Enterprise Products Partners (NYSE:EPD) Shares Down 1.7%

Enterprise Products Partners L.P. (NYSE:EPD)’s share price traded down 1.7% during mid-day trading on Tuesday . The company traded as low as $28.81 and last traded at $28.83. 826,504 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 4,533,372 shares. The stock had previously closed at $29.34.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Morgan Stanley decreased their target price on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Monday, June 10th. JPMorgan Chase & Co. decreased their target price on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Thursday, May 16th. Finally, Truist Financial lifted their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $33.08.

Enterprise Products Partners Stock Performance

The stock has a market cap of $63.05 billion, a P/E ratio of 11.42, a P/E/G ratio of 1.50 and a beta of 1.03. The company has a fifty day moving average price of $29.18 and a 200 day moving average price of $28.75. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.02). The firm had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The company’s revenue was up 26.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.57 EPS. On average, equities analysts expect that Enterprise Products Partners L.P. will post 2.72 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were issued a dividend of $0.525 per share. The ex-dividend date was Wednesday, July 31st. This represents a $2.10 annualized dividend and a yield of 7.23%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s dividend payout ratio is 82.35%.

Institutional Investors Weigh In On Enterprise Products Partners

Several institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp grew its stake in Enterprise Products Partners by 3.2% in the 4th quarter. Van ECK Associates Corp now owns 92,145 shares of the oil and gas producer’s stock valued at $2,428,000 after purchasing an additional 2,881 shares during the period. Natixis Advisors L.P. bought a new position in Enterprise Products Partners in the 4th quarter valued at $314,000. Aveo Capital Partners LLC grew its stake in Enterprise Products Partners by 1.3% in the 4th quarter. Aveo Capital Partners LLC now owns 55,566 shares of the oil and gas producer’s stock valued at $1,464,000 after purchasing an additional 716 shares during the period. Wealthcare Advisory Partners LLC bought a new position in Enterprise Products Partners in the 4th quarter valued at $293,000. Finally, Private Advisor Group LLC grew its stake in Enterprise Products Partners by 6.4% in the 4th quarter. Private Advisor Group LLC now owns 323,292 shares of the oil and gas producer’s stock valued at $8,519,000 after purchasing an additional 19,544 shares during the period. Institutional investors own 26.07% of the company’s stock.

About Enterprise Products Partners

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.