Enterprise Products Partners (NYSE:EPD) Trading Down 1.5% – Should You Sell?

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price dropped 1.5% on Monday . The stock traded as low as $38.07 and last traded at $38.1450. Approximately 4,138,164 shares were traded during mid-day trading, a decline of 0% from the average session volume of 4,154,980 shares. The stock had previously closed at $38.73.

Analyst Upgrades and Downgrades

EPD has been the topic of a number of recent analyst reports. UBS Group reaffirmed a “buy” rating and set a $45.00 price target on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Morgan Stanley set a $40.00 target price on Enterprise Products Partners and gave the company an “underweight” rating in a research note on Tuesday, July 21st. TD Cowen reissued a “hold” rating and issued a $38.00 price target (up from $34.00) on shares of Enterprise Products Partners in a research note on Thursday, April 16th. Citigroup restated a “buy” rating and set a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Finally, Truist Financial increased their target price on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a research report on Monday, May 4th. Eight equities research 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 data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $39.93.

Enterprise Products Partners Stock Performance

The company has a fifty day moving average price of $37.62 and a two-hundred day moving average price of $36.87. The firm has a market cap of $83.95 billion, a price-to-earnings ratio of 14.36, a price-to-earnings-growth ratio of 1.38 and a beta of 0.49. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61.

Enterprise Products Partners (NYSE:EPD) last released its earnings results 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). The firm had revenue of $14.39 billion for the quarter, compared to analyst estimates of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.Enterprise Products Partners’s revenue was down 6.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 earnings per share. As a group, equities research analysts expect that Enterprise Products Partners L.P. will post 2.93 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 5.8%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 81.48%.

Institutional Investors Weigh In On Enterprise Products Partners

Several large investors have recently modified their holdings of EPD. Palisade Asset Management LLC purchased a new position in Enterprise Products Partners during the 3rd quarter worth approximately $31,000. Bravera Wealth boosted its position in Enterprise Products Partners by 666.7% during the 2nd quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock worth $38,000 after acquiring an additional 900 shares during the period. Daytona Street Capital LLC purchased a new position in Enterprise Products Partners during the 4th quarter valued at about $42,000. Groesbeck Investment Management Corp NJ purchased a new position in Enterprise Products Partners during the 4th quarter valued at about $45,000. Finally, Kestra Investment Management LLC acquired a new position in shares of Enterprise Products Partners in the 2nd quarter valued at about $48,000. 26.07% of the stock is 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.