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

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price dropped 0% during trading on Wednesday . The company traded as low as $34.06 and last traded at $34.21. Approximately 451,662 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 4,204,550 shares. The stock had previously closed at $34.22.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on EPD. Barclays boosted their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. Truist Financial increased their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $37.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. 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 on the stock. in a research note on Wednesday, December 18th. Finally, Scotiabank lifted their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 6th. Four 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.60.

Enterprise Products Partners Trading Down 1.7 %

The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The firm has a market capitalization of $72.46 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 1.37 and a beta of 0.78. The stock’s 50-day moving average price is $33.47 and its 200 day moving average price is $31.84.

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, beating analysts’ consensus estimates of $0.69 by $0.05. The business 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%. Enterprise Products Partners’s revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 EPS. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced 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 is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.40%. Enterprise Products Partners’s dividend payout ratio (DPR) is 79.55%.

Institutional Investors Weigh In On Enterprise Products Partners

Several hedge funds have recently modified their holdings of the business. Kayne Anderson Capital Advisors LP raised its stake in 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 buying an additional 1,947,017 shares in the last quarter. Barclays PLC lifted its stake in shares of Enterprise Products Partners by 110.0% during the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock worth $73,699,000 after purchasing an additional 1,326,010 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Enterprise Products Partners during the 4th quarter worth $36,279,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in 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 valued at $330,739,000 after purchasing an additional 851,188 shares in the last quarter. Finally, KDK Private Wealth Management LLC bought a new position in Enterprise Products Partners in the fourth quarter worth about $22,333,000. 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.