Enterprise Products Partners (NYSE:EPD) Shares Down 0.1% – What’s Next?

Enterprise Products Partners L.P. (NYSE:EPD) dropped 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

EPD has been the subject of several research reports. Truist Financial lifted their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. 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 report on Wednesday, October 16th. Finally, Bank of America assumed coverage on Enterprise Products Partners in a research report on Thursday. They issued a “buy” rating and a $35.00 target price for the company. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $33.73.

Enterprise Products Partners Stock Down 0.3 %

The firm has a 50 day moving average price of $29.21 and a 200-day moving average price of $28.96. The firm has a market cap of $63.17 billion, a PE ratio of 11.43, a PEG ratio of 1.49 and a beta of 1.03. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results 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 business had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $14.23 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. Enterprise Products Partners’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.57 EPS. Research analysts forecast that Enterprise Products Partners L.P. will post 2.71 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 7.22%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s payout ratio is 82.35%.

Institutional Investors Weigh In On Enterprise Products Partners

Several institutional investors have recently added to or reduced their stakes in the business. Violich Capital Management Inc. lifted its stake in Enterprise Products Partners by 3.3% during the third quarter. Violich Capital Management Inc. now owns 18,550 shares of the oil and gas producer’s stock worth $540,000 after purchasing an additional 600 shares during the last quarter. CNB Bank boosted its holdings in shares of Enterprise Products Partners by 534.8% in the third quarter. CNB Bank now owns 3,561 shares of the oil and gas producer’s stock valued at $104,000 after acquiring an additional 3,000 shares during the period. Veracity Capital LLC boosted its holdings in shares of Enterprise Products Partners by 1.5% in the third quarter. Veracity Capital LLC now owns 39,656 shares of the oil and gas producer’s stock valued at $1,154,000 after acquiring an additional 605 shares during the period. Wealth Alliance Advisory Group LLC boosted its holdings in shares of Enterprise Products Partners by 7.3% in the third quarter. Wealth Alliance Advisory Group LLC now owns 15,097 shares of the oil and gas producer’s stock valued at $439,000 after acquiring an additional 1,030 shares during the period. Finally, Everett Harris & Co. CA boosted its holdings in shares of Enterprise Products Partners by 9.5% in the third quarter. Everett Harris & Co. CA now owns 80,939 shares of the oil and gas producer’s stock valued at $2,356,000 after acquiring an additional 7,050 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Company Profile

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.