Enterprise Products Partners (NYSE:EPD) Trading Down 0.5% – Here’s What Happened

Enterprise Products Partners L.P. (NYSE:EPD) traded down 0.5% on Tuesday . The stock traded as low as $28.85 and last traded at $28.86. 908,784 shares changed hands during trading, a decline of 79% from the average session volume of 4,283,058 shares. The stock had previously closed at $29.00.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on EPD. Bank of America initiated coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective for the company. StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Truist Financial lifted their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada raised their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $33.73.

Enterprise Products Partners Trading Up 0.1 %

The stock has a market capitalization of $62.90 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 1.49 and a beta of 1.03. The business has a 50-day moving average of $29.25 and a 200-day moving average of $28.95. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The business had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $14.23 billion. During the same quarter last year, the business posted $0.57 earnings per share. The business’s revenue was up 26.6% on a year-over-year basis. As a group, research analysts forecast that Enterprise Products Partners L.P. will post 2.71 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued a $0.525 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.25%. Enterprise Products Partners’s payout ratio is 82.35%.

Hedge Funds Weigh In On Enterprise Products Partners

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pathway Financial Advisers LLC lifted its position in Enterprise Products Partners by 2,862.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock worth $225,777,000 after acquiring an additional 7,494,224 shares during the period. Blackstone Inc. grew its position in Enterprise Products Partners by 6.3% in the 1st quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock valued at $686,712,000 after buying an additional 1,391,370 shares during the last quarter. Reaves W H & Co. Inc. increased its stake in Enterprise Products Partners by 1,368.4% in the 1st quarter. Reaves W H & Co. Inc. now owns 1,468,440 shares of the oil and gas producer’s stock valued at $42,849,000 after buying an additional 1,368,440 shares during the period. International Assets Investment Management LLC raised its position in Enterprise Products Partners by 2,854.1% during the 3rd quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock worth $37,474,000 after buying an additional 1,243,741 shares during the last quarter. Finally, Berkley W R Corp lifted its stake in shares of Enterprise Products Partners by 24.5% in the 1st quarter. Berkley W R Corp now owns 5,089,794 shares of the oil and gas producer’s stock worth $148,520,000 after acquiring an additional 1,000,000 shares during the period. 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.