Enterprise Products Partners (NYSE:EPD) Shares Down 0.4% – Here’s Why

Enterprise Products Partners L.P. (NYSE:EPD)’s share price fell 0.4% on Friday . The stock traded as low as $33.79 and last traded at $33.97. 476,503 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 4,120,956 shares. The stock had previously closed at $34.10.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EPD. 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 note on Wednesday, December 18th. Barclays increased their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Finally, Truist Financial upped their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Four equities research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.90.

Enterprise Products Partners Stock Performance

The company has a market capitalization of $73.01 billion, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 1.37 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 stock’s fifty day simple moving average is $33.38 and its 200-day simple moving average is $31.51.

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

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.35%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 79.55%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Enterprise Products Partners by 11.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,068,284 shares of the oil and gas producer’s stock valued at $33,501,000 after purchasing an additional 106,895 shares in the last quarter. NorthCrest Asset Manangement LLC raised its holdings in shares of Enterprise Products Partners by 0.3% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 476,485 shares of the oil and gas producer’s stock valued at $14,943,000 after purchasing an additional 1,374 shares in the last quarter. Copia Wealth Management acquired a new stake in shares of Enterprise Products Partners in the 4th quarter valued at $35,000. Menard Financial Group LLC acquired a new stake in shares of Enterprise Products Partners in the 4th quarter valued at $42,000. Finally, Leigh Baldwin & CO. LLC acquired a new stake in shares of Enterprise Products Partners in the 4th quarter valued at $291,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

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.