Enterprise Products Partners (NYSE:EPD) Shares Down 3.2% – Time to Sell?

Enterprise Products Partners L.P. (NYSE:EPD) fell 3.2% during trading on Tuesday . The company traded as low as $38.30 and last traded at $38.36. 4,239,710 shares traded hands during mid-day trading, a decline of 10% from the average session volume of 4,709,773 shares. The stock had previously closed at $39.63.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on EPD. Weiss Ratings cut Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday. Wall Street Zen cut Enterprise Products Partners from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. The Goldman Sachs Group restated a “neutral” rating and issued a $39.00 price target on shares of Enterprise Products Partners in a research report on Thursday, May 14th. Jefferies Financial Group raised their price target on Enterprise Products Partners from $34.00 to $40.00 and gave the stock a “hold” rating in a research report on Tuesday, March 31st. Finally, Morgan Stanley restated an “underweight” rating and issued a $43.00 price target (up from $42.00) on shares of Enterprise Products Partners in a research report on Wednesday, May 20th. Nine equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $39.67.

Enterprise Products Partners Stock Down 3.2%

The firm has a 50 day moving average of $38.11 and a two-hundred day moving average of $35.10. The firm has a market capitalization of $82.93 billion, a price-to-earnings ratio of 14.21, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.03). The business had revenue of $14.39 billion during the quarter, compared to analyst estimates of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The business’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same period last year, the business earned $0.64 earnings per share. As a group, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.95 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were paid a $0.55 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $2.20 annualized dividend and a yield of 5.7%. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.48%.

Insiders Place Their Bets

In other Enterprise Products Partners news, CEO Aj Teague acquired 2,665 shares of Enterprise Products Partners stock in a transaction that occurred on Friday, March 20th. The shares were acquired at an average cost of $37.55 per share, with a total value of $100,070.75. Following the completion of the purchase, the chief executive officer directly owned 77,576 shares of the company’s stock, valued at $2,912,978.80. This represents a 3.56% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 32.60% of the stock is owned by company insiders.

Institutional Trading of Enterprise Products Partners

Hedge funds have recently made changes to their positions in the company. PMV Capital Advisers LLC acquired a new stake in shares of Enterprise Products Partners during the fourth quarter valued at about $25,000. Palisade Asset Management LLC acquired a new stake in shares of Enterprise Products Partners during the third quarter valued at about $31,000. Texas Capital Bancshares Inc TX acquired a new stake in shares of Enterprise Products Partners during the third quarter valued at about $32,000. Abich Financial Wealth Management LLC acquired a new stake in shares of Enterprise Products Partners during the third quarter valued at about $32,000. Finally, Daytona Street Capital LLC acquired a new stake in shares of Enterprise Products Partners during the fourth quarter valued at about $42,000. 26.07% of the stock is owned by institutional investors and hedge funds.

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.