Enterprise Products Partners (NYSE:EPD) Shares Down 1.6% – Here’s Why

Enterprise Products Partners L.P. (NYSE:EPD) dropped 1.6% during mid-day trading on Thursday . The stock traded as low as $36.49 and last traded at $36.6050. Approximately 3,702,725 shares traded hands during trading, a decline of 23% from the average daily volume of 4,839,299 shares. The stock had previously closed at $37.20.

Wall Street Analyst Weigh In

EPD has been the subject of a number of analyst reports. TD Cowen upped their price target on Enterprise Products Partners from $33.00 to $34.00 and gave the company a “hold” rating in a research report on Wednesday, February 4th. Stifel Nicolaus boosted their price objective on Enterprise Products Partners from $38.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. UBS Group restated a “buy” rating on shares of Enterprise Products Partners in a report on Wednesday, March 4th. Wolfe Research downgraded Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 target price for the company. in a research note on Wednesday, January 14th. Finally, Raymond James Financial cut shares of Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 price target on the stock. in a research report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Hold” and an average target price of $36.71.

Enterprise Products Partners Stock Performance

The company has a debt-to-equity ratio of 1.07, a current ratio of 1.04 and a quick ratio of 0.74. The company has a market cap of $80.00 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 1.47 and a beta of 0.59. The firm has a 50 day simple moving average of $34.78 and a 200-day simple moving average of $32.75.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Monday, February 2nd. The oil and gas producer reported $0.75 EPS for the quarter, beating the consensus estimate of $0.69 by $0.06. The business 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 19.33% and a net margin of 11.05%.The company’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.74 EPS. As a group, analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were given a dividend of $0.55 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date was Friday, January 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.71%.

Insider Activity

In related news, Director John R. Rutherford acquired 15,000 shares of the firm’s stock in a transaction dated Monday, December 29th. The shares were purchased at an average cost of $32.09 per share, for a total transaction of $481,350.00. Following the acquisition, the director owned 173,586 shares in the company, valued at $5,570,374.74. The trade was a 9.46% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 32.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Arete Wealth Advisors LLC raised its holdings in shares of Enterprise Products Partners by 1.5% in 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 buying an additional 317 shares during the period. ORG Wealth Partners LLC boosted its holdings in Enterprise Products Partners by 0.5% during the 4th quarter. ORG Wealth Partners LLC now owns 66,266 shares of the oil and gas producer’s stock valued at $2,125,000 after acquiring an additional 317 shares during the period. Walker Asset Management LLC increased its stake in 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 worth $631,000 after purchasing an additional 326 shares during the period. Mission Wealth Management LP increased its stake in Enterprise Products Partners by 1.0% during the fourth quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer’s stock worth $1,037,000 after purchasing an additional 328 shares during the period. Finally, Montag A & Associates Inc. lifted its position in shares of Enterprise Products Partners by 5.9% during the fourth quarter. Montag A & Associates Inc. now owns 5,880 shares of the oil and gas producer’s stock worth $189,000 after purchasing an additional 330 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

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.