Enterprise Products Partners (NYSE:EPD) Shares Down 3.2% – Should You Sell?

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price fell 3.2% during trading on Tuesday . The company traded as low as $38.30 and last traded at $38.36. 4,239,710 shares traded hands during mid-day trading, a decline of 10% from the average session volume of 4,709,773 shares. The stock had previously closed at $39.63.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. 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 research note on Thursday, April 16th. The Goldman Sachs Group reiterated a “neutral” rating and set a $39.00 price target on shares of Enterprise Products Partners in a research note on Thursday, May 14th. Barclays lifted their price target on shares of Enterprise Products Partners from $38.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, March 5th. Jefferies Financial Group lifted their price target 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. Finally, JPMorgan Chase & Co. lifted their price target on shares of Enterprise Products Partners from $40.00 to $41.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. Nine equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus 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 $38.15 and a 200-day moving average of $35.25. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $80.97 billion, a P/E ratio of 13.87, a PEG ratio of 1.40 and a beta of 0.52.

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 (EPS) 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 during the quarter, compared to the consensus estimate of $13.62 billion. During the same period in the prior year, the firm earned $0.64 earnings per share. The business’s quarterly revenue was down 6.7% compared to the same quarter last year. Equities analysts predict that Enterprise Products Partners L.P. will post 2.98 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend 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 Activity

In other Enterprise Products Partners news, CEO Aj Teague purchased 2,665 shares of the business’s stock in a transaction that occurred on Friday, March 20th. The stock was acquired at an average cost of $37.55 per share, with a total value of $100,070.75. Following the completion of the acquisition, the chief executive officer directly owned 77,576 shares of the company’s stock, valued at $2,912,978.80. This represents a 3.56% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 32.60% of the stock is owned by corporate insiders.

Institutional Trading of Enterprise Products Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in EPD. Auto Owners Insurance Co raised its holdings in Enterprise Products Partners by 3,106.0% during 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 purchasing an additional 31,060,000 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in shares of Enterprise Products Partners in the 3rd quarter valued at $292,194,000. Goldman Sachs Group Inc. lifted its stake in shares of Enterprise Products Partners by 12.0% in the 4th 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 purchasing an additional 1,940,583 shares during the period. Corient Private Wealth LLC lifted its stake in shares of Enterprise Products Partners by 119.4% in the 2nd quarter. Corient Private Wealth LLC now owns 2,414,035 shares of the oil and gas producer’s stock valued at $74,859,000 after purchasing an additional 1,313,976 shares during the period. Finally, Barclays PLC lifted its stake in shares of Enterprise Products Partners by 57.5% in the 4th quarter. Barclays PLC now owns 2,928,068 shares of the oil and gas producer’s stock valued at $93,874,000 after purchasing an additional 1,069,304 shares during the period. 26.07% of the stock is owned by 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.