Enterprise Products Partners (NYSE:EPD) Stock Price Down 1.3% – Time to Sell?

Enterprise Products Partners L.P. (NYSE:EPD) fell 1.3% on Thursday . The stock traded as low as $37.25 and last traded at $37.31. Approximately 2,277,607 shares were traded during trading, a decline of 47% from the average session volume of 4,268,282 shares. The stock had previously closed at $37.80.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Truist Financial lifted their price objective on Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a research report on Monday, May 4th. Morgan Stanley reiterated an “underweight” rating and issued a $43.00 price target (up from $42.00) on shares of Enterprise Products Partners in a research report on Wednesday, May 20th. Citigroup restated a “buy” rating and set a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. JPMorgan Chase & Co. upped their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Weiss Ratings cut Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, July 2nd. Eight investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $40.13.

Enterprise Products Partners Trading Down 0.1%

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 stock has a 50-day moving average price of $37.65 and a two-hundred day moving average price of $36.30. The stock has a market cap of $80.56 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 1.32 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The firm had revenue of $14.39 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 earnings per share. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 3.01 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders 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 yield of 6.0%. This is an increase 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 (DPR) is 81.48%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in EPD. Brighton Jones LLC boosted its holdings in shares of Enterprise Products Partners by 19.9% in the 4th 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 period. Schnieders Capital Management LLC. lifted its position in Enterprise Products Partners by 9.3% in the second quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer’s stock worth $1,827,000 after buying an additional 5,000 shares during the last quarter. Geode Capital Management LLC boosted its stake in Enterprise Products Partners by 6.2% during the second quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer’s stock worth $1,975,000 after buying an additional 3,742 shares during the period. Guggenheim Capital LLC increased its position in Enterprise Products Partners by 6.1% during the second quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer’s stock valued at $847,000 after acquiring an additional 1,578 shares during the last quarter. Finally, Glenview Trust co raised its stake in shares of Enterprise Products Partners by 315.8% in the second quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer’s stock valued at $1,043,000 after acquiring an additional 25,555 shares during the period. Institutional investors 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.