Enterprise Products Partners (NYSE:EPD) Shares Down 0.1% – Time to Sell?

Enterprise Products Partners L.P. (NYSE:EPD) shares were down 0.1% during mid-day trading on Monday . The stock traded as low as $33.75 and last traded at $33.81. Approximately 711,824 shares traded hands during trading, a decline of 83% from the average daily volume of 4,125,003 shares. The stock had previously closed at $33.85.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Morgan Stanley raised their price target on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 11th. Truist Financial upped their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Barclays lifted their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a report on Wednesday, December 18th. Finally, Scotiabank raised their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research note on Thursday, March 6th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.90.

Enterprise Products Partners Stock Performance

The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The stock has a fifty day simple moving average of $33.43 and a two-hundred day simple moving average of $31.64. The firm has a market capitalization of $72.57 billion, a P/E ratio of 12.46, a P/E/G ratio of 1.37 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period in the prior year, the firm earned $0.72 earnings per share. Enterprise Products Partners’s revenue was down 2.9% on a year-over-year basis. On average, research analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 6.39%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners’s payout ratio is presently 79.55%.

Institutional Investors Weigh In On Enterprise Products Partners

Hedge funds and other institutional investors have recently modified their holdings of the company. Cerity Partners LLC raised its holdings in Enterprise Products Partners by 15.9% during the third quarter. Cerity Partners LLC now owns 395,516 shares of the oil and gas producer’s stock worth $11,513,000 after buying an additional 54,325 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of Enterprise Products Partners by 394.5% in the 3rd quarter. Larson Financial Group LLC now owns 31,829 shares of the oil and gas producer’s stock worth $927,000 after acquiring an additional 25,393 shares during the last quarter. Summit Trail Advisors LLC raised its holdings in shares of Enterprise Products Partners by 11.7% in the 3rd quarter. Summit Trail Advisors LLC now owns 28,055 shares of the oil and gas producer’s stock worth $817,000 after acquiring an additional 2,942 shares during the last quarter. Independent Advisor Alliance boosted its stake in Enterprise Products Partners by 8.1% during the 3rd quarter. Independent Advisor Alliance now owns 130,940 shares of the oil and gas producer’s stock valued at $3,812,000 after purchasing an additional 9,855 shares during the last quarter. Finally, Brown Brothers Harriman & Co. increased its holdings in Enterprise Products Partners by 37.7% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 58,510 shares of the oil and gas producer’s stock worth $1,703,000 after purchasing an additional 16,018 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

About Enterprise Products Partners

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.