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

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

Analyst Upgrades and Downgrades

EPD has been the subject of a number of recent research reports. TD Cowen reiterated a “hold” rating and issued a $38.00 target price (up from $34.00) on shares of Enterprise Products Partners in a report on Thursday, April 16th. Scotiabank reiterated a “sector perform” rating and issued a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. Wolfe Research upgraded Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Jefferies Financial Group lifted their target price on Enterprise Products Partners from $34.00 to $40.00 and gave the stock a “hold” rating in a report on Tuesday, March 31st. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $43.00 target price (up from $42.00) on shares of Enterprise Products Partners in a report on Wednesday, May 20th. Nine analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $39.67.

Enterprise Products Partners Trading Down 1.9%

The stock has a fifty day moving average of $38.00 and a 200-day moving average of $35.69. 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 market cap of $78.98 billion, a PE ratio of 13.53, a PEG ratio of 1.33 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data 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). 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 for the quarter, compared to analysts’ expectations of $13.62 billion. During the same quarter in the previous year, the firm earned $0.64 EPS. Enterprise Products Partners’s revenue was down 6.7% compared to the same quarter last year. Sell-side 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 issued a dividend of $0.55 per share. The ex-dividend date was Thursday, April 30th. This represents a $2.20 dividend on an annualized basis and a yield of 6.0%. Enterprise Products Partners’s payout ratio is presently 81.48%.

Insider Transactions at Enterprise Products Partners

In other Enterprise Products Partners news, CEO Aj Teague acquired 2,665 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The stock was bought at an average price of $37.55 per share, for a total transaction of $100,070.75. Following the acquisition, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 32.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Enterprise Products Partners

Several hedge funds have recently made changes to their positions in EPD. Miller Howard Investments Inc. NY lifted its stake in shares of Enterprise Products Partners by 1.0% during the 4th quarter. Miller Howard Investments Inc. NY now owns 3,112,119 shares of the oil and gas producer’s stock worth $99,775,000 after purchasing an additional 31,733 shares during the last quarter. Royal Palms Capital LLC purchased a new stake in shares of Enterprise Products Partners during the 4th quarter worth $1,830,000. PNC Financial Services Group Inc. lifted its stake in shares of Enterprise Products Partners by 3.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,252,088 shares of the oil and gas producer’s stock worth $39,153,000 after purchasing an additional 36,339 shares during the last quarter. Oxbow Advisors LLC lifted its stake in shares of Enterprise Products Partners by 3.0% during the 4th quarter. Oxbow Advisors LLC now owns 1,329,085 shares of the oil and gas producer’s stock worth $42,610,000 after purchasing an additional 39,052 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Enterprise Products Partners by 70.6% during the 3rd quarter. Victory Capital Management Inc. now owns 1,495,518 shares of the oil and gas producer’s stock worth $46,765,000 after purchasing an additional 619,014 shares during the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

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.