Enterprise Products Partners (NYSE:EPD) Trading Down 1.4% – What’s Next?

by · The Markets Daily

Enterprise Products Partners L.P. (NYSE:EPD – Get Free Report)’s share price was down 1.4% during trading on Monday . The stock traded as low as $36.94 and last traded at $37.0380. Approximately 6,387,294 shares were traded during mid-day trading, an increase of 30% from the average daily volume of 4,924,949 shares. The stock had previously closed at $37.57.

Analyst Ratings Changes

Several equities research analysts recently issued reports on EPD shares. TD Cowen increased their price objective on Enterprise Products Partners from $33.00 to $34.00 and gave the stock a “hold” rating in a research note on Wednesday, February 4th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $32.00 price objective on shares of Enterprise Products Partners in a research report on Friday, December 19th. Wells Fargo & Company upped their price objective on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Thursday, February 5th. Wolfe Research cut shares of Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 price target on the stock. in a report on Wednesday, January 14th. Finally, Stifel Nicolaus upped their price target on shares of Enterprise Products Partners from $38.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $36.29.

Read Our Latest Stock Report on Enterprise Products Partners

Enterprise Products Partners Price Performance

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 stock has a market capitalization of $80.07 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 2.67 and a beta of 0.59. The stock’s 50 day simple moving average is $34.29 and its 200-day simple moving average is $32.58.

Enterprise Products Partners (NYSE:EPD – Get Free Report) last announced its quarterly earnings results on Monday, February 2nd. The oil and gas producer reported $0.75 EPS for the quarter, topping the consensus estimate of $0.69 by $0.06. The company had revenue of $13.79 billion for the quarter, compared to analyst estimates of $12.44 billion. Enterprise Products Partners had a net margin of 11.05% and a return on equity of 19.33%. Enterprise Products Partners’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.74 EPS. On average, analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were paid a dividend of $0.55 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date was Friday, January 30th. This represents a $2.20 annualized dividend and a dividend yield of 5.9%. Enterprise Products Partners’s dividend payout ratio is currently 82.71%.

Insider Activity at Enterprise Products Partners

In related news, Director John R. Rutherford acquired 15,000 shares of the stock in a transaction dated Monday, December 29th. The shares were acquired at an average price of $32.09 per share, with a total value of $481,350.00. Following the acquisition, the director owned 173,586 shares in the company, valued at approximately $5,570,374.74. The trade was a 9.46% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 32.60% of the company’s stock.

Hedge Funds Weigh In On Enterprise Products Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tred Avon Family Wealth LLC bought a new stake in Enterprise Products Partners during the 3rd quarter valued at approximately $1,015,000. Tectonic Advisors LLC increased its position in Enterprise Products Partners by 10.0% in the 3rd quarter. Tectonic Advisors LLC now owns 678,769 shares of the oil and gas producer’s stock worth $21,225,000 after buying an additional 61,669 shares during the period. Westbourne Investment Advisors Inc. acquired a new position in shares of Enterprise Products Partners during the second quarter worth approximately $657,000. Advisors Asset Management Inc. boosted its position in shares of Enterprise Products Partners by 20.2% in the third 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, PNC Financial Services Group Inc. boosted its position in shares of Enterprise Products Partners by 3.0% in the third 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. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Company Profile

(Get Free Report)

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.

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