Enterprise Products Partners (NYSE:EPD) Trading Down 0.3%

Enterprise Products Partners L.P. (NYSE:EPD) shares traded down 0.3% during mid-day trading on Tuesday . The stock traded as low as $28.86 and last traded at $28.92. 2,226,151 shares were traded during mid-day trading, a decline of 54% from the average session volume of 4,868,533 shares. The stock had previously closed at $29.00.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Mizuho restated a “buy” rating and issued a $34.00 price objective on shares of Enterprise Products Partners in a report on Thursday, April 4th. Royal Bank of Canada restated an “outperform” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a report on Friday, April 5th. StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 9th. Barclays lifted their target price on Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday, March 26th. Finally, Scotiabank lifted their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $32.58.

Enterprise Products Partners Stock Performance

The firm has a market capitalization of $62.98 billion, a price-to-earnings ratio of 11.53 and a beta of 1.02. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The stock has a 50-day moving average price of $28.51 and a 200 day moving average price of $27.31.

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

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be paid a dividend of $0.515 per share. 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 dividend payout ratio (DPR) is presently 81.75%.

Institutional Investors Weigh In On Enterprise Products Partners

Large investors have recently modified their holdings of the stock. Cerity Partners LLC raised its stake in shares of Enterprise Products Partners by 89.9% during the fourth quarter. Cerity Partners LLC now owns 289,549 shares of the oil and gas producer’s stock worth $7,630,000 after purchasing an additional 137,044 shares during the last quarter. Kingsview Wealth Management LLC raised its position in Enterprise Products Partners by 8.7% in the third quarter. Kingsview Wealth Management LLC now owns 38,550 shares of the oil and gas producer’s stock worth $1,055,000 after acquiring an additional 3,075 shares in the last quarter. Cullen Investment Group LTD. purchased a new position in Enterprise Products Partners in the fourth quarter worth $7,542,000. Sapient Capital LLC purchased a new position in Enterprise Products Partners in the fourth quarter worth $3,271,000. Finally, Acadian Asset Management LLC purchased a new position in Enterprise Products Partners in the third quarter worth $3,793,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. 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.