Enterprise Products Partners (NYSE:EPD) Stock Price Down 1.9% – Should You Sell?

Enterprise Products Partners L.P. (NYSE:EPD)’s share price traded down 1.9% during mid-day trading on Friday . The stock traded as low as $36.71 and last traded at $36.80. 7,251,488 shares changed hands during trading, an increase of 54% from the average session volume of 4,714,499 shares. The stock had previously closed at $37.50.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Truist Financial boosted their target price on Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. Morgan Stanley restated an “underweight” rating and set a $43.00 target price (up from $42.00) on shares of Enterprise Products Partners in a research report on Wednesday, May 20th. Royal Bank Of Canada boosted their target price on Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, March 30th. The Goldman Sachs Group restated a “neutral” rating and set a $39.00 target price on shares of Enterprise Products Partners in a research report on Thursday, May 14th. Finally, Wall Street Zen lowered Enterprise Products Partners from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Nine 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $39.67.

Enterprise Products Partners Price Performance

The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. The company has a 50-day moving average of $38.15 and a 200-day moving average of $35.25. The firm has a market capitalization of $79.55 billion, a price-to-earnings ratio of 13.63, a price-to-earnings-growth ratio of 1.40 and a beta of 0.52.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (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 business had revenue of $14.39 billion during the quarter, compared to analyst estimates of $13.62 billion. During the same quarter in the prior year, the firm posted $0.64 earnings per share. Enterprise Products Partners’s revenue for the quarter was down 6.7% compared to the same quarter last year. As a group, research analysts anticipate that Enterprise Products Partners L.P. will post 2.98 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

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

Insiders Place Their Bets

In other news, CEO Aj Teague purchased 2,665 shares of Enterprise Products Partners stock in a transaction on Friday, March 20th. The stock was purchased at an average price of $37.55 per share, with a total value of $100,070.75. Following the transaction, the chief executive officer directly owned 77,576 shares in the company, valued at $2,912,978.80. The trade was a 3.56% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 32.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Enterprise Products Partners

Large investors have recently bought and sold shares of the company. PMV Capital Advisers LLC acquired a new position in Enterprise Products Partners during the 4th quarter worth approximately $25,000. Palisade Asset Management LLC acquired a new position in Enterprise Products Partners during the 3rd quarter worth approximately $31,000. Abich Financial Wealth Management LLC acquired a new position in Enterprise Products Partners during the 3rd quarter worth approximately $32,000. Texas Capital Bancshares Inc TX acquired a new position in Enterprise Products Partners during the 3rd quarter worth approximately $32,000. Finally, Daytona Street Capital LLC acquired a new position in Enterprise Products Partners during the 4th quarter worth approximately $42,000. 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.