Enterprise Products Partners (NYSE:EPD) Trading Down 0.2%

Enterprise Products Partners L.P. (NYSE:EPD) shares fell 0.2% during mid-day trading on Wednesday . The company traded as low as $28.27 and last traded at $28.30. 2,436,316 shares were traded during mid-day trading, a decline of 15% from the average session volume of 2,866,554 shares. The stock had previously closed at $28.37.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on EPD. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 target price on shares of Enterprise Products Partners in a research note on Friday, April 5th. StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 4th. Barclays boosted their price objective on Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. JPMorgan Chase & Co. reduced their target price on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Thursday, May 16th. Finally, Scotiabank boosted their target price on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $32.77.

Enterprise Products Partners Price Performance

The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99. The firm’s 50-day moving average price is $28.48 and its two-hundred day moving average price is $27.77. The stock has a market cap of $62.08 billion, a PE ratio of 11.21, a PEG ratio of 1.31 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. The company had revenue of $14.76 billion during the quarter, compared to analyst estimates of $13.82 billion. During the same quarter in the prior year, the business earned $0.64 earnings per share. Enterprise Products Partners’s revenue was up 18.6% on a year-over-year basis. On average, equities analysts expect that Enterprise Products Partners L.P. will post 2.73 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th were paid a $0.515 dividend. The ex-dividend date was Monday, April 29th. This represents a $2.06 annualized dividend and a yield of 7.21%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.78%.

Institutional Trading of Enterprise Products Partners

Hedge funds have recently modified their holdings of the company. Cadence Bank boosted its stake in Enterprise Products Partners by 0.7% in the first quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock valued at $1,530,000 after acquiring an additional 365 shares in the last quarter. Hazlett Burt & Watson Inc. increased its holdings in shares of Enterprise Products Partners by 8.2% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 4,897 shares of the oil and gas producer’s stock valued at $128,000 after acquiring an additional 371 shares in the last quarter. Ellsworth Advisors LLC raised its position in shares of Enterprise Products Partners by 1.9% in the 4th quarter. Ellsworth Advisors LLC now owns 21,173 shares of the oil and gas producer’s stock valued at $558,000 after purchasing an additional 393 shares during the last quarter. Register Financial Advisors LLC boosted its stake in Enterprise Products Partners by 2.3% in the 4th quarter. Register Financial Advisors LLC now owns 17,320 shares of the oil and gas producer’s stock worth $456,000 after purchasing an additional 397 shares in the last quarter. Finally, Mosaic Family Wealth Partners LLC grew its position in Enterprise Products Partners by 1.1% during the 1st quarter. Mosaic Family Wealth Partners LLC now owns 36,460 shares of the oil and gas producer’s stock worth $1,064,000 after purchasing an additional 407 shares during the last quarter. 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.