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

Enterprise Products Partners L.P. (NYSE:EPD)’s share price fell 1.5% on Thursday . The stock traded as low as $37.26 and last traded at $37.2920. 2,262,194 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 4,489,479 shares. The stock had previously closed at $37.87.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on EPD. JPMorgan Chase & Co. upped their price objective on shares of Enterprise Products Partners from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. TD Cowen reiterated a “hold” rating and set a $38.00 price target (up from $34.00) on shares of Enterprise Products Partners in a report on Thursday, April 16th. Weiss Ratings lowered Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, May 21st. Royal Bank Of Canada upped their price target on Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, March 30th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $39.00 price target on shares of Enterprise Products Partners in a report on Thursday, May 14th. Nine equities 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. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $39.67.

Enterprise Products Partners Price Performance

The stock has a fifty day moving average of $38.02 and a two-hundred day moving average of $35.63. The stock has a market capitalization of $80.62 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 1.33 and a beta of 0.49. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03.

Enterprise Products Partners (NYSE:EPD) last released its quarterly 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 business had revenue of $14.39 billion for the quarter, compared to analyst estimates of $13.62 billion. During the same period in the prior year, the business earned $0.64 earnings per share. The company’s revenue for the quarter was down 6.7% on a year-over-year basis. As a group, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

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

Insider Buying and Selling

In other news, CEO Aj Teague bought 2,665 shares of the business’s stock in a transaction on Friday, March 20th. The shares were bought at an average cost of $37.55 per share, for a total transaction of $100,070.75. Following the completion of the acquisition, the chief executive officer owned 77,576 shares in the company, valued at approximately $2,912,978.80. This trade represents a 3.56% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 32.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in EPD. Miller Howard Investments Inc. NY grew its stake in 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 valued at $99,775,000 after acquiring an additional 31,733 shares during the period. Royal Palms Capital LLC acquired a new stake in Enterprise Products Partners in the 4th quarter valued at $1,830,000. PNC Financial Services Group Inc. grew its stake in Enterprise Products Partners by 3.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,252,088 shares of the oil and gas producer’s stock valued at $39,153,000 after acquiring an additional 36,339 shares during the period. Advisors Asset Management Inc. grew its stake in Enterprise Products Partners by 20.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 229,911 shares of the oil and gas producer’s stock valued at $7,189,000 after acquiring an additional 38,660 shares during the period. Finally, Oxbow Advisors LLC grew its stake in Enterprise Products Partners by 3.0% in the 4th quarter. Oxbow Advisors LLC now owns 1,329,085 shares of the oil and gas producer’s stock valued at $42,610,000 after acquiring an additional 39,052 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Company Profile

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.