Enterprise Products Partners (NYSE:EPD) Shares Down 0.7% – Here’s Why

Enterprise Products Partners L.P. (NYSE:EPD)’s share price traded down 0.7% during mid-day trading on Monday . The company traded as low as $31.93 and last traded at $31.96. 1,063,896 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 4,290,525 shares. The stock had previously closed at $32.19.

Wall Street Analysts Forecast Growth

Several research firms have commented on EPD. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Bank of America started coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price target on the stock. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Finally, Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $34.20.

Enterprise Products Partners Trading Down 2.7 %

The stock has a market cap of $66.00 billion, a PE ratio of 11.40, a PEG ratio of 1.67 and a beta of 1.08. 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 firm has a fifty day simple moving average of $30.87 and a two-hundred day simple moving average of $29.71.

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 for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same period in the prior year, the business earned $0.60 earnings per share. The company’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 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were given a $0.525 dividend. The ex-dividend date was Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 6.90%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 78.65%.

Hedge Funds Weigh In On Enterprise Products Partners

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.