Enterprise Products Partners (NYSE:EPD) Stock Price Down 0.6%

Shares of Enterprise Products Partners L.P. (NYSE:EPD) fell 0.6% on Wednesday . The stock traded as low as $28.63 and last traded at $28.74. 926,974 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 4,889,905 shares. The stock had previously closed at $28.91.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EPD. Mizuho reiterated a “buy” rating and issued a $34.00 price objective on shares of Enterprise Products Partners in a research note on Thursday, April 4th. Wells Fargo & Company upped their price objective on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Scotiabank upped their price objective on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 4th. Barclays increased their price target on Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 26th. Finally, StockNews.com upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 9th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Enterprise Products Partners has an average rating of “Buy” and an average target price of $32.58.

Enterprise Products Partners Stock Performance

The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.95. The stock has a 50 day moving average price of $28.46 and a two-hundred day moving average price of $27.29. The company has a market cap of $62.99 billion, a price-to-earnings ratio of 11.53 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. The firm had revenue of $14.62 billion during the quarter, compared to analysts’ expectations of $12.43 billion. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The company’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 EPS. Analysts predict that Enterprise Products Partners L.P. will post 2.63 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be issued a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 7.09%. The ex-dividend date of this dividend is Monday, April 29th. Enterprise Products Partners’s payout ratio is 81.75%.

Institutional Investors Weigh In On Enterprise Products Partners

Several hedge funds have recently bought and sold shares of the company. Simplicity Wealth LLC acquired a new stake in Enterprise Products Partners in the 1st quarter valued at about $608,000. Childress Capital Advisors LLC boosted its holdings in shares of Enterprise Products Partners by 3.1% during the first quarter. Childress Capital Advisors LLC now owns 173,978 shares of the oil and gas producer’s stock worth $5,077,000 after acquiring an additional 5,250 shares during the period. Essex Financial Services Inc. boosted its holdings in shares of Enterprise Products Partners by 4.6% during the first quarter. Essex Financial Services Inc. now owns 23,773 shares of the oil and gas producer’s stock worth $694,000 after acquiring an additional 1,056 shares during the period. Charter Oak Capital Management LLC bought a new stake in shares of Enterprise Products Partners during the first quarter worth approximately $246,000. Finally, Canal Capital Management LLC bought a new stake in shares of Enterprise Products Partners during the first quarter worth approximately $208,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

About Enterprise Products Partners

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.