Enterprise Products Partners (NYSE:EPD) Trading Down 0.9% – Here’s What Happened

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price was down 0.9% on Tuesday . The stock traded as low as $33.41 and last traded at $33.52. Approximately 934,783 shares were traded during trading, a decline of 78% from the average daily volume of 4,302,340 shares. The stock had previously closed at $33.81.

Analysts Set New Price Targets

Several analysts have weighed in on the company. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Bank of America started coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target on the stock. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $34.00.

Enterprise Products Partners Price Performance

The firm has a market capitalization of $72.66 billion, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 1.78 and a beta of 1.08. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The business has a fifty day moving average of $30.11 and a 200-day moving average of $29.36.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The business had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.60 earnings per share. On average, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.26%. The ex-dividend date of this dividend was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 78.65%.

Institutional Investors Weigh In On Enterprise Products Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in EPD. Franklin Resources Inc. lifted its stake in Enterprise Products Partners by 16.2% during the third quarter. Franklin Resources Inc. now owns 156,933 shares of the oil and gas producer’s stock worth $4,628,000 after purchasing an additional 21,834 shares during the period. Peapack Gladstone Financial Corp raised its position in Enterprise Products Partners by 61.7% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock valued at $3,954,000 after purchasing an additional 51,809 shares during the last quarter. Synovus Financial Corp grew its holdings in Enterprise Products Partners by 20.0% during the 3rd quarter. Synovus Financial Corp now owns 50,140 shares of the oil and gas producer’s stock worth $1,460,000 after acquiring an additional 8,361 shares during the last quarter. Optimist Retirement Group LLC grew its stake in shares of Enterprise Products Partners by 3.3% during the third quarter. Optimist Retirement Group LLC now owns 67,080 shares of the oil and gas producer’s stock valued at $1,953,000 after purchasing an additional 2,152 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB increased its holdings in shares of Enterprise Products Partners by 1,183.4% in the third quarter. Wilmington Savings Fund Society FSB now owns 91,725 shares of the oil and gas producer’s stock valued at $2,670,000 after purchasing an additional 84,578 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

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.