Enterprise Products Partners (NYSE:EPD) Shares Down 1.8% – What’s Next?

Enterprise Products Partners L.P. (NYSE:EPD) traded down 1.8% during mid-day trading on Thursday . The company traded as low as $28.63 and last traded at $28.73. 1,328,983 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 4,273,125 shares. The stock had previously closed at $29.26.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on EPD shares. Truist Financial boosted their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Bank of America began coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target for the company. Finally, US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Enterprise Products Partners currently has an average rating of “Buy” and an average price target of $33.73.

Enterprise Products Partners Stock Down 2.0 %

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 firm’s fifty day moving average is $29.24 and its 200 day moving average is $28.95. The stock has a market cap of $62.24 billion, a P/E ratio of 10.97, a P/E/G ratio of 1.32 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The business had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same period in the prior year, the firm posted $0.60 EPS. Enterprise Products Partners’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.7 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a $0.525 dividend. The ex-dividend date is Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 7.32%. Enterprise Products Partners’s dividend payout ratio is 80.15%.

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. Hantz Financial Services Inc. bought a new position in Enterprise Products Partners in the second quarter worth $25,000. Palisade Asset Management LLC bought a new position in shares of Enterprise Products Partners during the 1st quarter worth about $29,000. Mascoma Wealth Management LLC acquired a new stake in shares of Enterprise Products Partners during the 2nd quarter valued at about $29,000. DiNuzzo Private Wealth Inc. increased its stake in Enterprise Products Partners by 1,000.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after acquiring an additional 1,000 shares during the period. Finally, MFA Wealth Advisors LLC acquired a new position in Enterprise Products Partners in the second quarter worth about $37,000. 26.07% of the stock is currently owned by institutional investors.

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.