Enterprise Products Partners (NYSE:EPD) Stock Price Down 0.1% – Here’s Why

by · The Cerbat Gem

Shares of Enterprise Products Partners L.P. (NYSE:EPD – Get Free Report) were down 0.1% on Monday . The stock traded as low as $29.11 and last traded at $29.14. Approximately 615,486 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 4,283,392 shares. The stock had previously closed at $29.18.

Analysts Set New Price Targets

A number of research firms have commented on EPD. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Truist Financial upped their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Bank of America initiated coverage on Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target on the stock. Finally, Royal Bank of Canada lifted their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $33.73.

Read Our Latest Stock Report on EPD

Enterprise Products Partners Price Performance

The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68. The stock has a market capitalization of $62.91 billion, a price-to-earnings ratio of 11.31, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. The stock has a 50 day moving average price of $29.24 and a 200-day moving average price of $28.95.

Enterprise Products Partners (NYSE:EPD – Get Free Report) last posted its quarterly earnings results 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). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The company had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. During the same period in the prior year, the business posted $0.57 EPS. Enterprise Products Partners’s revenue for the quarter was up 26.6% compared to the same quarter last year. On average, analysts forecast that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be issued a $0.525 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 7.25%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.35%.

Institutional Trading of Enterprise Products Partners

Several hedge funds have recently modified their holdings of EPD. Hantz Financial Services Inc. purchased a new stake in Enterprise Products Partners in the 2nd quarter valued at $25,000. Stephens Consulting LLC acquired a new position in shares of Enterprise Products Partners in the first quarter valued at approximately $29,000. Palisade Asset Management LLC acquired a new stake in shares of Enterprise Products Partners during the first quarter worth $29,000. Mascoma Wealth Management LLC purchased a new position in Enterprise Products Partners during the 2nd quarter worth $29,000. Finally, DiNuzzo Private Wealth Inc. boosted its holdings in shares of Enterprise Products Partners by 1,000.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after acquiring an additional 1,000 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Company Profile

(Get Free Report)

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.

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