Enterprise Products Partners (NYSE:EPD) Trading Down 1.6% – Time to Sell?

Enterprise Products Partners L.P. (NYSE:EPD)’s share price was down 1.6% on Monday . The company traded as low as $33.88 and last traded at $33.89. Approximately 1,463,018 shares changed hands during trading, a decline of 66% from the average daily volume of 4,299,346 shares. The stock had previously closed at $34.43.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on EPD shares. Bank of America assumed coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Finally, US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Enterprise Products Partners has an average rating of “Buy” and a consensus target price of $34.00.

Enterprise Products Partners Trading Down 1.3 %

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 business’s 50 day moving average price is $30.11 and its 200-day moving average price is $29.36. The firm has a market cap of $73.68 billion, a price-to-earnings ratio of 12.69, a price-to-earnings-growth ratio of 1.78 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS 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 analyst estimates of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 EPS. Equities analysts expect that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were given a $0.525 dividend. The ex-dividend date was Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a yield of 6.18%. Enterprise Products Partners’s dividend payout ratio (DPR) is 78.65%.

Hedge Funds Weigh In On Enterprise Products Partners

Large investors have recently made changes to their positions in the business. Hantz Financial Services Inc. acquired a new position in Enterprise Products Partners in the second quarter worth approximately $25,000. Mascoma Wealth Management LLC acquired a new position in shares of Enterprise Products Partners in the 2nd quarter worth $29,000. DiNuzzo Private Wealth Inc. raised its position in shares of Enterprise Products Partners by 1,000.0% during 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 during the period. Assetmark Inc. raised its position 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 worth $35,000 after purchasing an additional 1,188 shares during the period. Finally, Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Enterprise Products Partners during the third quarter valued at $36,000. 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.