Enterprise Products Partners (NYSE:EPD) Trading Down 0.8% – Time to Sell?

Enterprise Products Partners L.P. (NYSE:EPD)’s share price dropped 0.8% on Thursday . The stock traded as low as $33.35 and last traded at $33.37. Approximately 520,738 shares changed hands during trading, a decline of 89% from the average daily volume of 4,712,808 shares. The stock had previously closed at $33.65.

Analysts Set New Price Targets

Several research firms recently commented on EPD. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Truist Financial upped their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Scotiabank started coverage on Enterprise Products Partners in a report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price target on the stock. Citigroup upped their price objective on shares of Enterprise Products Partners from $36.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Finally, 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. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Enterprise Products Partners has a consensus rating of “Moderate Buy” and a consensus target price of $34.70.

Enterprise Products Partners Stock Down 0.5 %

The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The firm has a market capitalization of $72.41 billion, a PE ratio of 12.42, a P/E/G ratio of 1.37 and a beta of 1.09. The business’s 50 day moving average price is $32.63 and its 200-day moving average price is $30.93.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly 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 analysts’ expectations of $14.07 billion. During the same quarter in the prior year, the company earned $0.72 earnings per share. The business’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.535 dividend. The ex-dividend date was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.41%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s payout ratio is currently 79.55%.

Institutional Trading of Enterprise Products Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of EPD. Rosenberg Matthew Hamilton grew its stake in Enterprise Products Partners by 364.4% during 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 during the last quarter. Tidemark LLC raised its position in Enterprise Products Partners by 54.3% during the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock worth $28,000 after buying an additional 318 shares during the last quarter. Lee Danner & Bass Inc. acquired a new stake in shares of Enterprise Products Partners in the 4th quarter worth $29,000. Crowley Wealth Management Inc. purchased a new stake in shares of Enterprise Products Partners in the fourth quarter valued at about $30,000. Finally, National Bank of Canada FI increased its stake in shares of Enterprise Products Partners by 55.4% during the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock worth $32,000 after acquiring an additional 360 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

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.