Enterprise Products Partners (NYSE:EPD) Stock Price Down 0.1% – What’s Next?

Enterprise Products Partners L.P. (NYSE:EPD) shares traded down 0.1% on Tuesday . The stock traded as low as $29.32 and last traded at $29.47. 720,555 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 4,304,583 shares. The stock had previously closed at $29.49.

Analyst Upgrades and Downgrades

EPD has been the topic of several research reports. Truist Financial boosted their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $33.50.

Enterprise Products Partners Price Performance

The business has a 50 day simple moving average of $29.20 and a two-hundred day simple moving average of $28.97. The firm has a market capitalization of $63.47 billion, a P/E ratio of 11.56, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91.

Enterprise Products Partners (NYSE:EPD) last announced 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). The company had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $14.23 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The firm’s revenue was up 26.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.57 earnings per share. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.71 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 7.18%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s payout ratio is currently 82.35%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of hedge funds have recently made changes to their positions in the business. Hantz Financial Services Inc. bought a new stake in Enterprise Products Partners in the second quarter worth $25,000. Stephens Consulting LLC purchased a new stake in Enterprise Products Partners during the 1st quarter valued at about $29,000. Palisade Asset Management LLC bought a new position in Enterprise Products Partners during the 1st quarter worth approximately $29,000. Mascoma Wealth Management LLC purchased a new position in Enterprise Products Partners in the 2nd quarter worth approximately $29,000. Finally, MFA Wealth Advisors LLC bought a new stake in Enterprise Products Partners in the second quarter valued at approximately $37,000. 26.07% of the stock is currently owned by institutional investors.

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.