Enterprise Products Partners (NYSE:EPD) Shares Down 0.7% – Here’s What Happened

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price dropped 0.7% on Friday . The company traded as low as $32.13 and last traded at $32.17. Approximately 498,594 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 4,296,687 shares. The stock had previously closed at $32.39.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on EPD shares. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Bank of America initiated coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective on the stock. Finally, US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $34.00.

Enterprise Products Partners Trading Down 0.6 %

The company’s 50 day simple moving average is $30.79 and its two-hundred day simple moving average is $29.66. The company has a market capitalization of $69.77 billion, a price-to-earnings ratio of 12.06, a P/E/G ratio of 1.67 and a beta of 1.08. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results 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 20.31% and a net margin of 10.32%. The business had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. During the same quarter last year, the firm earned $0.60 earnings per share. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, research analysts anticipate that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 6.52%. The ex-dividend date of this dividend was Thursday, October 31st. Enterprise Products Partners’s payout ratio is currently 78.65%.

Institutional Trading of Enterprise Products Partners

Several large investors have recently bought and sold shares of EPD. Tortoise Capital Advisors L.L.C. lifted its stake in shares of Enterprise Products Partners by 4.8% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock worth $470,091,000 after buying an additional 741,237 shares during the period. FMR LLC raised its stake 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 acquiring an additional 1,225,988 shares during the last quarter. Pathway Financial Advisers LLC lifted its position in Enterprise Products Partners by 2,862.8% during 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 acquiring an additional 7,494,224 shares during the period. Westwood Holdings Group Inc. grew its stake in Enterprise Products Partners by 9.0% during the 2nd quarter. Westwood Holdings Group Inc. now owns 5,404,012 shares of the oil and gas producer’s stock valued at $156,608,000 after purchasing an additional 447,768 shares during the last quarter. Finally, Hamlin Capital Management LLC increased its holdings in shares of Enterprise Products Partners by 0.5% in 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 during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

About Enterprise Products Partners

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.