Enterprise Products Partners (NYSE:EPD) Trading Down 1.4% – Here’s Why
by Doug Wharley · The Cerbat GemEnterprise Products Partners L.P. (NYSE:EPD – Get Free Report)’s share price traded down 1.4% during mid-day trading on Thursday . The stock traded as low as $37.31 and last traded at $37.4570. 3,423,143 shares were traded during trading, a decline of 27% from the average session volume of 4,689,302 shares. The stock had previously closed at $37.99.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on the stock. 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. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $39.00 price target on shares of Enterprise Products Partners in a research note on Thursday, May 14th. Stifel Nicolaus lifted their price target on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Truist Financial lifted their price target on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a research note on Monday, May 4th. Finally, Citigroup reissued a “buy” rating and issued a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. Nine investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Enterprise Products Partners currently has a consensus rating of “Hold” and an average price target of $39.67.
View Our Latest Research Report on EPD
Enterprise Products Partners Price Performance
The company’s 50-day moving average price is $38.15 and its two-hundred day moving average price is $35.26. The company has a market cap of $79.55 billion, a P/E ratio of 13.63, a P/E/G ratio of 1.34 and a beta of 0.52. 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 – Get Free Report) last released its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.03). The company had revenue of $14.39 billion during the quarter, compared to the consensus estimate of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.Enterprise Products Partners’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 EPS. As a group, sell-side analysts expect 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 declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were issued a $0.55 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $2.20 annualized dividend and a dividend yield of 6.0%. Enterprise Products Partners’s payout ratio is 81.48%.
Insider Activity at Enterprise Products Partners
In other Enterprise Products Partners news, CEO Aj Teague purchased 2,665 shares of the firm’s stock in a transaction dated 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 acquisition, the chief executive officer owned 77,576 shares of the company’s stock, valued at approximately $2,912,978.80. This represents a 3.56% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 32.60% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of EPD. Auto Owners Insurance Co grew its stake 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 buying an additional 31,060,000 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in shares of Enterprise Products Partners during the third quarter valued at $292,194,000. Goldman Sachs Group Inc. grew its position in shares of Enterprise Products Partners by 12.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock worth $582,317,000 after acquiring an additional 1,940,583 shares during the last quarter. Corient Private Wealth LLC grew its position in shares of Enterprise Products Partners by 119.4% during the second quarter. Corient Private Wealth LLC now owns 2,414,035 shares of the oil and gas producer’s stock worth $74,859,000 after acquiring an additional 1,313,976 shares during the last quarter. Finally, Barclays PLC grew its position in shares of Enterprise Products Partners by 57.5% during the fourth quarter. Barclays PLC now owns 2,928,068 shares of the oil and gas producer’s stock worth $93,874,000 after acquiring an additional 1,069,304 shares during the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.
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.