Enterprise Products Partners (NYSE:EPD) Shares Down 1.2% – What’s Next?

Enterprise Products Partners L.P. (NYSE:EPD) shares fell 1.2% during trading on Wednesday . The stock traded as low as $37.04 and last traded at $37.0720. 3,023,933 shares changed hands during trading, a decline of 36% from the average session volume of 4,704,090 shares. The stock had previously closed at $37.54.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on EPD shares. UBS Group reiterated a “buy” rating on shares of Enterprise Products Partners in a research report on Wednesday, March 4th. Wolfe Research lowered Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 price objective on the stock. in a research note on Wednesday, January 14th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $40.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, February 4th. Raymond James Financial downgraded Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 target price for the company. in a research report on Monday, January 5th. Finally, Citigroup reissued a “buy” rating and set a $39.00 target price (up from $36.00) on shares of Enterprise Products Partners in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Enterprise Products Partners presently has an average rating of “Hold” and a consensus price target of $37.14.

Enterprise Products Partners Trading Down 1.2%

The firm has a 50-day moving average of $35.00 and a two-hundred day moving average of $32.84. The firm has a market capitalization of $80.14 billion, a P/E ratio of 13.94, a P/E/G ratio of 1.50 and a beta of 0.58. The company has a current ratio of 1.04, a quick ratio of 0.74 and a debt-to-equity ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Monday, February 2nd. The oil and gas producer reported $0.75 EPS for the quarter, topping the consensus estimate of $0.69 by $0.06. Enterprise Products Partners had a return on equity of 19.33% and a net margin of 11.05%.The firm had revenue of $13.79 billion during the quarter, compared to the consensus estimate of $12.44 billion. During the same quarter in the previous year, the firm earned $0.74 earnings per share. The business’s quarterly revenue was down 2.9% on a year-over-year basis. On average, analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 5.9%. The ex-dividend date of this dividend was Friday, January 30th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s payout ratio is currently 82.71%.

Insiders Place Their Bets

In related news, Director John R. Rutherford bought 15,000 shares of the firm’s stock in a transaction on Monday, December 29th. The shares were purchased at an average price of $32.09 per share, with a total value of $481,350.00. Following the completion of the purchase, the director owned 173,586 shares in the company, valued at $5,570,374.74. This represents a 9.46% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 32.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Enterprise Products Partners

Several hedge funds have recently modified their holdings of the company. PMV Capital Advisers LLC acquired a new position in Enterprise Products Partners in the 4th quarter worth about $25,000. Winnow Wealth LLC bought a new stake in shares of Enterprise Products Partners during the second quarter worth about $28,000. Palisade Asset Management LLC bought a new stake in shares of Enterprise Products Partners during the third quarter worth about $31,000. Traub Capital Management LLC acquired a new position in shares of Enterprise Products Partners in the second quarter valued at approximately $31,000. Finally, Texas Capital Bancshares Inc TX bought a new position in Enterprise Products Partners in the 3rd quarter valued at approximately $32,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Company Profile

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.