Enterprise Products Partners (NYSE:EPD) Trading Down 0.2% - Should You Sell?

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) shares dropped 0.2% during trading on Friday . The stock traded as low as $32.32 and last traded at $32.36. Approximately 1,475,697 shares were traded during trading, a decline of 50% from the average daily volume of 2,960,891 shares. The stock had previously closed at $32.44.

Analysts Set New Price Targets

Several equities research analysts have weighed in on EPD shares. Truist Financial upped their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. Bank of America began coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They issued a "buy" rating and a $35.00 price objective for the company. US Capital Advisors raised shares of Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, October 28th. Scotiabank started coverage on shares of Enterprise Products Partners in a research report on Friday. They issued a "sector perform" rating and a $33.00 price target for the company. Finally, Wells Fargo & Company lowered shares of Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 price objective on the stock. in a report on Wednesday, December 18th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Enterprise Products Partners currently has a consensus rating of "Moderate Buy" and an average price target of $34.60.

Enterprise Products Partners Stock Performance

The firm has a market cap of $69.82 billion, a price-to-earnings ratio of 12.06, a P/E/G ratio of 1.66 and a beta of 1.09. 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 firm has a fifty day simple moving average of $31.72 and a two-hundred day simple moving average of $30.07.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). The company had revenue of $13.78 billion for the quarter, compared to analysts' expectations of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The firm's revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 EPS. On average, analysts expect that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 6.64%. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, January 31st. Enterprise Products Partners's payout ratio is presently 80.15%.

Institutional Investors Weigh In On Enterprise Products Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EPD. Paragon Advisors LLC purchased a new stake in Enterprise Products Partners during the third quarter worth $2,628,000. FMR LLC boosted its stake in shares of Enterprise Products Partners by 9.3% during the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer's stock worth $420,037,000 after acquiring an additional 1,225,988 shares in the last quarter. Peapack Gladstone Financial Corp grew its position in shares of Enterprise Products Partners by 61.7% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer's stock valued at $3,954,000 after acquiring an additional 51,809 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Enterprise Products Partners by 5.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer's stock valued at $118,561,000 after purchasing an additional 200,625 shares in the last quarter. Finally, Brookfield Corp ON raised its holdings in Enterprise Products Partners by 6.2% in the 3rd quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer's stock worth $138,639,000 after purchasing an additional 278,892 shares during the period. 26.07% of the stock is owned by institutional investors and hedge funds.

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.