Enterprise Products Partners (NYSE:EPD) Trading Down 2.2% – Should You Sell?

Enterprise Products Partners L.P. (NYSE:EPD) shares dropped 2.2% during mid-day trading on Wednesday . The stock traded as low as $36.09 and last traded at $36.3230. 2,635,302 shares were traded during trading, a decline of 40% from the average session volume of 4,410,989 shares. The stock had previously closed at $37.13.

Analyst Upgrades and Downgrades

Several brokerages recently commented on EPD. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $38.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Wolfe Research raised Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Morgan Stanley reiterated an “underweight” rating and issued a $43.00 price objective (up from $42.00) on shares of Enterprise Products Partners in a research note on Wednesday, May 20th. Weiss Ratings raised shares of Enterprise Products Partners from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, June 15th. Finally, TD Cowen restated a “hold” rating and set a $38.00 target price (up from $34.00) on shares of Enterprise Products Partners in a research report on Thursday, April 16th. Nine analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Hold” and an average price target of $39.94.

Enterprise Products Partners Price Performance

The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03. The firm has a market cap of $78.52 billion, a PE ratio of 13.45, a price-to-earnings-growth ratio of 1.30 and a beta of 0.49. The stock has a 50 day simple moving average of $37.84 and a 200-day simple moving average of $35.90.

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

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 6.1%. The ex-dividend date of this dividend was Thursday, April 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.48%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EPD. Auto Owners Insurance Co grew its holdings in Enterprise Products Partners by 3,106.0% during the 4th quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock valued at $102,784,000 after buying an additional 31,060,000 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new position in shares of Enterprise Products Partners in the third quarter worth $292,194,000. Goldman Sachs Group Inc. boosted its position in shares of Enterprise Products Partners by 12.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock worth $582,317,000 after acquiring an additional 1,940,583 shares during the last quarter. Corient Private Wealth LLC grew its stake in Enterprise Products Partners by 119.4% during the second quarter. Corient Private Wealth LLC now owns 2,414,035 shares of the oil and gas producer’s stock valued at $74,859,000 after acquiring an additional 1,313,976 shares in the last quarter. Finally, Barclays PLC increased its holdings in Enterprise Products Partners by 57.5% in the 4th quarter. Barclays PLC now owns 2,928,068 shares of the oil and gas producer’s stock valued at $93,874,000 after acquiring an additional 1,069,304 shares during the last quarter. 26.07% of the stock is currently 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.