Enterprise Products Partners (NYSE:EPD) Stock Price Down 1.1% – What’s Next?

Enterprise Products Partners L.P. (NYSE:EPD) was down 1.1% on Wednesday . The company traded as low as $37.42 and last traded at $37.6990. 3,042,815 shares changed hands during trading, a decline of 27% from the average daily volume of 4,157,689 shares. The stock had previously closed at $38.12.

Analyst Ratings Changes

A number of analysts have weighed in on EPD shares. Morgan Stanley set a $40.00 price target on Enterprise Products Partners and gave the stock an “underweight” rating in a report on Tuesday, July 21st. JPMorgan Chase & Co. upped their target price on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Stifel Nicolaus raised their target price on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Citigroup reiterated a “buy” rating and issued a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. Finally, UBS Group restated a “buy” rating and set a $45.00 price target on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Enterprise Products Partners presently has an average rating of “Hold” and a consensus target price of $39.93.

Enterprise Products Partners Stock Performance

The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. The company has a 50 day moving average price of $37.52 and a 200 day moving average price of $37.15. The company has a market capitalization of $81.70 billion, a price-to-earnings ratio of 13.12, a P/E/G ratio of 1.35 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. Enterprise Products Partners had a return on equity of 20.80% and a net margin of 10.79%.The business had revenue of $18.27 billion for the quarter, compared to the consensus estimate of $13.69 billion. During the same period in the prior year, the business earned $0.66 EPS. The firm’s revenue for the quarter was up 60.8% on a year-over-year basis. Equities research analysts predict that Enterprise Products Partners L.P. will post 2.96 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a $0.56 dividend. The ex-dividend date is Friday, July 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.9%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio (DPR) is 77.78%.

Institutional Trading of Enterprise Products Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Palisade Asset Management LLC acquired a new position in shares of Enterprise Products Partners during the third quarter valued at about $31,000. N.E.W. Advisory Services LLC bought a new position in Enterprise Products Partners in the 2nd quarter valued at about $37,000. Bravera Wealth lifted its position in Enterprise Products Partners by 666.7% in the 2nd quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock valued at $38,000 after acquiring an additional 900 shares in the last quarter. Kestra Investment Management LLC acquired a new position in Enterprise Products Partners during the 2nd quarter valued at about $48,000. Finally, State of Wyoming acquired a new position in Enterprise Products Partners during the 2nd quarter valued at about $54,000. Institutional investors 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.