Enterprise Products Partners (NYSE:EPD) Stock Price Down 0.5% – Time to Sell?

Enterprise Products Partners L.P. (NYSE:EPD) shares dropped 0.5% during trading on Monday . The company traded as low as $30.79 and last traded at $30.92. Approximately 795,876 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 4,274,725 shares. The stock had previously closed at $31.07.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on EPD. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a report on Wednesday, December 18th. Bank of America began coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective for the company. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners has a consensus rating of “Moderate Buy” and an average price target of $34.20.

Enterprise Products Partners Stock Up 0.5 %

The stock has a 50-day moving average of $31.15 and a 200 day moving average of $29.86. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The company has a market cap of $67.65 billion, a P/E ratio of 11.69, a PEG ratio of 1.67 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). The business had revenue of $13.78 billion during 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 quarter in the previous year, the business posted $0.60 EPS. Research analysts anticipate that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 6.73%. The ex-dividend date of this dividend was Thursday, October 31st. Enterprise Products Partners’s payout ratio is 78.65%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Curi RMB Capital LLC increased its holdings in Enterprise Products Partners by 0.5% in the 3rd quarter. Curi RMB Capital LLC now owns 73,828 shares of the oil and gas producer’s stock worth $2,149,000 after purchasing an additional 339 shares in the last quarter. Zega Financial LLC boosted its position in Enterprise Products Partners by 1.7% during the 3rd quarter. Zega Financial LLC now owns 20,870 shares of the oil and gas producer’s stock worth $608,000 after buying an additional 344 shares during the period. Tranquility Partners LLC increased its position in Enterprise Products Partners by 1.5% in the 3rd quarter. Tranquility Partners LLC now owns 23,204 shares of the oil and gas producer’s stock valued at $675,000 after acquiring an additional 346 shares during the period. Princeton Global Asset Management LLC raised its stake in shares of Enterprise Products Partners by 4.9% during the third quarter. Princeton Global Asset Management LLC now owns 7,510 shares of the oil and gas producer’s stock valued at $219,000 after acquiring an additional 350 shares during the last quarter. Finally, Strategic Wealth Partners Ltd. grew its stake in shares of Enterprise Products Partners by 3.8% in the third quarter. Strategic Wealth Partners Ltd. now owns 9,731 shares of the oil and gas producer’s stock worth $283,000 after purchasing an additional 353 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

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.