Enterprise Products Partners (NYSE:EPD) Trading Down 0.3% – What’s Next?

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price was down 0.3% on Friday . The company traded as low as $29.04 and last traded at $29.05. Approximately 476,936 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 4,284,866 shares. The stock had previously closed at $29.13.

Analysts Set New Price Targets

A number of brokerages recently issued reports on EPD. StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Royal Bank of Canada upped their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday. Bank of America assumed coverage on Enterprise Products Partners in a report on Thursday. They set a “buy” rating and a $35.00 target price on the stock. Finally, Truist Financial increased their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $33.73.

Enterprise Products Partners Stock Down 0.5 %

The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $62.95 billion, a P/E ratio of 11.39, a PEG ratio of 1.49 and a beta of 1.03. The firm’s 50 day moving average price is $29.21 and its two-hundred day moving average price is $28.97.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The business had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $14.23 billion. During the same period last year, the business posted $0.57 EPS. The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.71 EPS for the current year.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be issued a dividend of $0.525 per share. The ex-dividend date is Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 7.24%. Enterprise Products Partners’s payout ratio is presently 82.35%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Strategic Wealth Partners Ltd. increased its holdings in Enterprise Products Partners by 3.8% during the third quarter. Strategic Wealth Partners Ltd. now owns 9,731 shares of the oil and gas producer’s stock worth $283,000 after buying an additional 353 shares during the last quarter. Cadence Bank lifted its stake in Enterprise Products Partners by 0.7% in the 1st quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock valued at $1,530,000 after purchasing an additional 365 shares during the last quarter. McAdam LLC grew its holdings in Enterprise Products Partners by 1.3% during the second quarter. McAdam LLC now owns 28,670 shares of the oil and gas producer’s stock worth $831,000 after purchasing an additional 372 shares during the period. Ellenbecker Investment Group increased its position in Enterprise Products Partners by 1.5% during the third quarter. Ellenbecker Investment Group now owns 25,247 shares of the oil and gas producer’s stock worth $735,000 after buying an additional 374 shares during the last quarter. Finally, Advisor OS LLC raised its stake in Enterprise Products Partners by 1.3% in the second quarter. Advisor OS LLC now owns 29,485 shares of the oil and gas producer’s stock valued at $854,000 after buying an additional 379 shares during the period. Institutional investors and hedge funds 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.