Enterprise Products Partners (NYSE:EPD) Trading Down 0.6%

Enterprise Products Partners L.P. (NYSE:EPD)’s share price dropped 0.6% on Thursday . The stock traded as low as $28.66 and last traded at $28.68. Approximately 1,096,224 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 4,447,639 shares. The stock had previously closed at $28.86.

Analyst Ratings Changes

EPD has been the topic of a number of research reports. Wells Fargo & Company raised their price target on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. cut their target price on shares of Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Thursday, May 16th. StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 4th. Royal Bank of Canada restated an “outperform” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a research note on Friday, April 5th. Finally, Mizuho reiterated a “buy” rating and set a $34.00 target price on shares of Enterprise Products Partners in a research note on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Buy” and an average price target of $32.92.

Enterprise Products Partners Stock Down 1.0 %

The firm’s 50-day simple moving average is $28.91 and its two-hundred day simple moving average is $28.37. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.93 and a quick ratio of 0.68. The company has a market capitalization of $62.04 billion, a price-to-earnings ratio of 11.25, a price-to-earnings-growth ratio of 1.38 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.02). The firm had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.18%. The business’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.57 earnings per share. Sell-side analysts predict that Enterprise Products Partners L.P. will post 2.72 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be issued a dividend of $0.525 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a yield of 7.35%. The ex-dividend date of this dividend is Wednesday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 80.78%.

Institutional Trading of Enterprise Products Partners

Several institutional investors and hedge funds have recently modified their holdings of the business. Canal Insurance CO boosted its stake in shares of Enterprise Products Partners by 50.0% during the 2nd quarter. Canal Insurance CO now owns 150,000 shares of the oil and gas producer’s stock worth $4,347,000 after purchasing an additional 50,000 shares during the last quarter. Financial Counselors Inc. boosted its position in Enterprise Products Partners by 2.0% during the second quarter. Financial Counselors Inc. now owns 31,972 shares of the oil and gas producer’s stock worth $927,000 after acquiring an additional 624 shares during the last quarter. Natixis Advisors LLC raised its holdings in Enterprise Products Partners by 48.4% in the 2nd quarter. Natixis Advisors LLC now owns 18,048 shares of the oil and gas producer’s stock valued at $523,000 after acquiring an additional 5,887 shares during the last quarter. GraniteShares Advisors LLC lifted its stake in shares of Enterprise Products Partners by 14.3% during the 2nd quarter. GraniteShares Advisors LLC now owns 73,420 shares of the oil and gas producer’s stock worth $2,128,000 after purchasing an additional 9,158 shares during the period. Finally, Waterfront Wealth Inc. boosted its holdings in shares of Enterprise Products Partners by 1.4% during the second quarter. Waterfront Wealth Inc. now owns 36,699 shares of the oil and gas producer’s stock worth $1,064,000 after purchasing an additional 495 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

About Enterprise Products Partners

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.