Enterprise Products Partners (NYSE:EPD) Stock Price Down 1.4% – Should You Sell?

Shares of Enterprise Products Partners L.P. (NYSE:EPD) were down 1.4% on Tuesday . The company traded as low as $37.53 and last traded at $37.7750. 3,889,169 shares changed hands during trading, a decline of 8% from the average session volume of 4,243,494 shares. The stock had previously closed at $38.31.

Wall Street Analysts Forecast Growth

EPD has been the subject of several research reports. Morgan Stanley reiterated an “underweight” rating and issued a $43.00 target price (up from $42.00) on shares of Enterprise Products Partners in a research report on Wednesday, May 20th. Royal Bank Of Canada upped their price objective on Enterprise Products Partners from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, March 30th. Wells Fargo & Company upgraded shares of Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $40.00 to $42.00 in a report on Wednesday, March 25th. Citigroup reiterated a “buy” rating and set a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $38.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Eight investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $40.13.

Enterprise Products Partners Price Performance

The stock has a market cap of $81.64 billion, a P/E ratio of 13.99, a price-to-earnings-growth ratio of 1.33 and a beta of 0.49. The business has a 50-day simple moving average of $37.63 and a 200 day simple moving average of $36.45. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The company had revenue of $14.39 billion for the quarter, compared to the consensus estimate of $13.62 billion. During the same quarter last 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. On average, analysts forecast that Enterprise Products Partners L.P. will post 3.01 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a $0.56 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. 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%. Enterprise Products Partners’s dividend payout ratio is presently 82.96%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of hedge funds have recently bought and sold shares of the company. Miller Howard Investments Inc. NY grew its stake in shares of Enterprise Products Partners by 1.0% in the 4th quarter. Miller Howard Investments Inc. NY now owns 3,112,119 shares of the oil and gas producer’s stock worth $99,775,000 after acquiring an additional 31,733 shares in the last quarter. Royal Palms Capital LLC bought a new position in shares of Enterprise Products Partners during the fourth quarter valued at about $1,830,000. Oxbow Advisors LLC boosted its holdings in Enterprise Products Partners by 3.0% during the fourth quarter. Oxbow Advisors LLC now owns 1,329,085 shares of the oil and gas producer’s stock worth $42,610,000 after purchasing an additional 39,052 shares during the last quarter. Texas Yale Capital Corp. grew its position in Enterprise Products Partners by 4.9% in the 4th quarter. Texas Yale Capital Corp. now owns 1,905,939 shares of the oil and gas producer’s stock worth $61,104,000 after purchasing an additional 88,475 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its position in Enterprise Products Partners by 7.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 4,510,036 shares of the oil and gas producer’s stock worth $144,592,000 after purchasing an additional 327,807 shares in the last quarter. 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.