Enterprise Products Partners (NYSE:EPD) Stock Price Down 0.3% – Time to Sell?

Enterprise Products Partners L.P. (NYSE:EPD) dropped 0.3% during trading on Friday . The company traded as low as $32.68 and last traded at $32.79. Approximately 973,062 shares changed hands during trading, a decline of 80% from the average daily volume of 4,786,228 shares. The stock had previously closed at $32.87.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on EPD. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Truist Financial boosted their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Bank of America initiated coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.70.

Enterprise Products Partners Stock Up 0.3 %

The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The stock’s 50-day simple moving average is $32.52 and its 200 day simple moving average is $30.62. The firm has a market cap of $71.45 billion, a P/E ratio of 12.35, a PEG ratio of 1.54 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.05. The firm had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.72 EPS. As a group, research analysts forecast that Enterprise Products Partners L.P. will post 2.67 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a dividend of $0.535 per share. The ex-dividend date is Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 6.49%. Enterprise Products Partners’s payout ratio is presently 80.15%.

Hedge Funds Weigh In On Enterprise Products Partners

Institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC raised its holdings in Enterprise Products Partners by 9.3% in the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after purchasing an additional 1,225,988 shares in the last quarter. Pathway Financial Advisers LLC lifted its stake in shares of Enterprise Products Partners by 2,862.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock worth $225,777,000 after purchasing an additional 7,494,224 shares during the period. Hamlin Capital Management LLC lifted its position in Enterprise Products Partners by 0.5% during the third quarter. Hamlin Capital Management LLC now owns 4,923,948 shares of the oil and gas producer’s stock valued at $143,336,000 after purchasing an additional 24,335 shares in the last quarter. Brookfield Corp ON boosted its holdings in Enterprise Products Partners by 6.2% in the 3rd quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock worth $138,639,000 after buying an additional 278,892 shares during the period. Finally, Thrivent Financial for Lutherans grew its stake in Enterprise Products Partners by 5.2% during the third quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock valued at $118,561,000 after acquiring an additional 200,625 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. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.