Enterprise Products Partners (NYSE:EPD) Trading Down 1.4% – Here’s What Happened

Enterprise Products Partners L.P. (NYSE:EPD)’s share price traded down 1.4% during trading on Wednesday . The company traded as low as $37.47 and last traded at $37.4840. 2,817,843 shares were traded during trading, a decline of 27% from the average session volume of 3,883,063 shares. The stock had previously closed at $38.01.

More Enterprise Products Partners News

Here are the key news stories impacting Enterprise Products Partners this week:

• Positive Sentiment: Seeking Alpha described EPD as still undervalued, citing the partnership’s reliable growth profile. The thesis could support investor interest in the stock’s valuation and income potential. Enterprise Products Partners: Still Undervalued, With Reliable Growth
• Positive Sentiment: RBC said export demand and Permian Basin growth are supporting EPD, while pricing and volumes position the company for another solid quarter. These trends are constructive for earnings and cash flow. Enterprise Products Partners Seen Supported by Export Demand, Permian Growth, RBC Says
• Positive Sentiment: Royal Bank of Canada reaffirmed its “outperform” rating and set a $42 price target, implying approximately 12% upside from the cited share price. RBC Reaffirms Enterprise Products Partners Rating
• Neutral Sentiment: Capital One initiated coverage with an “equal weight” rating and a $42 target, indicating valuation upside but a broadly balanced risk-reward view. Capital One Initiates Enterprise Products Partners at Equalweight
• Neutral Sentiment: Melius Research began coverage with a “hold” rating and a $42 price target, also pointing to potential appreciation but withholding a bullish recommendation. Melius Research Coverage
• Negative Sentiment: Rising interest rates remain a concern for income-focused midstream investors because they can increase financing costs and make yield-oriented investments less attractive, despite the sector’s contractual cash-flow defenses. How Midstream Defends Against Rising Interest Rates

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on EPD. UBS Group reaffirmed a “buy” rating and issued a $45.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Capital One Financial initiated coverage on shares of Enterprise Products Partners in a research report on Tuesday. They set an “equal weight” rating and a $42.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Morgan Stanley restated an “underweight” rating and set a $41.00 price objective (up from $40.00) on shares of Enterprise Products Partners in a research report on Tuesday, August 18th. Finally, TD Cowen reaffirmed a “hold” rating and set a $38.00 target price (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $40.12.

Enterprise Products Partners Trading Down 1.4%

The company has a market cap of $80.95 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 1.41 and a beta of 0.50. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 1.00. The business has a 50-day simple moving average of $38.52 and a 200-day simple moving average of $37.98.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, topping the consensus estimate of $0.75 by $0.09. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The business had revenue of $18.27 billion during the quarter, compared to analyst estimates of $13.69 billion. During the same period last year, the business posted $0.66 earnings per share. The company’s quarterly revenue was up 60.8% on a year-over-year basis. On average, analysts predict that Enterprise Products Partners L.P. will post 3.03 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a dividend of $0.56 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date was Friday, July 31st. This represents a $2.24 dividend on an annualized basis and a yield of 6.0%. Enterprise Products Partners’s dividend payout ratio (DPR) is 77.78%.

Institutional Trading of Enterprise Products Partners

Institutional investors and hedge funds have recently bought and sold shares of the business. Security National Bank of Sioux City Iowa IA acquired a new position in shares of Enterprise Products Partners in the second quarter valued at approximately $67,000. Anchor Investment Management LLC increased its stake in Enterprise Products Partners by 13.5% during the 2nd quarter. Anchor Investment Management LLC now owns 42,150 shares of the oil and gas producer’s stock worth $1,549,000 after buying an additional 5,004 shares during the period. Core Capital Management & Research inc. acquired a new stake in Enterprise Products Partners during the 2nd quarter worth approximately $4,393,000. Sequoia Financial Advisors LLC boosted its position in Enterprise Products Partners by 1.9% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 66,928 shares of the oil and gas producer’s stock valued at $2,460,000 after buying an additional 1,228 shares during the period. Finally, Tidal Investments LLC boosted its position in Enterprise Products Partners by 95.7% in the 2nd quarter. Tidal Investments LLC now owns 118,324 shares of the oil and gas producer’s stock valued at $4,350,000 after buying an additional 57,860 shares during the period. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a publicly traded midstream energy partnership that provides transportation, storage, processing and export services for crude oil, natural gas, natural gas liquids (NGLs), petrochemicals and refined products. The company operates an integrated network of pipelines, processing plants, fractionation facilities, storage assets and marine terminals.

Enterprise’s NGL operations include natural gas processing, NGL fractionation and the production and distribution of ethane, propane, butanes and natural gasoline.