Enterprise Products Partners (NYSE:EPD) Trading Down 0.7% – Here’s What Happened

Enterprise Products Partners L.P. (NYSE:EPD) shares fell 0.7% on Monday . The stock traded as low as $30.71 and last traded at $30.77. 571,446 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 4,303,844 shares. The stock had previously closed at $30.99.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EPD. Bank of America assumed coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price for the company. Wells Fargo & Company lowered 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 research note on Wednesday, December 18th. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $34.20.

Enterprise Products Partners Trading Up 1.5 %

The business has a 50-day moving average of $31.03 and a two-hundred day moving average of $29.80. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $68.26 billion, a price-to-earnings ratio of 11.79, a P/E/G ratio of 1.67 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS 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 firm had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same quarter in the previous year, the company posted $0.60 earnings per share. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. Research analysts predict that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were given a dividend of $0.525 per share. The ex-dividend date was Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 6.67%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 78.65%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EPD. Paragon Advisors LLC acquired a new position in shares of Enterprise Products Partners in the 3rd quarter worth approximately $2,628,000. FMR LLC grew its position in Enterprise Products Partners by 9.3% in the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after acquiring an additional 1,225,988 shares during the period. Peapack Gladstone Financial Corp raised its stake in Enterprise Products Partners by 61.7% during the third quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock worth $3,954,000 after acquiring an additional 51,809 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Enterprise Products Partners by 5.2% during the third quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock valued at $118,561,000 after acquiring an additional 200,625 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of Enterprise Products Partners by 37.7% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 58,510 shares of the oil and gas producer’s stock valued at $1,703,000 after purchasing an additional 16,018 shares in the last quarter. Institutional investors 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.