Enterprise Products Partners (NYSE:EPD) Stock Price Down 0% – Here’s Why

Shares of Enterprise Products Partners L.P. (NYSE:EPD) fell 0% on Monday . The stock traded as low as $33.12 and last traded at $33.34. 1,130,054 shares traded hands during trading, a decline of 76% from the average session volume of 4,719,225 shares. The stock had previously closed at $33.34.

Analysts Set New Price Targets

A number of research firms recently issued reports on EPD. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a report on Wednesday, December 18th. Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Truist Financial increased their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Scotiabank initiated coverage on Enterprise Products Partners in a research report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price target for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.70.

Enterprise Products Partners Price Performance

The stock has a market cap of $73.01 billion, a PE ratio of 12.52, a P/E/G ratio of 1.37 and a beta of 1.09. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The company’s 50 day moving average is $32.63 and its 200-day moving average is $30.96.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the firm earned $0.72 EPS. Enterprise Products Partners’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a $0.535 dividend. The ex-dividend date was Friday, January 31st. This represents a $2.14 annualized dividend and a dividend yield of 6.35%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s payout ratio is presently 79.55%.

Institutional Trading of Enterprise Products Partners

Several hedge funds and other institutional investors have recently bought and sold shares of EPD. Invesco Ltd. grew its position in shares of Enterprise Products Partners by 1.3% in the 4th quarter. Invesco Ltd. now owns 27,076,718 shares of the oil and gas producer’s stock worth $849,126,000 after acquiring an additional 359,288 shares in the last quarter. FMR LLC boosted its holdings in Enterprise Products Partners by 2.1% in the fourth quarter. FMR LLC now owns 14,734,295 shares of the oil and gas producer’s stock worth $462,067,000 after purchasing an additional 304,997 shares during the period. Kayne Anderson Capital Advisors LP increased its stake in Enterprise Products Partners by 16.7% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock valued at $426,125,000 after purchasing an additional 1,947,017 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Enterprise Products Partners by 8.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer’s stock worth $330,739,000 after purchasing an additional 851,188 shares during the period. Finally, Pathway Financial Advisers LLC boosted its holdings 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 valued at $225,777,000 after buying an additional 7,494,224 shares during the period. 26.07% of the stock is 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.