Enterprise Products Partners (NYSE:EPD) Shares Down 1.5% - What's Next?

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) shares were down 1.5% on Tuesday . The stock traded as low as $33.05 and last traded at $33.22. Approximately 1,662,088 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 4,776,636 shares. The stock had previously closed at $33.73.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on EPD shares. Wells Fargo & Company downgraded 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 research note on Wednesday, December 18th. Scotiabank raised their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a "sector perform" rating in a report on Thursday. Citigroup restated a "buy" rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Wolfe Research lowered shares of Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 10th. Finally, Truist Financial raised their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Enterprise Products Partners has an average rating of "Moderate Buy" and a consensus target price of $34.90.

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Enterprise Products Partners Stock Up 2.1 %

The business's 50 day moving average is $33.06 and its 200-day moving average is $31.24. The stock has a market cap of $72.40 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 1.37 and a beta of 1.08. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The company had revenue of $14.20 billion for the quarter, compared to analysts' expectations of $14.07 billion. During the same quarter in the previous year, the company posted $0.72 EPS. The firm's quarterly revenue was down 2.9% on a year-over-year basis. On average, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.535 dividend. The ex-dividend date was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.40%. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.53. Enterprise Products Partners's dividend payout ratio is currently 79.55%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of hedge funds have recently modified their holdings of EPD. Rosenberg Matthew Hamilton grew its holdings in shares of Enterprise Products Partners by 364.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer's stock valued at $26,000 after purchasing an additional 656 shares during the period. Tidemark LLC grew its holdings in shares of Enterprise Products Partners by 54.3% in the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer's stock valued at $28,000 after purchasing an additional 318 shares during the period. Lee Danner & Bass Inc. purchased a new stake in shares of Enterprise Products Partners in the fourth quarter valued at about $29,000. Crowley Wealth Management Inc. purchased a new stake in shares of Enterprise Products Partners in the fourth quarter valued at about $30,000. Finally, National Bank of Canada FI grew its holdings in shares of Enterprise Products Partners by 55.4% in the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer's stock valued at $32,000 after purchasing an additional 360 shares during the period. Hedge funds and other institutional investors own 26.07% of the company's stock.

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.