Enterprise Products Partners (NYSE:EPD) Stock Price Down 1.8% Following Analyst Downgrade

Shares of Enterprise Products Partners L.P. (NYSE:EPD) were down 1.8% on Friday after JPMorgan Chase & Co. lowered their price target on the stock from $43.00 to $42.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Enterprise Products Partners traded as low as $36.05 and last traded at $36.0970. 3,417,290 shares traded hands during trading, a decline of 12% from the average session volume of 3,862,229 shares. The stock had previously closed at $36.75.

EPD has been the topic of several other research reports. Capital One Financial assumed coverage on Enterprise Products Partners in a report on Tuesday, September 22nd. They set an “equal weight” rating and a $42.00 target price on the stock. Morgan Stanley reiterated an “underweight” rating and set a $41.00 price target (up from $40.00) on shares of Enterprise Products Partners in a research report on Tuesday, August 18th. UBS Group reissued a “buy” rating and set a $45.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Wall Street Zen downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 3rd. Finally, TD Cowen reiterated a “hold” rating and set a $38.00 target price (down from $39.00) on shares of Enterprise Products Partners in a research report on Monday, August 3rd. Seven investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $40.12.

More Enterprise Products Partners News

Here are the key news stories impacting Enterprise Products Partners this week:

• Positive Sentiment: Enterprise Products Partners declared a quarterly distribution of $0.56 per unit, or $2.24 annualized, representing an approximately 6.1% yield. Unitholders of record October 30 will receive payment November 13. Enterprise Products Partners dividend announcement
• Positive Sentiment: The partnership provided a tranche update related to its previously announced equity buyback plan, signaling continued capital returns beyond the regular distribution. Enterprise Products Partners equity buyback update
• Positive Sentiment: Recent investor commentary highlights EPD as a potentially attractive income investment, citing dependable midstream cash flows and the sustainability of its dividend. Enterprise Products Partners dividend yield analysis
• Neutral Sentiment: Jim Cramer said he believes investors should own Enterprise Products Partners, but acknowledged that the units have lagged despite a low valuation and high yield. His comments provide support but are opinion-driven rather than a fundamental earnings catalyst. Jim Cramer on Enterprise Products Partners
• Negative Sentiment: Cramer attributed EPD’s weakness to the 30-year Treasury yield. Higher bond yields can pressure rate-sensitive, high-yield partnerships by increasing the relative appeal of fixed-income investments and raising financing costs. Enterprise Products Partners and the 30-year yield
• Negative Sentiment: JPMorgan lowered its price target from $43 to $42 and maintained a neutral rating. Although the revised target still implies upside, the cut limits near-term enthusiasm and reflects a more cautious view of valuation.

Institutional Trading of Enterprise Products Partners

Institutional investors and hedge funds have recently made changes to their positions in the business. Auto Owners Insurance Co grew its holdings in 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 purchasing an additional 31,060,000 shares during the period. Energy Income Partners LLC acquired a new stake in Enterprise Products Partners in the second quarter worth $508,461,000. Bank of America Corp DE acquired a new stake in Enterprise Products Partners in the second quarter worth $416,553,000. BlackRock Inc. bought a new position in shares of Enterprise Products Partners during the second quarter worth $255,325,000. Finally, Berkley W R Corp bought a new position in shares of Enterprise Products Partners during the second quarter worth $250,887,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 1.8%

The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 1.00. The firm’s fifty day moving average price is $38.10 and its 200-day moving average price is $37.93. The company has a market cap of $77.95 billion, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 1.35 and a beta of 0.50.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, topping the consensus estimate of $0.75 by $0.09. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The firm had revenue of $18.27 billion for the quarter, compared to the consensus estimate of $13.69 billion. During the same period last year, the company posted $0.66 EPS. The business’s quarterly revenue was up 60.8% on a year-over-year basis. Sell-side analysts predict that Enterprise Products Partners L.P. will post 3.02 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be paid a $0.56 dividend. The ex-dividend date is Friday, October 30th. This represents a $2.24 annualized dividend and a yield of 6.2%. Enterprise Products Partners’s payout ratio is presently 77.78%.

About Enterprise Products Partners

Enterprise Products Partners L.P. is a publicly traded master limited partnership that owns and operates midstream energy infrastructure in the United States. The company transports, stores, processes and exports oil, natural gas, natural gas liquids (NGLs), refined products and petrochemicals.

Its operations include pipelines, natural gas processing plants, NGL fractionation facilities, underground storage, marine terminals and export infrastructure. Enterprise serves producers, refiners, petrochemical manufacturers, utilities and other energy customers by connecting major producing regions with domestic and international markets.

Enterprise Products Partners was founded in 1968 and is headquartered in Houston, Texas.