Enterprise Products Partners (NYSE:EPD) Stock Price Down 0.7% – Should You Sell?

Enterprise Products Partners L.P. (NYSE:EPD) fell 0.7% 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 Analyst Weigh In

Several research firms recently issued reports on EPD. Bank of America initiated coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a 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 report 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 price target for the company. in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.20.

Enterprise Products Partners Stock Down 2.7 %

The company’s fifty day simple moving average is $30.87 and its 200 day simple moving average is $29.71. 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 market capitalization of $66.00 billion, a P/E ratio of 11.40, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly 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). 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 for the quarter, compared to analysts’ expectations of $13.87 billion. During the same quarter in the prior year, the firm earned $0.60 EPS. Enterprise Products Partners’s quarterly revenue was up 14.8% compared to the same quarter last year. Research analysts expect that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Announces Dividend

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 6.90%. Enterprise Products Partners’s dividend payout ratio is presently 78.65%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Pathway Financial Advisers LLC grew its holdings in Enterprise Products Partners by 2,862.8% in 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 purchasing an additional 7,494,224 shares during the period. Barclays PLC grew its stake in shares of Enterprise Products Partners by 110.0% in the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock worth $73,699,000 after buying an additional 1,326,010 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Enterprise Products Partners by 2,854.1% in the 3rd quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock worth $37,474,000 after buying an additional 1,243,741 shares during the last quarter. FMR LLC increased 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 valued at $420,037,000 after buying an additional 1,225,988 shares in the last quarter. Finally, Merewether Investment Management LP purchased a new position in Enterprise Products Partners during the third quarter valued at $30,746,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Company Profile

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.