Enterprise Products Partners (NYSE:EPD) Trading Down 1.1% – Should You Sell?

Enterprise Products Partners L.P. (NYSE:EPD)’s share price traded down 1.1% during mid-day trading on Wednesday . The company traded as low as $37.42 and last traded at $37.6990. Approximately 3,042,815 shares changed hands during mid-day trading, a decline of 27% from the average session volume of 4,157,689 shares. The stock had previously closed at $38.12.

Analyst Upgrades and Downgrades

EPD has been the topic of several research analyst reports. Weiss Ratings lowered Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday, July 2nd. UBS Group reaffirmed a “buy” rating and set a $45.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, June 17th. The Goldman Sachs Group reiterated a “neutral” rating and set a $38.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Truist Financial upped their target price on Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. raised their price target on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Eight 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $39.93.

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 stock has a market capitalization of $81.50 billion, a price-to-earnings ratio of 13.09, a P/E/G ratio of 1.37 and a beta of 0.49. The company has a 50-day moving average of $37.52 and a 200-day moving average of $37.08.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Thursday, July 30th. The oil and gas producer reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. The firm had revenue of $18.27 billion for the quarter, compared to analysts’ expectations of $13.69 billion. Enterprise Products Partners had a return on equity of 20.80% and a net margin of 10.79%.Enterprise Products Partners’s quarterly revenue was up 60.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 EPS. As a group, equities research analysts expect that Enterprise Products Partners L.P. will post 2.94 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Friday, July 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.9%. Enterprise Products Partners’s dividend payout ratio is 77.78%.

Institutional Trading of Enterprise Products Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EPD. Palisade Asset Management LLC purchased a new position in Enterprise Products Partners in the 3rd quarter valued at about $31,000. Bravera Wealth grew its holdings in shares of Enterprise Products Partners by 666.7% during the second quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock worth $38,000 after buying an additional 900 shares in the last quarter. Daytona Street Capital LLC purchased a new stake in shares of Enterprise Products Partners during the fourth quarter worth about $42,000. Groesbeck Investment Management Corp NJ acquired a new position in shares of Enterprise Products Partners in the fourth quarter valued at approximately $45,000. Finally, West Paces Advisors Inc. acquired a new position in shares of Enterprise Products Partners in the second quarter valued at approximately $55,000. Hedge funds and other institutional investors 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.