Enterprise Products Partners (NYSE:EPD) Stock Price Down 0.3% – Here’s What Happened

Enterprise Products Partners L.P. (NYSE:EPD)’s share price was down 0.3% on Wednesday . The company traded as low as $33.19 and last traded at $33.21. Approximately 776,303 shares were traded during trading, a decline of 84% from the average daily volume of 4,787,600 shares. The stock had previously closed at $33.32.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Truist Financial raised their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a research note on Wednesday, December 18th. Scotiabank started coverage on shares of Enterprise Products Partners in a research report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 target price on the stock. Finally, Wolfe Research downgraded shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $34.70.

Enterprise Products Partners Trading Down 0.0 %

The stock has a market capitalization of $72.21 billion, a PE ratio of 12.38, a PEG 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 business’s 50-day moving average is $32.94 and its two-hundred day moving average is $31.19.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.05. The company had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.72 earnings per share. On average, 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 company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a $0.535 dividend. The ex-dividend date of this dividend was Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a dividend yield of 6.42%. Enterprise Products Partners’s dividend payout ratio is 79.55%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of institutional investors have recently added to or reduced their stakes in EPD. Kayne Anderson Capital Advisors LP lifted its stake in shares of Enterprise Products Partners by 16.7% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock worth $426,125,000 after acquiring an additional 1,947,017 shares in the last quarter. Barclays PLC raised its position in shares of Enterprise Products Partners by 110.0% in the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock valued at $73,699,000 after purchasing an additional 1,326,010 shares in the last quarter. FMR LLC boosted its stake in shares of Enterprise Products Partners by 9.3% during the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after buying an additional 1,225,988 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Enterprise Products Partners during the fourth quarter worth approximately $36,279,000. Finally, Merewether Investment Management LP bought a new stake in shares of Enterprise Products Partners in the third quarter worth $30,746,000. Institutional investors and hedge funds 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.