Enterprise Products Partners (NYSE:EPD) Stock Price Down 0.1% – Here’s Why

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price fell 0.1% during mid-day trading on Tuesday . The stock traded as low as $29.32 and last traded at $29.47. 720,555 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 4,304,583 shares. The stock had previously closed at $29.49.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EPD. StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Royal Bank of Canada raised their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday. Truist Financial raised their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Bank of America began coverage on Enterprise Products Partners in a research report on Thursday. They set a “buy” rating and a $35.00 price objective for the company. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $33.73.

Enterprise Products Partners Stock Down 0.2 %

The company has a 50 day moving average price of $29.21 and a two-hundred day moving average price of $28.97. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68. The stock has a market cap of $63.27 billion, a PE ratio of 11.43, a PEG ratio of 1.49 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The firm had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The firm’s revenue was up 26.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.57 EPS. Analysts expect that Enterprise Products Partners L.P. will post 2.71 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 7.21%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.35%.

Institutional Trading of Enterprise Products Partners

A number of hedge funds have recently bought and sold shares of EPD. Hantz Financial Services Inc. purchased a new stake in Enterprise Products Partners during the second quarter valued at $25,000. Stephens Consulting LLC purchased a new stake in Enterprise Products Partners during the first quarter valued at $29,000. Palisade Asset Management LLC bought a new stake in Enterprise Products Partners during the first quarter valued at about $29,000. Mascoma Wealth Management LLC bought a new stake in Enterprise Products Partners during the second quarter valued at about $29,000. Finally, DiNuzzo Private Wealth Inc. grew its holdings in Enterprise Products Partners by 1,000.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 1,000 shares during the period. Hedge funds and other institutional investors 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.