partners Trading Down 0.6 %

The stock has a market cap of $71.17 billion, a price-to-earnings ratio of 12.30, a P/E/G ratio of 1.54 and a beta of 1.09. 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’s fifty day moving average price is $32.54 and its 200-day moving average price is $30.61.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data 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. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the previous year, the firm posted $0.72 earnings per share. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, research analysts expect 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 issued a $0.535 dividend. The ex-dividend date is Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.52%. Enterprise Products Partners’s dividend payout ratio is currently 80.15%.

Institutional Trading of Enterprise Products Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in EPD. FMR LLC grew its position in Enterprise Products Partners by 9.3% during the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after purchasing an additional 1,225,988 shares during the period. Pathway Financial Advisers LLC grew its holdings in Enterprise Products Partners by 2,862.8% during the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock worth $225,777,000 after acquiring an additional 7,494,224 shares during the period. Hamlin Capital Management LLC raised its position in Enterprise Products Partners by 0.5% during the third quarter. Hamlin Capital Management LLC now owns 4,923,948 shares of the oil and gas producer’s stock valued at $143,336,000 after acquiring an additional 24,335 shares in the last quarter. Brookfield Corp ON lifted its holdings in Enterprise Products Partners by 6.2% in the third quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock valued at $138,639,000 after acquiring an additional 278,892 shares during the period. Finally, Thrivent Financial for Lutherans boosted its position in Enterprise Products Partners by 5.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock worth $118,561,000 after purchasing an additional 200,625 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.