Enterprise Products Partners (NYSE:EPD) Stock Falls 1.8% After Analyst Downgrade

Enterprise Products Partners L.P. (NYSE:EPD) shares fell 1.8% during trading on Friday after JPMorgan Chase & Co. lowered their price target on the stock from $43.00 to $42.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Enterprise Products Partners traded as low as $36.05 and last traded at $36.0970. Approximately 3,417,290 shares were traded during trading, a decline of 12% from the average daily volume of 3,862,229 shares. The stock had previously closed at $36.75.

A number of other research analysts have also commented on the company. Capital One Financial initiated coverage on Enterprise Products Partners in a report on Tuesday, September 22nd. They set an “equal weight” rating and a $42.00 price target on the stock. Weiss Ratings cut Enterprise Products Partners from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday, October 2nd. Wall Street Zen downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 3rd. Stifel Nicolaus started coverage on shares of Enterprise Products Partners in a research report on Thursday, September 10th. They issued a “hold” rating and a $40.00 target price for the company. Finally, Melius Research began coverage on Enterprise Products Partners in a research note on Tuesday, September 22nd. They issued a “hold” rating and a $42.00 price target for the company. Seven investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Enterprise Products Partners has an average rating of “Hold” and a consensus price target of $40.12.

Key Enterprise Products Partners News

Here are the key news stories impacting Enterprise Products Partners this week:

• Positive Sentiment: Enterprise Products Partners declared a quarterly distribution of $0.56 per unit, or $2.24 annualized, representing an approximately 6.1% yield. Unitholders of record October 30 will receive payment November 13. Enterprise Products Partners dividend announcement
• Positive Sentiment: The partnership provided a tranche update related to its previously announced equity buyback plan, signaling continued capital returns beyond the regular distribution. Enterprise Products Partners equity buyback update
• Positive Sentiment: Recent investor commentary highlights EPD as a potentially attractive income investment, citing dependable midstream cash flows and the sustainability of its dividend. Enterprise Products Partners dividend yield analysis
• Neutral Sentiment: Jim Cramer said he believes investors should own Enterprise Products Partners, but acknowledged that the units have lagged despite a low valuation and high yield. His comments provide support but are opinion-driven rather than a fundamental earnings catalyst. Jim Cramer on Enterprise Products Partners
• Negative Sentiment: Cramer attributed EPD’s weakness to the 30-year Treasury yield. Higher bond yields can pressure rate-sensitive, high-yield partnerships by increasing the relative appeal of fixed-income investments and raising financing costs. Enterprise Products Partners and the 30-year yield
• Negative Sentiment: JPMorgan lowered its price target from $43 to $42 and maintained a neutral rating. Although the revised target still implies upside, the cut limits near-term enthusiasm and reflects a more cautious view of valuation.

Hedge Funds Weigh In On Enterprise Products Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BOS Asset Management LLC lifted its position in Enterprise Products Partners by 5.3% in the third quarter. BOS Asset Management LLC now owns 6,715 shares of the oil and gas producer’s stock worth $239,000 after purchasing an additional 340 shares during the period. Allen Mooney & Barnes Investment Advisors LLC increased its holdings in Enterprise Products Partners by 0.6% in the 3rd quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 461,834 shares of the oil and gas producer’s stock valued at $16,446,000 after buying an additional 2,898 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Enterprise Products Partners by 0.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 75,188 shares of the oil and gas producer’s stock valued at $2,677,000 after buying an additional 272 shares in the last quarter. CoreCap Advisors LLC raised its stake in shares of Enterprise Products Partners by 15.2% in the 3rd quarter. CoreCap Advisors LLC now owns 192,743 shares of the oil and gas producer’s stock valued at $6,864,000 after buying an additional 25,379 shares in the last quarter. Finally, Atwood & Palmer Inc. lifted its holdings in shares of Enterprise Products Partners by 15.5% during the 3rd quarter. Atwood & Palmer Inc. now owns 10,319 shares of the oil and gas producer’s stock worth $367,000 after acquiring an additional 1,388 shares during the period. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Down 1.8%

The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 1.00. The business’s fifty day moving average price is $38.10 and its 200 day moving average price is $37.93. The company has a market capitalization of $77.95 billion, a P/E ratio of 12.53, a P/E/G ratio of 1.35 and a beta of 0.50.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share 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 firm had revenue of $18.27 billion for the quarter, compared to analysts’ expectations of $13.69 billion. During the same period in the prior year, the business posted $0.66 earnings per share. The business’s revenue was up 60.8% compared to the same quarter last year. As a group, equities research analysts predict that Enterprise Products Partners L.P. will post 3.02 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be given a dividend of $0.56 per share. The ex-dividend date is Friday, October 30th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 6.2%. Enterprise Products Partners’s dividend payout ratio (DPR) is 77.78%.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. is a publicly traded master limited partnership that owns and operates midstream energy infrastructure in the United States. The company transports, stores, processes and exports oil, natural gas, natural gas liquids (NGLs), refined products and petrochemicals.

Its operations include pipelines, natural gas processing plants, NGL fractionation facilities, underground storage, marine terminals and export infrastructure. Enterprise serves producers, refiners, petrochemical manufacturers, utilities and other energy customers by connecting major producing regions with domestic and international markets.

Enterprise Products Partners was founded in 1968 and is headquartered in Houston, Texas.