Enterprise Products Partners (NYSE:EPD) Shares Down 0.1% – Time to Sell?

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price dropped 0.1% on Friday . The stock traded as low as $33.70 and last traded at $33.92. Approximately 714,061 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 4,119,408 shares. The stock had previously closed at $33.95.

Analysts Set New Price Targets

Several research analysts have commented on EPD shares. Truist Financial boosted their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Barclays upped their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Royal Bank of Canada reissued an “outperform” rating and set a $37.00 price objective on shares of Enterprise Products Partners in a report on Wednesday. Finally, Morgan Stanley raised their price objective on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 11th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $36.60.

Enterprise Products Partners Price Performance

The company has a market cap of $73.90 billion, a price-to-earnings ratio of 12.69, a PEG ratio of 1.37 and a beta of 1.08. The company’s 50 day moving average price is $33.45 and its 200 day moving average price is $31.67. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. The company had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.72 EPS. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.535 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.27%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is 79.55%.

Hedge Funds Weigh In On Enterprise Products Partners

Institutional investors and hedge funds have recently made changes to their positions in the stock. Truvestments Capital LLC acquired a new position in Enterprise Products Partners during the third quarter worth about $49,000. FMR LLC grew its holdings in shares of Enterprise Products Partners by 9.3% in the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after acquiring an additional 1,225,988 shares during the period. Townsquare Capital LLC raised its holdings in Enterprise Products Partners by 35.0% during the third quarter. Townsquare Capital LLC now owns 23,920 shares of the oil and gas producer’s stock worth $696,000 after purchasing an additional 6,203 shares during the last quarter. Cynosure Group LLC purchased a new stake in Enterprise Products Partners during the third quarter worth $358,000. Finally, Glenmede Trust Co. NA grew its holdings in Enterprise Products Partners by 9.7% in the third quarter. Glenmede Trust Co. NA now owns 735,233 shares of the oil and gas producer’s stock valued at $21,403,000 after purchasing an additional 64,968 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.