Enterprise Products Partners (NYSE:EPD) Shares Down 3.2% – What’s Next?

Shares of Enterprise Products Partners L.P. (NYSE:EPD) traded down 3.2% during trading on Tuesday . The company traded as low as $38.30 and last traded at $38.36. 4,239,710 shares changed hands during trading, a decline of 10% from the average session volume of 4,709,773 shares. The stock had previously closed at $39.63.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wolfe Research upgraded Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Barclays raised their price objective on Enterprise Products Partners from $38.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, March 5th. Weiss Ratings downgraded Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday. UBS Group restated a “buy” rating on shares of Enterprise Products Partners in a research report on Wednesday, March 4th. Finally, JPMorgan Chase & Co. raised their price objective on Enterprise Products Partners from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 12th. Nine analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $39.67.

Enterprise Products Partners Stock Down 3.2%

The company has a market capitalization of $82.93 billion, a P/E ratio of 14.21, a P/E/G ratio of 1.47 and a beta of 0.52. The stock has a 50-day moving average price of $38.11 and a 200-day moving average price of $35.10. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The business had revenue of $14.39 billion during the quarter, compared to the consensus estimate of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.64 earnings per share. On average, research analysts predict that Enterprise Products Partners L.P. will post 2.95 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date was Thursday, April 30th. Enterprise Products Partners’s payout ratio is presently 81.48%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Enterprise Products Partners

A number of hedge funds have recently added to or reduced their stakes in EPD. Auto Owners Insurance Co increased its holdings in shares of Enterprise Products Partners by 3,106.0% during the fourth quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock valued at $102,784,000 after acquiring an additional 31,060,000 shares in the last quarter. CIBC Bancorp USA Inc. bought a new stake in shares of Enterprise Products Partners during the third quarter valued at approximately $292,194,000. Goldman Sachs Group Inc. increased its holdings in shares of Enterprise Products Partners by 12.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock valued at $582,317,000 after acquiring an additional 1,940,583 shares in the last quarter. Corient Private Wealth LLC increased its holdings in shares of Enterprise Products Partners by 119.4% during the second quarter. Corient Private Wealth LLC now owns 2,414,035 shares of the oil and gas producer’s stock valued at $74,859,000 after acquiring an additional 1,313,976 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Enterprise Products Partners by 57.5% during the fourth quarter. Barclays PLC now owns 2,928,068 shares of the oil and gas producer’s stock valued at $93,874,000 after acquiring an additional 1,069,304 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors.

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.