Enterprise Products Partners (NYSE:EPD) Stock Price Down 0.6%

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price dropped 0.6% during mid-day trading on Wednesday . The stock traded as low as $28.24 and last traded at $28.33. Approximately 6,359,680 shares changed hands during trading, an increase of 44% from the average daily volume of 4,421,131 shares. The stock had previously closed at $28.51.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on EPD shares. Scotiabank raised their price objective on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 4th. Mizuho restated a “buy” rating and set a $34.00 price objective on shares of Enterprise Products Partners in a research report on Thursday, April 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 target price on shares of Enterprise Products Partners in a report on Friday, April 5th. Stifel Nicolaus raised their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Wells Fargo & Company upped their price objective 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. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $32.58.

Enterprise Products Partners Price Performance

The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.68. The firm’s 50-day moving average is $28.22 and its two-hundred day moving average is $27.24. The company has a market cap of $61.43 billion, a P/E ratio of 11.24 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. The firm had revenue of $14.62 billion during the quarter, compared to the consensus estimate of $12.43 billion. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.65 EPS. Analysts anticipate that Enterprise Products Partners L.P. will post 2.62 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 7.27%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.75%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of large investors have recently made changes to their positions in EPD. Fairfield Bush & CO. purchased a new position in shares of Enterprise Products Partners during the second quarter valued at approximately $26,000. Pacific Center for Financial Services purchased a new stake in Enterprise Products Partners in the 1st quarter valued at about $27,000. Burkett Financial Services LLC bought a new position in Enterprise Products Partners in the fourth quarter worth approximately $28,000. Financial Freedom LLC purchased a new position in shares of Enterprise Products Partners in the 4th quarter valued at $38,000. Finally, Rational Advisors LLC bought a new position in shares of Enterprise Products Partners in the 3rd quarter worth $43,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

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.