Enterprise Products Partners (NYSE:EPD) Shares Down 0.1% – Time to Sell?

Shares of Enterprise Products Partners L.P. (NYSE:EPD) were down 0.1% during mid-day trading on Tuesday . The stock traded as low as $31.55 and last traded at $33.09. Approximately 2,339,504 shares traded hands during trading, a decline of 50% from the average daily volume of 4,697,066 shares. The stock had previously closed at $33.13.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EPD. Scotiabank began coverage on Enterprise Products Partners in a research report on Friday, January 10th. They set a “sector perform” rating and a $33.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Truist Financial increased their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Finally, US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and an average price target of $34.70.

Enterprise Products Partners Price Performance

The firm has a market capitalization of $71.17 billion, a price-to-earnings ratio of 12.30, a PEG ratio of 1.54 and a beta of 1.09. The stock’s 50-day moving average price is $32.54 and its 200 day moving average price is $30.61. 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 released its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The business 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 10.32% and a return on equity of 20.31%. The business’s revenue was down 2.9% on a year-over-year basis. During the same period last year, the company posted $0.72 EPS. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.67 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a $0.535 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 6.52%. The ex-dividend date is Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is presently 80.15%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EPD. Park Avenue Securities LLC raised its stake in Enterprise Products Partners by 4.2% during the third quarter. Park Avenue Securities LLC now owns 36,633 shares of the oil and gas producer’s stock worth $1,066,000 after purchasing an additional 1,474 shares during the period. SL Advisors LLC raised its position in shares of Enterprise Products Partners by 3.1% during the 3rd quarter. SL Advisors LLC now owns 73,064 shares of the oil and gas producer’s stock valued at $2,127,000 after buying an additional 2,226 shares during the period. Strategic Wealth Partners Ltd. lifted its holdings in Enterprise Products Partners by 3.8% in the third quarter. Strategic Wealth Partners Ltd. now owns 9,731 shares of the oil and gas producer’s stock valued at $283,000 after acquiring an additional 353 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new position in Enterprise Products Partners in the third quarter worth approximately $178,000. Finally, Howard Financial Services LTD. increased its stake in Enterprise Products Partners by 1.7% during the third quarter. Howard Financial Services LTD. now owns 90,724 shares of the oil and gas producer’s stock worth $2,641,000 after acquiring an additional 1,552 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.