Enterprise Products Partners (NYSE:EPD) Stock Price Down 1.9% – What’s Next?

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price was down 1.9% during mid-day trading on Monday . The stock traded as low as $36.38 and last traded at $36.5350. Approximately 3,666,028 shares traded hands during trading, a decline of 18% from the average daily volume of 4,464,924 shares. The stock had previously closed at $37.25.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on EPD shares. Wall Street Zen raised Enterprise Products Partners from a “hold” rating to a “buy” rating in a research report on Saturday. Royal Bank Of Canada upped their target price on Enterprise Products Partners from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, March 30th. Wells Fargo & Company raised Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $40.00 to $42.00 in a research report on Wednesday, March 25th. Weiss Ratings lowered Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, May 21st. Finally, Stifel Nicolaus upped their target price on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Nine research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $39.67.

Enterprise Products Partners Stock Down 1.9%

The business has a fifty day moving average price of $38.00 and a two-hundred day moving average price of $35.69. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61. The firm has a market capitalization of $78.98 billion, a price-to-earnings ratio of 13.53, a price-to-earnings-growth ratio of 1.33 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data 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 firm had revenue of $14.39 billion during the quarter, compared to analyst estimates of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The firm’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.64 earnings per share. On average, equities analysts expect that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were issued a $0.55 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 6.0%. Enterprise Products Partners’s dividend payout ratio is currently 81.48%.

Insider Buying and Selling at Enterprise Products Partners

In other news, CEO Aj Teague acquired 2,665 shares of the business’s stock in a transaction dated Friday, March 20th. The shares were acquired at an average cost of $37.55 per share, with a total value of $100,070.75. Following the completion of 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 32.60% of the company’s stock.

Institutional Trading of Enterprise Products Partners

Several hedge funds and other institutional investors have recently bought and sold shares of EPD. 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 worth $102,784,000 after acquiring an additional 31,060,000 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in Enterprise Products Partners during the third quarter worth about $292,194,000. Goldman Sachs Group Inc. grew its holdings in 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 worth $582,317,000 after acquiring an additional 1,940,583 shares during the period. Corient Private Wealth LLC grew its holdings in 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 worth $74,859,000 after acquiring an additional 1,313,976 shares during the period. Finally, Barclays PLC grew its holdings in 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 worth $93,874,000 after acquiring an additional 1,069,304 shares during the period. 26.07% of the stock is owned by institutional investors and hedge funds.

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.