Enterprise Products Partners (NYSE:EPD) Stock Price Down 1% – Here’s Why
by Tristan Rich · The Markets DailyShares of Enterprise Products Partners L.P. (NYSE:EPD – Get Free Report) dropped 1% during trading on Tuesday . The company traded as low as $36.39 and last traded at $36.7190. Approximately 3,203,754 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 4,903,688 shares. The stock had previously closed at $37.09.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on EPD shares. Raymond James Financial downgraded shares of Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 price target on the stock. in a research note on Monday, January 5th. TD Cowen raised their price objective on shares of Enterprise Products Partners from $33.00 to $34.00 and gave the stock a “hold” rating in a report on Wednesday, February 4th. Stifel Nicolaus upped their target price on shares of Enterprise Products Partners from $38.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Wells Fargo & Company increased their price target on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 5th. Finally, Wolfe Research downgraded Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 price objective on the stock. in a report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $36.57.
Check Out Our Latest Report on Enterprise Products Partners
Enterprise Products Partners Trading Down 1.5%
The business has a 50 day simple moving average of $34.59 and a 200 day simple moving average of $32.69. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.04 and a quick ratio of 0.74. The company has a market cap of $79.24 billion, a price-to-earnings ratio of 13.78, a price-to-earnings-growth ratio of 2.61 and a beta of 0.59.
Enterprise Products Partners (NYSE:EPD – Get Free Report) last announced its earnings results on Monday, February 2nd. The oil and gas producer reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.06. The company had revenue of $13.79 billion during the quarter, compared to analyst estimates of $12.44 billion. Enterprise Products Partners had a return on equity of 19.33% and a net margin of 11.05%.The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period last year, the company posted $0.74 earnings per share. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.
Enterprise Products Partners Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were paid a $0.55 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.20 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend was Friday, January 30th. Enterprise Products Partners’s payout ratio is presently 82.71%.
Insider Activity at Enterprise Products Partners
In related news, Director John R. Rutherford purchased 15,000 shares of the firm’s stock in a transaction dated Monday, December 29th. The shares were acquired at an average cost of $32.09 per share, with a total value of $481,350.00. Following the completion of the purchase, the director directly owned 173,586 shares of the company’s stock, valued at $5,570,374.74. This trade represents a 9.46% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 32.60% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of EPD. Advisortrust Partners LLC acquired a new stake in shares of Enterprise Products Partners in the 4th quarter valued at $261,000. Auto Owners Insurance Co boosted its holdings in Enterprise Products Partners by 3,106.0% in the fourth quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock valued at $102,784,000 after acquiring an additional 31,060,000 shares during the last quarter. Redwood Family Wealth LLC acquired a new stake in Enterprise Products Partners in the fourth quarter worth about $315,000. Mengis Capital Management Inc. bought a new stake in Enterprise Products Partners during the 4th quarter worth about $208,000. Finally, Bayban bought a new stake in Enterprise Products Partners during the 4th quarter worth about $420,000. 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.