Enterprise Products Partners (NYSE:EPD) Shares Down 0.2% – Time to Sell?

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price fell 0.2% during mid-day trading on Wednesday . The stock traded as low as $33.88 and last traded at $34.03. 1,636,445 shares were traded during trading, a decline of 57% from the average session volume of 3,808,284 shares. The stock had previously closed at $34.09.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on EPD. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Truist Financial raised their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a report on Wednesday, December 18th. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Finally, Bank of America assumed coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $34.60.

Enterprise Products Partners Price Performance

The stock has a market cap of $72.81 billion, a P/E ratio of 12.58, a PEG ratio of 1.60 and a beta of 1.09. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The firm’s fifty day moving average price is $32.33 and its 200-day moving average price is $30.36.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The business had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.60 EPS. Analysts forecast that Enterprise Products Partners L.P. will post 2.67 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a dividend of $0.535 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.37%. Enterprise Products Partners’s payout ratio is presently 78.65%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of institutional investors have recently bought and sold shares of EPD. Rosenberg Matthew Hamilton grew its holdings in shares of Enterprise Products Partners by 364.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 656 shares during the period. DiNuzzo Private Wealth Inc. grew its stake in 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 worth $32,000 after purchasing an additional 1,000 shares during the period. Assetmark Inc. raised its holdings in Enterprise Products Partners by 19,800.0% in the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after purchasing an additional 1,188 shares in the last quarter. Sanctuary Wealth Management L.L.C. bought a new stake in shares of Enterprise Products Partners during the 3rd quarter valued at $36,000. Finally, Bangor Savings Bank grew its position in shares of Enterprise Products Partners by 558.3% in the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after buying an additional 1,072 shares during the period. 26.07% of the stock is owned by 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.