Enterprise Products Partners (NYSE:EPD) Trading Down 1.5% – Should You Sell?

Enterprise Products Partners L.P. (NYSE:EPD)’s share price traded down 1.5% during trading on Monday . The stock traded as low as $38.07 and last traded at $38.1450. 4,138,164 shares changed hands during mid-day trading, a decline of 0% from the average daily volume of 4,154,980 shares. The stock had previously closed at $38.73.

Wall Street Analyst Weigh In

EPD has been the topic of several research reports. Stifel Nicolaus boosted their price target on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. TD Cowen reiterated a “hold” rating and set a $38.00 target price (up from $34.00) on shares of Enterprise Products Partners in a research report on Thursday, April 16th. Wall Street Zen lowered shares of Enterprise Products Partners from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Royal Bank Of Canada upped their price target on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, March 30th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $38.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Eight research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $39.93.

Enterprise Products Partners Stock Down 1.5%

The stock has a 50-day moving average price of $37.67 and a 200-day moving average price of $36.77. 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 company has a market capitalization of $82.46 billion, a P/E ratio of 14.13, a P/E/G ratio of 1.41 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.03). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The company had revenue of $14.39 billion during the quarter, compared to the consensus estimate of $13.62 billion. During the same quarter in the previous year, the company earned $0.64 earnings per share. The business’s revenue was down 6.7% on a year-over-year basis. On average, research analysts predict that Enterprise Products Partners L.P. will post 2.93 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 5.9%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, July 31st. Enterprise Products Partners’s dividend payout ratio is currently 81.48%.

Hedge Funds Weigh In On Enterprise Products Partners

Several hedge funds and other institutional investors have recently bought and sold shares of EPD. Everest Financial Group LLC raised its position in shares of Enterprise Products Partners by 3.6% in the 1st quarter. Everest Financial Group LLC now owns 7,886 shares of the oil and gas producer’s stock worth $298,000 after acquiring an additional 271 shares in the last quarter. Walker Asset Management LLC lifted its stake in shares of Enterprise Products Partners by 1.4% in the 2nd quarter. Walker Asset Management LLC now owns 20,256 shares of the oil and gas producer’s stock valued at $745,000 after purchasing an additional 282 shares during the period. Hobbs Group Advisors LLC boosted its position in shares of Enterprise Products Partners by 1.4% during the 1st quarter. Hobbs Group Advisors LLC now owns 20,895 shares of the oil and gas producer’s stock valued at $791,000 after purchasing an additional 298 shares in the last quarter. Hunter Associates Investment Management LLC grew its stake in Enterprise Products Partners by 3.8% during the first quarter. Hunter Associates Investment Management LLC now owns 8,106 shares of the oil and gas producer’s stock worth $307,000 after purchasing an additional 300 shares during the period. Finally, ORG Wealth Partners LLC grew its stake in Enterprise Products Partners by 0.5% during the fourth quarter. ORG Wealth Partners LLC now owns 66,266 shares of the oil and gas producer’s stock worth $2,125,000 after purchasing an additional 317 shares during the period. Institutional investors and hedge funds 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.