Enterprise Products Partners (NYSE:EPD) Stock Price Down 0.5%

Enterprise Products Partners L.P. (NYSE:EPD)’s share price was down 0.5% during mid-day trading on Monday . The stock traded as low as $28.34 and last traded at $28.41. Approximately 1,751,965 shares traded hands during trading, a decline of 64% from the average daily volume of 4,927,182 shares. The stock had previously closed at $28.55.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. Wells Fargo & Company upped their price objective on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Scotiabank raised their price objective on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a report on Thursday, April 4th. Mizuho reaffirmed a “buy” rating and issued a $34.00 target price on shares of Enterprise Products Partners in a research note on Thursday, April 4th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $35.00 price target on shares of Enterprise Products Partners in a research note on Friday, April 5th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $32.58.

Enterprise Products Partners Stock Down 0.1 %

The company’s 50-day simple moving average is $28.58 and its two-hundred day simple moving average is $27.33. The firm has a market cap of $61.82 billion, a PE ratio of 11.27 and a beta of 1.02. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.04. The company had revenue of $14.62 billion for the quarter, compared to analysts’ expectations of $12.43 billion. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. Enterprise Products Partners’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm earned $0.65 earnings per share. On average, analysts predict that Enterprise Products Partners L.P. will post 2.63 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be issued a dividend of $0.515 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.23%. Enterprise Products Partners’s dividend payout ratio is presently 81.75%.

Institutional Trading of Enterprise Products Partners

Large investors have recently added to or reduced their stakes in the stock. Cerity Partners LLC boosted its stake in shares of Enterprise Products Partners by 89.9% during the 4th quarter. Cerity Partners LLC now owns 289,549 shares of the oil and gas producer’s stock valued at $7,630,000 after purchasing an additional 137,044 shares in the last quarter. Kingsview Wealth Management LLC boosted its position in Enterprise Products Partners by 8.7% during the 3rd quarter. Kingsview Wealth Management LLC now owns 38,550 shares of the oil and gas producer’s stock valued at $1,055,000 after acquiring an additional 3,075 shares in the last quarter. Cullen Investment Group LTD. purchased a new position in shares of Enterprise Products Partners during the 4th quarter worth approximately $7,542,000. Sapient Capital LLC bought a new position in shares of Enterprise Products Partners in the 4th quarter worth approximately $3,271,000. Finally, Acadian Asset Management LLC purchased a new position in shares of Enterprise Products Partners in the 3rd quarter valued at approximately $3,793,000. Institutional investors own 26.07% of the company’s stock.

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.