Enterprise Products Partners (NYSE:EPD) Shares Down 0.3% – Time to Sell?

Enterprise Products Partners L.P. (NYSE:EPD) was down 0.3% during trading on Wednesday . The company traded as low as $28.85 and last traded at $28.85. Approximately 520,026 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 4,277,300 shares. The stock had previously closed at $28.95.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EPD. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Royal Bank of Canada raised their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Bank of America began coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target on the stock. Finally, Truist Financial lifted their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Enterprise Products Partners has a consensus rating of “Buy” and an average target price of $33.73.

Enterprise Products Partners Stock Down 0.5 %

The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The company has a 50 day simple moving average of $29.24 and a two-hundred day simple moving average of $28.95. The company has a market capitalization of $62.56 billion, a P/E ratio of 11.31, a PEG ratio of 1.49 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.02). The company had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The business’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.57 EPS. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.71 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 7.29%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is currently 82.35%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of large investors have recently made changes to their positions in EPD. Blackstone Inc. grew its position in Enterprise Products Partners by 6.3% in the 1st quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock valued at $686,712,000 after acquiring an additional 1,391,370 shares during the last quarter. Reaves W H & Co. Inc. lifted its holdings in Enterprise Products Partners by 1,368.4% during the 1st quarter. Reaves W H & Co. Inc. now owns 1,468,440 shares of the oil and gas producer’s stock valued at $42,849,000 after buying an additional 1,368,440 shares in the last quarter. International Assets Investment Management LLC boosted its position in Enterprise Products Partners by 2,854.1% in the 3rd quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock valued at $37,474,000 after buying an additional 1,243,741 shares during the period. Berkley W R Corp grew its stake in Enterprise Products Partners by 24.5% in the 1st quarter. Berkley W R Corp now owns 5,089,794 shares of the oil and gas producer’s stock worth $148,520,000 after acquiring an additional 1,000,000 shares in the last quarter. Finally, Distillate Capital Partners LLC increased its position in shares of Enterprise Products Partners by 160,136.7% during the second quarter. Distillate Capital Partners LLC now owns 767,534 shares of the oil and gas producer’s stock worth $22,243,000 after acquiring an additional 767,055 shares during the period. 26.07% of the stock is 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.