Enterprise Products Partners (NYSE:EPD) Shares Down 0.3%

Shares of Enterprise Products Partners L.P. (NYSE:EPD) dropped 0.3% during trading on Monday . The stock traded as low as $29.83 and last traded at $29.84. Approximately 1,019,795 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 4,376,385 shares. The stock had previously closed at $29.94.

Analysts Set New Price Targets

Several research firms recently issued reports on EPD. Mizuho reaffirmed a “buy” rating and set a $34.00 price objective on shares of Enterprise Products Partners in a report on Thursday, April 4th. JPMorgan Chase & Co. dropped their target price on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Thursday, May 16th. Scotiabank lifted their price objective on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 4th. Royal Bank of Canada restated an “outperform” rating and set a $35.00 target price on shares of Enterprise Products Partners in a report on Friday, April 5th. Finally, Morgan Stanley decreased their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Monday, June 10th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $32.77.

Enterprise Products Partners Stock Performance

The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.99. The company has a 50-day moving average of $28.86 and a 200-day moving average of $28.33. The company has a market cap of $64.78 billion, a PE ratio of 11.69, a PEG ratio of 1.40 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.02. The company had revenue of $14.76 billion during the quarter, compared to analyst estimates of $13.82 billion. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. Enterprise Products Partners’s quarterly revenue was up 18.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.64 earnings per share. As a group, analysts anticipate that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st will be paid a dividend of $0.525 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date is Wednesday, July 31st. This represents a $2.10 annualized dividend and a dividend yield of 7.04%. Enterprise Products Partners’s dividend payout ratio is presently 80.78%.

Hedge Funds Weigh In On Enterprise Products Partners

Several hedge funds have recently made changes to their positions in the stock. Cadence Bank increased its stake in Enterprise Products Partners by 0.7% in the first quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock valued at $1,530,000 after acquiring an additional 365 shares during the last quarter. Hazlett Burt & Watson Inc. raised its position in Enterprise Products Partners by 8.2% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 4,897 shares of the oil and gas producer’s stock valued at $128,000 after purchasing an additional 371 shares during the last quarter. McAdam LLC lifted its stake in Enterprise Products Partners by 1.3% in the second quarter. McAdam LLC now owns 28,670 shares of the oil and gas producer’s stock worth $831,000 after acquiring an additional 372 shares during the period. Ellsworth Advisors LLC increased its position in shares of Enterprise Products Partners by 1.8% during the second quarter. Ellsworth Advisors LLC now owns 21,959 shares of the oil and gas producer’s stock valued at $636,000 after buying an additional 383 shares during the period. Finally, Stokes Family Office LLC lifted its holdings in Enterprise Products Partners by 2.5% in the second quarter. Stokes Family Office LLC now owns 16,139 shares of the oil and gas producer’s stock worth $468,000 after buying an additional 399 shares during the period. 26.07% of the stock is currently owned by hedge funds and other 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.