Enterprise Products Partners (NYSE:EPD) Trading Down 1.5% – Here’s Why

Enterprise Products Partners L.P. (NYSE:EPD) dropped 1.5% on Friday . The company traded as low as $37.15 and last traded at $37.1740. Approximately 5,204,590 shares were traded during mid-day trading, an increase of 10% from the average daily volume of 4,742,582 shares. The stock had previously closed at $37.73.

Wall Street Analyst Weigh In

EPD has been the subject of a number of research analyst reports. Wolfe Research upgraded Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Jefferies Financial Group increased their target price on Enterprise Products Partners from $34.00 to $40.00 and gave the company a “hold” rating in a research note on Tuesday, March 31st. Truist Financial raised their price target on Enterprise Products Partners from $36.00 to $40.00 and gave the company a “hold” rating in a research report on Monday. UBS Group reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research note on Wednesday, March 4th. Finally, Scotiabank upped their price objective on Enterprise Products Partners from $37.00 to $39.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 17th. Nine research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Enterprise Products Partners has a consensus rating of “Hold” and a consensus price target of $38.93.

Enterprise Products Partners Trading Down 1.5%

The stock has a market capitalization of $80.36 billion, a P/E ratio of 13.77, a price-to-earnings-growth ratio of 1.41 and a beta of 0.52. The stock’s fifty day moving average price is $37.61 and its two-hundred day moving average price is $34.43. The company has a current ratio of 1.04, a quick ratio of 0.74 and a debt-to-equity ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.03). The business had revenue of $14.39 billion for the quarter, compared to the consensus estimate of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.56%. Enterprise Products Partners’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 EPS. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.92 EPS for the current year.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Investors of record on Thursday, April 30th will be issued a dividend of $0.55 per share. The ex-dividend date is Thursday, April 30th. This represents a $2.20 annualized dividend and a yield of 5.9%. Enterprise Products Partners’s dividend payout ratio is currently 81.48%.

Insider Transactions at Enterprise Products Partners

In related news, CEO Aj Teague purchased 2,665 shares of the firm’s stock in a transaction on Friday, March 20th. The shares were acquired at an average cost of $37.55 per share, with a total value of $100,070.75. Following the purchase, the chief executive officer directly owned 77,576 shares of the company’s stock, valued at approximately $2,912,978.80. This trade represents a 3.56% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 32.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Alps Advisors Inc. raised its holdings in Enterprise Products Partners by 0.6% during the 4th quarter. Alps Advisors Inc. now owns 42,639,131 shares of the oil and gas producer’s stock valued at $1,367,011,000 after buying an additional 260,305 shares during the last quarter. Auto Owners Insurance Co grew its holdings in Enterprise Products Partners by 3,106.0% in the 4th quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock worth $102,784,000 after acquiring an additional 31,060,000 shares during the last quarter. Morgan Stanley increased its position in shares of Enterprise Products Partners by 4.8% in the fourth quarter. Morgan Stanley now owns 19,116,333 shares of the oil and gas producer’s stock valued at $612,870,000 after acquiring an additional 883,983 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Enterprise Products Partners by 12.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock valued at $582,317,000 after acquiring an additional 1,940,583 shares during the last quarter. Finally, Energy Income Partners LLC raised its stake in shares of Enterprise Products Partners by 0.6% during the third quarter. Energy Income Partners LLC now owns 14,705,122 shares of the oil and gas producer’s stock valued at $459,829,000 after acquiring an additional 80,884 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.