Enterprise Products Partners (NYSE:EPD) Stock Price Down 0.3% – Time to Sell?

Enterprise Products Partners L.P. (NYSE:EPD)’s stock price traded down 0.3% during mid-day trading on Friday . The company traded as low as $29.04 and last traded at $29.05. 476,936 shares traded hands during trading, a decline of 89% from the average session volume of 4,284,866 shares. The stock had previously closed at $29.13.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on EPD shares. Bank of America assumed coverage on shares of Enterprise Products Partners in a report on Thursday. They set a “buy” rating and a $35.00 target price on the stock. Royal Bank of Canada lifted their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday. Truist Financial raised their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $33.73.

Enterprise Products Partners Trading Up 0.2 %

The business’s 50 day simple moving average is $29.21 and its two-hundred day simple moving average is $28.97. The stock has a market cap of $63.37 billion, a P/E ratio of 11.44, a PEG ratio of 1.49 and a beta of 1.03. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The firm had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $14.23 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The company’s revenue was up 26.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.57 EPS. As a group, analysts expect that Enterprise Products Partners L.P. will post 2.71 EPS for the current year.

Enterprise Products Partners Dividend Announcement

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 given a dividend of $0.525 per share. The ex-dividend date is Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 7.20%. Enterprise Products Partners’s dividend payout ratio is presently 82.35%.

Hedge Funds Weigh In On Enterprise Products Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. bought a new stake in shares of Enterprise Products Partners in the second quarter worth $25,000. Stephens Consulting LLC bought a new stake in shares of Enterprise Products Partners in the 1st quarter valued at about $29,000. Palisade Asset Management LLC acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at about $29,000. Mascoma Wealth Management LLC bought a new position in shares of Enterprise Products Partners during the second quarter worth about $29,000. Finally, DiNuzzo Private Wealth Inc. lifted its stake in shares of 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 acquiring an additional 1,000 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

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.