Enterprise Products Partners (NYSE:EPD) Shares Gap Down – What’s Next?

Enterprise Products Partners L.P. (NYSE:EPD) gapped down before the market opened on Tuesday . The stock had previously closed at $33.13, but opened at $32.04. Enterprise Products Partners shares last traded at $33.28, with a volume of 1,143,268 shares trading hands.

Analyst Upgrades and Downgrades

EPD has been the subject of several 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. Scotiabank initiated coverage on shares of Enterprise Products Partners in a research note on Friday, January 10th. They set a “sector perform” rating and a $33.00 price objective for the company. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a research report on Wednesday, December 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Finally, Bank of America initiated coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Enterprise Products Partners currently has an average rating of “Moderate Buy” and an average price target of $34.44.

Enterprise Products Partners Trading Down 1.1 %

The firm’s 50 day simple moving average is $32.55 and its two-hundred day simple moving average is $30.57. 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 stock has a market cap of $71.04 billion, a P/E ratio of 12.31, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. During the same quarter last year, the firm earned $0.72 earnings per share. As a group, equities research analysts predict that Enterprise Products Partners L.P. will post 2.67 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.535 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, January 31st. This represents a $2.14 annualized dividend and a dividend yield of 6.53%. Enterprise Products Partners’s payout ratio is 80.15%.

Institutional Trading of Enterprise Products Partners

Several hedge funds have recently bought and sold shares of the company. Rosenberg Matthew Hamilton grew its holdings in Enterprise Products Partners by 364.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 656 shares in the last quarter. DiNuzzo Private Wealth Inc. grew its stake in shares of Enterprise Products Partners by 1,000.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 1,000 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Enterprise Products Partners by 19,800.0% during the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after purchasing an additional 1,188 shares during the period. Sanctuary Wealth Management L.L.C. bought a new stake in shares of Enterprise Products Partners during the third quarter valued at about $36,000. Finally, Bangor Savings Bank lifted its holdings in Enterprise Products Partners by 558.3% in the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after purchasing an additional 1,072 shares during the period. 26.07% of the stock is currently owned by institutional investors.

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.