Enterprise Products Partners (NYSE:EPD) Shares Down 1.5%

Enterprise Products Partners L.P. (NYSE:EPD)’s share price was down 1.5% on Friday . The stock traded as low as $28.10 and last traded at $28.14. 1,762,144 shares were traded during trading, a decline of 61% from the average daily volume of 4,466,380 shares. The stock had previously closed at $28.56.

Analysts Set New Price Targets

A number of brokerages have commented on EPD. JPMorgan Chase & Co. cut their price target on shares of Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Thursday, May 16th. Wells Fargo & Company lifted 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 target price on shares of Enterprise Products Partners in a report on Friday, April 5th. Truist Financial upped their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Scotiabank boosted their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $32.92.

Enterprise Products Partners Stock Down 0.6 %

The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.68 and a current ratio of 0.93. The company has a market cap of $61.67 billion, a P/E ratio of 11.04, a PEG ratio of 1.34 and a beta of 1.04. The firm’s 50-day simple moving average is $28.92 and its 200 day simple moving average is $28.37.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.02). Enterprise Products Partners had a return on equity of 20.18% and a net margin of 10.48%. The company had revenue of $13.48 billion for the quarter, compared to analyst estimates of $14.23 billion. During the same quarter in the previous year, the firm posted $0.57 earnings per share. Enterprise Products Partners’s quarterly revenue was up 26.6% compared to the same quarter last year. On average, research analysts forecast that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st will be given a $0.525 dividend. The ex-dividend date is Wednesday, July 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.39%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s dividend payout ratio is currently 82.35%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Hantz Financial Services Inc. bought a new stake in shares of Enterprise Products Partners in the second quarter valued at about $25,000. Accordant Advisory Group Inc acquired a new position in shares of Enterprise Products Partners during the 1st quarter worth approximately $26,000. Burkett Financial Services LLC bought a new stake in Enterprise Products Partners in the 4th quarter valued at $28,000. Stephens Consulting LLC acquired a new stake in Enterprise Products Partners during the 1st quarter valued at $29,000. Finally, Palisade Asset Management LLC bought a new position in Enterprise Products Partners during the first quarter worth $29,000. 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.