Enterprise Products Partners (NYSE:EPD) Stock Price Down 0.6% – What’s Next?

Enterprise Products Partners L.P. (NYSE:EPD)’s share price dropped 0.6% on Monday . The stock traded as low as $32.52 and last traded at $32.60. Approximately 953,883 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 4,313,083 shares. The stock had previously closed at $32.80.

Wall Street Analysts Forecast Growth

EPD has been the subject of several recent research reports. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Bank of America initiated coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $34.00.

Enterprise Products Partners Price Performance

The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The firm’s 50-day moving average is $30.56 and its 200-day moving average is $29.55. The company has a market cap of $69.77 billion, a PE ratio of 12.07, a PEG ratio of 1.69 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The business had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. Enterprise Products Partners’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.60 EPS. On average, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 6.52%. The ex-dividend date of this dividend was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 78.65%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Paragon Advisors LLC bought a new position in shares of Enterprise Products Partners in the third quarter worth approximately $2,628,000. FMR LLC lifted its stake in shares of Enterprise Products Partners by 9.3% in the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after buying an additional 1,225,988 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Enterprise Products Partners by 5.2% in the third quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock worth $118,561,000 after buying an additional 200,625 shares in the last quarter. Brown Brothers Harriman & Co. lifted its stake in shares of Enterprise Products Partners by 37.7% in the third quarter. Brown Brothers Harriman & Co. now owns 58,510 shares of the oil and gas producer’s stock worth $1,703,000 after buying an additional 16,018 shares in the last quarter. Finally, Brookfield Corp ON lifted its stake in shares of Enterprise Products Partners by 6.2% in the third quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock worth $138,639,000 after buying an additional 278,892 shares in the last quarter. 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.