Enterprise Products Partners (NYSE:EPD) Stock Price Down 1.5% – Here’s What Happened

Enterprise Products Partners L.P. (NYSE:EPD)’s share price was down 1.5% during mid-day trading on Monday . The company traded as low as $38.07 and last traded at $38.1450. Approximately 4,138,164 shares traded hands during trading, a decline of 0% from the average session volume of 4,154,980 shares. The stock had previously closed at $38.73.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on EPD shares. Royal Bank Of Canada lifted their price objective on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, March 30th. Jefferies Financial Group increased their target price on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the stock a “hold” rating in a research note on Tuesday, March 31st. Wall Street Zen cut shares of Enterprise Products Partners from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Citigroup reaffirmed a “buy” rating and issued a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Finally, TD Cowen reiterated a “hold” rating and set a $38.00 price objective (up from $34.00) on shares of Enterprise Products Partners in a report on Thursday, April 16th. Eight research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Hold” and a consensus target price of $39.93.

Enterprise Products Partners Stock Down 1.5%

The company has a market cap of $82.46 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 1.41 and a beta of 0.49. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. The stock’s fifty day moving average is $37.67 and its two-hundred day moving average is $36.77.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The company had revenue of $14.39 billion during the quarter, compared to the consensus estimate of $13.62 billion. During the same quarter in the prior year, the business earned $0.64 EPS. The firm’s revenue for the quarter was down 6.7% compared to the same quarter last year. Sell-side analysts predict that Enterprise Products Partners L.P. will post 2.93 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 Friday, August 14th. Shareholders of record on Friday, July 31st will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend is Friday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s payout ratio is currently 81.48%.

Hedge Funds Weigh In On Enterprise Products Partners

Several hedge funds have recently modified their holdings of EPD. Miller Howard Investments Inc. NY boosted its holdings in shares of Enterprise Products Partners by 1.0% in the 4th quarter. Miller Howard Investments Inc. NY now owns 3,112,119 shares of the oil and gas producer’s stock worth $99,775,000 after buying an additional 31,733 shares during the last quarter. Royal Palms Capital LLC purchased a new stake in Enterprise Products Partners during the fourth quarter worth about $1,830,000. Texas Yale Capital Corp. raised its position in Enterprise Products Partners by 4.9% in the fourth quarter. Texas Yale Capital Corp. now owns 1,905,939 shares of the oil and gas producer’s stock worth $61,104,000 after acquiring an additional 88,475 shares during the period. Oxbow Advisors LLC raised its position in Enterprise Products Partners by 3.0% in the fourth quarter. Oxbow Advisors LLC now owns 1,329,085 shares of the oil and gas producer’s stock worth $42,610,000 after acquiring an additional 39,052 shares during the period. Finally, Thrivent Financial for Lutherans boosted its stake in Enterprise Products Partners by 7.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 4,510,036 shares of the oil and gas producer’s stock valued at $144,592,000 after acquiring an additional 327,807 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

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.