Enterprise Products Partners (NYSE:EPD) Stock Price Down 0.6% – Should You Sell?

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 changed hands during trading, a decline of 89% from the average daily volume of 4,307,262 shares. The stock had previously closed at $32.40.

Wall Street Analysts Forecast Growth

EPD has been the topic of a number of analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Bank of America began 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 on the stock. Finally, US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $34.00.

Enterprise Products Partners Stock Performance

The company’s 50-day moving average price is $30.79 and its 200 day moving average price is $29.64. The stock has a market capitalization of $69.80 billion, a PE ratio of 12.06, a PEG ratio of 1.67 and a beta of 1.08. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data 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 return on equity of 20.31% and a net margin of 10.32%. The company had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same quarter last year, the business earned $0.60 earnings per share. The business’s quarterly revenue was up 14.8% on a year-over-year basis. On average, equities research 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 company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors 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 annualized dividend and a dividend yield of 6.52%. Enterprise Products Partners’s dividend payout ratio is presently 78.65%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of institutional investors have recently added to or reduced their stakes in EPD. Franklin Resources Inc. increased its stake in shares of Enterprise Products Partners by 16.2% in the 3rd quarter. Franklin Resources Inc. now owns 156,933 shares of the oil and gas producer’s stock worth $4,628,000 after acquiring an additional 21,834 shares in the last quarter. Peapack Gladstone Financial Corp grew its holdings in Enterprise Products Partners by 61.7% in 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 purchasing an additional 51,809 shares during the period. Synovus Financial Corp grew its holdings in Enterprise Products Partners by 20.0% in the third quarter. Synovus Financial Corp now owns 50,140 shares of the oil and gas producer’s stock worth $1,460,000 after purchasing an additional 8,361 shares during the period. Optimist Retirement Group LLC increased its stake in shares of Enterprise Products Partners by 3.3% during the third quarter. Optimist Retirement Group LLC now owns 67,080 shares of the oil and gas producer’s stock valued at $1,953,000 after purchasing an additional 2,152 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its holdings in shares of Enterprise Products Partners by 1,183.4% during the third quarter. Wilmington Savings Fund Society FSB now owns 91,725 shares of the oil and gas producer’s stock valued at $2,670,000 after purchasing an additional 84,578 shares during 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.