Enterprise Products Partners (NYSE:EPD) Shares Down 1.5% – Time to Sell?

Shares of Enterprise Products Partners L.P. (NYSE:EPD) were down 1.5% during trading on Thursday . The stock traded as low as $37.26 and last traded at $37.2920. Approximately 2,262,194 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 4,489,479 shares. The stock had previously closed at $37.87.

Wall Street Analysts Forecast Growth

Several analysts recently commented on EPD shares. Wolfe Research upgraded Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Truist Financial upped their target price on Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a report on Monday, May 4th. TD Cowen reiterated a “hold” rating and issued a $38.00 target price (up from $34.00) on shares of Enterprise Products Partners in a report on Thursday, April 16th. Barclays increased their price target on Enterprise Products Partners from $38.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. Finally, Royal Bank Of Canada increased their price target on Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, March 30th. Nine equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $39.67.

Enterprise Products Partners Price Performance

The stock has a market capitalization of $80.60 billion, a P/E ratio of 13.81, a PEG ratio of 1.33 and a beta of 0.49. The business has a fifty day simple moving average of $38.00 and a 200-day simple moving average of $35.67. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The business had revenue of $14.39 billion for the quarter, compared to the consensus estimate of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.Enterprise Products Partners’s quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.64 earnings per share. Sell-side analysts expect that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date was Thursday, April 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.48%.

Insider Activity

In other news, CEO Aj Teague bought 2,665 shares of the business’s stock in a transaction that occurred on Friday, March 20th. The shares were bought at an average cost of $37.55 per share, for a total transaction of $100,070.75. Following the acquisition, the chief executive officer directly owned 77,576 shares in the company, valued at approximately $2,912,978.80. This trade represents a 3.56% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 32.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in EPD. Parallel Advisors LLC grew its holdings in shares of Enterprise Products Partners by 0.7% during the first quarter. Parallel Advisors LLC now owns 47,882 shares of the oil and gas producer’s stock valued at $1,812,000 after buying an additional 352 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Enterprise Products Partners by 4.9% during the first quarter. NewEdge Advisors LLC now owns 396,788 shares of the oil and gas producer’s stock valued at $15,014,000 after buying an additional 18,663 shares during the last quarter. Blue Edge Capital LLC acquired a new position in shares of Enterprise Products Partners during the first quarter valued at about $314,000. Lavelle Capital LP acquired a new position in shares of Enterprise Products Partners during the first quarter valued at about $960,000. Finally, Allen Capital Group LLC grew its holdings in shares of Enterprise Products Partners by 1.5% during the first quarter. Allen Capital Group LLC now owns 25,092 shares of the oil and gas producer’s stock valued at $949,000 after buying an additional 372 shares during the last quarter. 26.07% of the stock is owned by institutional investors.

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.