Enterprise Products Partners (NYSE:EPD) Stock Price Down 1.8% – Time to Sell?

Enterprise Products Partners L.P. (NYSE:EPD)’s share price dropped 1.8% on Wednesday . The company traded as low as $37.96 and last traded at $38.1050. Approximately 2,411,812 shares changed hands during trading, a decline of 38% from the average daily volume of 3,907,845 shares. The stock had previously closed at $38.81.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on EPD shares. TD Cowen reissued a “hold” rating and issued a $38.00 price objective (down from $39.00) on shares of Enterprise Products Partners in a research report on Monday, August 3rd. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $38.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. JPMorgan Chase & Co. lifted their target price on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Morgan Stanley reissued an “underweight” rating and issued a $41.00 price target (up from $40.00) on shares of Enterprise Products Partners in a research note on Tuesday, August 18th. Finally, Weiss Ratings upgraded Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Enterprise Products Partners has a consensus rating of “Hold” and a consensus target price of $39.87.

Enterprise Products Partners Stock Down 1.8%

The firm’s fifty day moving average price is $38.45 and its two-hundred day moving average price is $37.92. The stock has a market cap of $82.29 billion, a price-to-earnings ratio of 13.23, a price-to-earnings-growth ratio of 1.42 and a beta of 0.50. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.93 and a quick ratio of 0.66.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The business had revenue of $18.27 billion during the quarter, compared to analyst estimates of $13.69 billion. During the same period in the previous year, the company posted $0.66 EPS. The firm’s revenue was up 60.8% compared to the same quarter last year. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 3.03 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a dividend of $0.56 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a dividend yield of 5.9%. The ex-dividend date was Friday, July 31st. Enterprise Products Partners’s dividend payout ratio is presently 77.78%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of institutional investors have recently modified their holdings of the company. RFG Advisory LLC boosted its stake in shares of Enterprise Products Partners by 1.3% in the second quarter. RFG Advisory LLC now owns 21,636 shares of the oil and gas producer’s stock worth $795,000 after acquiring an additional 268 shares during the last quarter. Sigma Planning Corp raised its stake in Enterprise Products Partners by 0.8% in the 2nd quarter. Sigma Planning Corp now owns 35,270 shares of the oil and gas producer’s stock valued at $1,297,000 after purchasing an additional 270 shares during the last quarter. Everest Financial Group LLC boosted its stake in Enterprise Products Partners by 3.6% during the 1st quarter. Everest Financial Group LLC now owns 7,886 shares of the oil and gas producer’s stock worth $298,000 after purchasing an additional 271 shares during the last quarter. Renasant Bank grew its holdings in shares of Enterprise Products Partners by 1.3% during the second quarter. Renasant Bank now owns 21,160 shares of the oil and gas producer’s stock worth $778,000 after buying an additional 271 shares in the last quarter. Finally, Walker Asset Management LLC grew its holdings in shares of Enterprise Products Partners by 1.4% during the second quarter. Walker Asset Management LLC now owns 20,256 shares of the oil and gas producer’s stock worth $745,000 after buying an additional 282 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a publicly traded midstream energy partnership that provides transportation, storage, processing and export services for crude oil, natural gas, natural gas liquids (NGLs), petrochemicals and refined products. The company operates an integrated network of pipelines, processing plants, fractionation facilities, storage assets and marine terminals.

Enterprise’s NGL operations include natural gas processing, NGL fractionation and the production and distribution of ethane, propane, butanes and natural gasoline.