Enterprise Products Partners (NYSE:EPD) Stock Price Down 1.2% – Here’s Why

Enterprise Products Partners L.P. (NYSE:EPD) shares were down 1.2% on Tuesday . The stock traded as low as $36.58 and last traded at $36.75. Approximately 5,684,707 shares were traded during trading, an increase of 8% from the average daily volume of 5,259,680 shares. The stock had previously closed at $37.21.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on EPD shares. Jefferies Financial Group reissued a “hold” rating and set a $34.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, February 4th. Stifel Nicolaus increased their price target on Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Barclays restated an “overweight” rating and issued a $38.00 price target (up previously from $35.00) on shares of Enterprise Products Partners in a report on Wednesday, February 4th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $40.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, February 4th. Finally, Wolfe Research downgraded shares of Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 price target on the stock. in a report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $36.00.

Enterprise Products Partners Stock Down 1.2%

The company has a current ratio of 0.88, a quick ratio of 0.60 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $79.50 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 2.64 and a beta of 0.60. The firm’s 50 day simple moving average is $33.02 and its 200-day simple moving average is $32.06.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. The firm had revenue of $13.79 billion for the quarter, compared to analyst estimates of $12.44 billion. Enterprise Products Partners had a return on equity of 19.43% and a net margin of 11.05%.The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period last year, the company earned $0.74 EPS. On average, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, January 30th. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.20 annualized dividend and a yield of 6.0%. Enterprise Products Partners’s payout ratio is 82.71%.

Enterprise Products Partners declared that its Board of Directors has authorized a share buyback plan on Thursday, October 30th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas producer to purchase up to 7.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Enterprise Products Partners

In related news, Director John R. Rutherford bought 15,000 shares of Enterprise Products Partners stock in a transaction dated Monday, December 29th. The shares were bought at an average cost of $32.09 per share, for a total transaction of $481,350.00. Following the completion of the transaction, the director owned 173,586 shares of the company’s stock, valued at approximately $5,570,374.74. This trade represents a 9.46% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 32.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Arete Wealth Advisors LLC boosted its holdings in shares of Enterprise Products Partners by 1.5% during the 3rd quarter. Arete Wealth Advisors LLC now owns 21,145 shares of the oil and gas producer’s stock valued at $661,000 after acquiring an additional 317 shares in the last quarter. ORG Wealth Partners LLC lifted its stake in shares of Enterprise Products Partners by 0.5% in the fourth quarter. ORG Wealth Partners LLC now owns 66,266 shares of the oil and gas producer’s stock valued at $2,125,000 after buying an additional 317 shares in the last quarter. Walker Asset Management LLC grew its holdings in shares of Enterprise Products Partners by 1.7% during the fourth quarter. Walker Asset Management LLC now owns 19,678 shares of the oil and gas producer’s stock valued at $631,000 after buying an additional 326 shares during the last quarter. Verus Capital Partners LLC raised its holdings in shares of Enterprise Products Partners by 1.0% in the 2nd quarter. Verus Capital Partners LLC now owns 32,311 shares of the oil and gas producer’s stock worth $1,002,000 after acquiring an additional 328 shares during the last quarter. Finally, Mission Wealth Management LP lifted its position in Enterprise Products Partners by 1.0% in the 4th quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer’s stock valued at $1,037,000 after acquiring an additional 328 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.