Enterprise Products Partners (NYSE:EPD) Stock Price Down 0.2% – Time to Sell?

Enterprise Products Partners L.P. (NYSE:EPD) shares dropped 0.2% on Thursday . The company traded as low as $33.62 and last traded at $33.72. Approximately 670,946 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 3,791,785 shares. The stock had previously closed at $33.80.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a report on Wednesday, December 18th. Bank of America initiated coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price for the company. Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Truist Financial boosted their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Finally, Scotiabank initiated coverage on shares of Enterprise Products Partners in a report on Friday, January 10th. They set a “sector perform” rating and a $33.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $34.60.

Enterprise Products Partners Stock Performance

The stock has a 50 day moving average of $32.38 and a 200 day moving average of $30.39. The company has a market capitalization of $72.81 billion, a price-to-earnings ratio of 12.58, a price-to-earnings-growth ratio of 1.60 and a beta of 1.09. 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 issued its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The firm had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. During the same period last year, the company posted $0.60 EPS. The business’s revenue was up 14.8% compared to the same quarter last year. As a group, analysts predict that Enterprise Products Partners L.P. will post 2.67 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a $0.535 dividend. The ex-dividend date is Friday, January 31st. This represents a $2.14 annualized dividend and a yield of 6.37%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio is presently 78.65%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Rosenberg Matthew Hamilton grew its holdings in Enterprise Products Partners by 364.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 656 shares in the last quarter. DiNuzzo Private Wealth Inc. lifted its position in shares of Enterprise Products Partners by 1,000.0% during 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 purchasing an additional 1,000 shares in the last quarter. Assetmark Inc. boosted its holdings in Enterprise Products Partners by 19,800.0% during the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after purchasing an additional 1,188 shares during the last quarter. Sanctuary Wealth Management L.L.C. bought a new stake in Enterprise Products Partners in the 3rd quarter worth about $36,000. Finally, Bangor Savings Bank lifted its position in shares of Enterprise Products Partners by 558.3% during the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after buying an additional 1,072 shares in the last quarter. 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.