Enterprise Products Partners (NYSE:EPD) Trading Down 1.3% – Here’s Why

Enterprise Products Partners L.P. (NYSE:EPD) was down 1.3% during trading on Thursday . The company traded as low as $37.37 and last traded at $37.5260. Approximately 3,503,443 shares changed hands during trading, a decline of 24% from the average daily volume of 4,606,019 shares. The stock had previously closed at $38.03.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on EPD shares. Stifel Nicolaus raised their price objective on shares of Enterprise Products Partners from $38.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Thursday, January 22nd. Royal Bank Of Canada raised their price objective on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, March 30th. Citigroup reaffirmed a “buy” rating and set a $39.00 price objective (up from $36.00) on shares of Enterprise Products Partners in a research note on Wednesday, February 4th. Finally, Truist Financial assumed coverage on shares of Enterprise Products Partners in a research note on Tuesday, March 24th. They set a “hold” rating and a $36.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.73.

Enterprise Products Partners Stock Down 1.3%

The business’s 50 day moving average is $36.75 and its 200-day moving average is $33.54. The stock has a market cap of $81.12 billion, a price-to-earnings ratio of 14.11, a PEG ratio of 1.50 and a beta of 0.55. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.74 and a current ratio of 1.04.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Monday, February 2nd. The oil and gas producer reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.06. The firm had revenue of $13.79 billion for the quarter, compared to analysts’ expectations of $12.44 billion. Enterprise Products Partners had a net margin of 11.05% and a return on equity of 19.33%. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.74 EPS. On average, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th will be issued a $0.55 dividend. The ex-dividend date is Thursday, April 30th. This represents a $2.20 dividend on an annualized basis and a yield of 5.9%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.71%.

Insiders Place Their Bets

In other news, CEO Aj Teague acquired 2,665 shares of the firm’s stock in a transaction on Friday, March 20th. The shares were bought at an average price of $37.55 per share, for a total transaction of $100,070.75. Following the acquisition, the chief executive officer owned 77,576 shares of the company’s stock, valued at approximately $2,912,978.80. This trade represents a 3.56% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 32.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EPD. PMV Capital Advisers LLC purchased a new position in Enterprise Products Partners in the 4th quarter valued at $25,000. Palisade Asset Management LLC purchased a new position in Enterprise Products Partners in the 3rd quarter valued at $31,000. Abich Financial Wealth Management LLC purchased a new position in Enterprise Products Partners in the 3rd quarter valued at $32,000. Texas Capital Bancshares Inc TX purchased a new position in Enterprise Products Partners in the 3rd quarter valued at $32,000. Finally, Financial Consulate Inc. purchased a new position in Enterprise Products Partners in the 3rd quarter valued at $33,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.