Enterprise Products Partners (NYSE:EPD) Shares Down 1.5% – Here’s What Happened

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price traded down 1.5% on Thursday . The stock traded as low as $37.26 and last traded at $37.2920. 2,262,194 shares traded hands during trading, a decline of 50% from the average session volume of 4,489,479 shares. The stock had previously closed at $37.87.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Jefferies Financial Group boosted their price objective on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the stock a “hold” rating in a research report on Tuesday, March 31st. Citigroup restated a “buy” rating and set a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. Weiss Ratings lowered shares of Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, May 21st. Royal Bank Of Canada raised their target price on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, March 30th. Finally, Wells Fargo & Company upgraded shares of Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $40.00 to $42.00 in a research report on Wednesday, March 25th. Nine research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $39.67.

Enterprise Products Partners Stock Down 1.5%

The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03. The firm has a 50 day moving average of $38.02 and a two-hundred day moving average of $35.63. The stock has a market capitalization of $80.62 billion, a PE ratio of 13.81, a P/E/G ratio of 1.33 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The company had revenue of $14.39 billion during the quarter, compared to analysts’ expectations of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. Enterprise Products Partners’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 EPS. Equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were given a $0.55 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $2.20 annualized dividend and a dividend yield of 5.9%. Enterprise Products Partners’s dividend payout ratio is presently 81.48%.

Insider Activity

In other news, CEO Aj Teague acquired 2,665 shares of the company’s stock in a transaction dated Friday, March 20th. The shares were bought at an average price of $37.55 per share, for a total transaction of $100,070.75. Following the completion of the purchase, the chief executive officer directly 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 32.60% of the stock is owned by insiders.

Institutional Trading of Enterprise Products Partners

Hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC lifted its stake in Enterprise Products Partners by 19.9% during the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock worth $1,023,000 after purchasing an additional 5,425 shares during the last quarter. Schnieders Capital Management LLC. raised its stake in Enterprise Products Partners by 9.3% during the 2nd quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer’s stock valued at $1,827,000 after acquiring an additional 5,000 shares in the last quarter. Geode Capital Management LLC boosted its stake in Enterprise Products Partners by 6.2% during the 2nd quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer’s stock valued at $1,975,000 after purchasing an additional 3,742 shares in the last quarter. Guggenheim Capital LLC boosted its stake in Enterprise Products Partners by 6.1% during the 2nd quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer’s stock valued at $847,000 after purchasing an additional 1,578 shares in the last quarter. Finally, Glenview Trust co boosted its stake in Enterprise Products Partners by 315.8% during the 2nd quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer’s stock valued at $1,043,000 after purchasing an additional 25,555 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

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.