Enterprise Products Partners (NYSE:EPD) Stock Price Down 0.3%

Shares of Enterprise Products Partners L.P. (NYSE:EPD) were down 0.3% on Tuesday . The stock traded as low as $28.86 and last traded at $28.92. Approximately 2,226,151 shares were traded during trading, a decline of 54% from the average daily volume of 4,868,533 shares. The stock had previously closed at $29.00.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on EPD. Barclays raised their price target on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, March 26th. Wells Fargo & Company raised their price objective on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Stifel Nicolaus upped their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Scotiabank lifted their price target on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a research note on Friday, April 5th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Buy” and a consensus price target of $32.58.

Enterprise Products Partners Stock Down 0.3 %

The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93. The firm’s 50 day moving average price is $28.41 and its two-hundred day moving average price is $27.28. The company has a market cap of $62.71 billion, a P/E ratio of 11.48 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.04. The firm had revenue of $14.62 billion during the quarter, compared to the consensus estimate of $12.43 billion. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.65 earnings per share. Equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.63 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be issued a $0.515 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.06 annualized dividend and a yield of 7.12%. Enterprise Products Partners’s payout ratio is currently 81.75%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of institutional investors have recently modified their holdings of EPD. Fifth Third Bancorp grew its position in Enterprise Products Partners by 8.9% in the 1st quarter. Fifth Third Bancorp now owns 27,157 shares of the oil and gas producer’s stock valued at $792,000 after purchasing an additional 2,225 shares during the period. Tyche Wealth Partners LLC lifted its stake in shares of Enterprise Products Partners by 7.8% in the first quarter. Tyche Wealth Partners LLC now owns 32,870 shares of the oil and gas producer’s stock valued at $959,000 after buying an additional 2,369 shares in the last quarter. Wesbanco Bank Inc. grew its holdings in shares of Enterprise Products Partners by 84.5% during the first quarter. Wesbanco Bank Inc. now owns 35,033 shares of the oil and gas producer’s stock valued at $1,022,000 after buying an additional 16,040 shares during the last quarter. Regatta Capital Group LLC bought a new stake in shares of Enterprise Products Partners during the first quarter worth about $205,000. Finally, Stablepoint Partners LLC raised its holdings in shares of Enterprise Products Partners by 36.6% in the 1st quarter. Stablepoint Partners LLC now owns 32,418 shares of the oil and gas producer’s stock worth $946,000 after acquiring an additional 8,680 shares during the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

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.