Enterprise Products Partners (NYSE:EPD) Trading Down 0.3% – What’s Next?

Enterprise Products Partners L.P. (NYSE:EPD) traded down 0.3% during trading on Wednesday . The company traded as low as $33.12 and last traded at $33.06. 550,016 shares were traded during mid-day trading, a decline of 89% from the average session volume of 4,861,206 shares. The stock had previously closed at $33.17.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Truist Financial lifted their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Scotiabank lifted their target price on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Finally, Wells Fargo & Company downgraded 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, December 18th. 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $35.30.

Enterprise Products Partners Trading Up 1.2 %

The stock has a market cap of $72.25 billion, a PE ratio of 12.39, a P/E/G ratio of 1.37 and a beta of 1.08. The business’s fifty day moving average is $33.20 and its 200 day moving average is $31.35. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The company had revenue of $14.20 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the prior year, the firm earned $0.72 earnings per share. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 6.41%. The ex-dividend date of this dividend was Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio is 79.55%.

Institutional Trading of Enterprise Products Partners

Institutional investors and hedge funds have recently modified their holdings of the business. Verity & Verity LLC lifted its holdings in shares of Enterprise Products Partners by 30.8% in the fourth quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock valued at $3,470,000 after purchasing an additional 26,032 shares in the last quarter. Spinnaker Trust acquired a new position in shares of Enterprise Products Partners in the fourth quarter valued at approximately $280,000. FourThought Financial Partners LLC raised its position in shares of Enterprise Products Partners by 18.5% in the fourth quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer’s stock valued at $4,407,000 after buying an additional 21,970 shares during the last quarter. Paragon Advisors LLC acquired a new position in shares of Enterprise Products Partners in the third quarter valued at approximately $2,628,000. Finally, FMR LLC raised its position in shares of 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 buying an additional 1,225,988 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

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.