Enterprise Products Partners (NYSE:EPD) Shares Down 0.2% – What’s Next?

Shares of Enterprise Products Partners L.P. (NYSE:EPD) traded down 0.2% during mid-day trading on Tuesday . The company traded as low as $33.41 and last traded at $33.62. 847,389 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 4,134,627 shares. The stock had previously closed at $33.68.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Scotiabank raised their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 6th. Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Truist Financial upped their target price 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. Morgan Stanley lifted their price target on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 11th. Finally, 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 on the stock. in a research note on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.90.

Enterprise Products Partners Price Performance

The company has a market capitalization of $72.82 billion, a PE ratio of 12.49, a PEG ratio of 1.37 and a beta of 1.08. 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 price is $33.43 and its 200-day moving average price is $31.61.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS 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 analyst estimates of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm’s revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.72 earnings per share. On average, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a yield of 6.36%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners’s payout ratio is 79.55%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of hedge funds have recently made changes to their positions in the business. Rosenberg Matthew Hamilton increased its holdings in Enterprise Products Partners by 364.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 656 shares in the last quarter. Tidemark LLC raised its holdings in shares of Enterprise Products Partners by 54.3% during the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 318 shares during the period. Lee Danner & Bass Inc. acquired a new position in Enterprise Products Partners during the 4th quarter worth approximately $29,000. Crowley Wealth Management Inc. acquired a new stake in Enterprise Products Partners in the fourth quarter valued at approximately $30,000. Finally, National Bank of Canada FI lifted its position in shares of Enterprise Products Partners by 55.4% during the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 360 shares in the last quarter. Hedge funds and other institutional investors 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.