Enterprise Products Partners (NYSE:EPD) Shares Down 1.6% – Time to Sell?

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price fell 1.6% during mid-day trading on Monday . The stock traded as low as $31.61 and last traded at $31.7340. 3,485,855 shares were traded during mid-day trading, a decline of 23% from the average session volume of 4,545,821 shares. The stock had previously closed at $32.26.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on EPD shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday, October 8th. Stifel Nicolaus upped their target price on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Scotiabank dropped their target price on shares of Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating for the company in a report on Tuesday, November 4th. Finally, Morgan Stanley reduced their price target on shares of Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.00.

Enterprise Products Partners Price Performance

The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96. The stock has a market capitalization of $68.72 billion, a PE ratio of 11.81, a P/E/G ratio of 2.22 and a beta of 0.67. The company’s fifty day simple moving average is $31.29 and its two-hundred day simple moving average is $31.39.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Wednesday, October 29th. The oil and gas producer reported $0.61 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.07). Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The business had revenue of $12.02 billion during the quarter, compared to analyst estimates of $11.83 billion. During the same quarter in the prior year, the company earned $0.65 earnings per share. The firm’s revenue for the quarter was down 12.7% compared to the same quarter last year. As a group, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were given a dividend of $0.545 per share. The ex-dividend date of this dividend was Friday, October 31st. This represents a $2.18 annualized dividend and a yield of 6.9%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.26%.

Enterprise Products Partners declared that its board has authorized a share buyback program on Thursday, October 30th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas producer to repurchase up to 7.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in EPD. Invesco Ltd. raised its position in shares of Enterprise Products Partners by 0.3% in the second quarter. Invesco Ltd. now owns 26,787,203 shares of the oil and gas producer’s stock valued at $830,671,000 after buying an additional 69,505 shares during the last quarter. American Century Companies Inc. raised its holdings in Enterprise Products Partners by 1.4% in the 2nd quarter. American Century Companies Inc. now owns 18,652,232 shares of the oil and gas producer’s stock valued at $578,406,000 after acquiring an additional 252,513 shares during the last quarter. Energy Income Partners LLC lifted its stake in shares of Enterprise Products Partners by 0.6% during the 3rd quarter. Energy Income Partners LLC now owns 14,705,122 shares of the oil and gas producer’s stock worth $459,829,000 after purchasing an additional 80,884 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Enterprise Products Partners by 1.9% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,570,499 shares of the oil and gas producer’s stock worth $361,810,000 after purchasing an additional 214,995 shares during the period. Finally, Berkley W R Corp boosted its holdings in shares of Enterprise Products Partners by 17.9% during the third quarter. Berkley W R Corp now owns 6,000,000 shares of the oil and gas producer’s stock worth $187,620,000 after purchasing an additional 910,206 shares during 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.