Enterprise Products Partners (NYSE:EPD) Stock Price Down 1.8% – Time to Sell?

Enterprise Products Partners L.P. (NYSE:EPD) dropped 1.8% during trading on Friday . The company traded as low as $36.18 and last traded at $36.6620. Approximately 8,178,061 shares were traded during mid-day trading, an increase of 75% from the average daily volume of 4,683,136 shares. The stock had previously closed at $37.33.

Analyst Upgrades and Downgrades

EPD has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on shares of Enterprise Products Partners from $35.00 to $39.00 and gave the company a “neutral” rating in a research note on Tuesday, March 10th. Truist Financial initiated coverage on shares of Enterprise Products Partners in a research note on Tuesday, March 24th. They issued a “hold” rating and a $36.00 price objective on the stock. Raymond James Financial lowered shares of Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 price objective on the stock. in a research note on Monday, January 5th. TD Cowen restated a “hold” rating and issued a $38.00 price objective (up from $34.00) on shares of Enterprise Products Partners in a research note on Thursday. Finally, Jefferies Financial Group lifted their price objective on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the company a “hold” rating in a research note on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average price target of $38.27.

Enterprise Products Partners Trading Down 1.8%

The firm has a market cap of $79.25 billion, a PE ratio of 13.78, a P/E/G ratio of 1.43 and a beta of 0.55. The company’s fifty day moving average price is $37.12 and its two-hundred day moving average price is $33.77. The company has a quick ratio of 0.74, a current ratio of 1.04 and a debt-to-equity ratio of 1.07.

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

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Thursday, April 30th. This represents a $2.20 annualized dividend and a dividend yield of 6.0%. Enterprise Products Partners’s payout ratio is presently 82.71%.

Insider Buying and Selling at Enterprise Products Partners

In other news, CEO Aj Teague bought 2,665 shares of the stock in a transaction dated Friday, March 20th. The shares were acquired at an average price of $37.55 per share, with a total value of $100,070.75. Following the completion of the acquisition, the chief executive officer directly owned 77,576 shares in the company, valued at approximately $2,912,978.80. The trade was a 3.56% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 32.60% of the stock is currently owned by insiders.

Institutional Trading of Enterprise Products Partners

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

About Enterprise Products Partners

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.