Enterprise Products Partners (NYSE:EPD) Stock Price Down 4.1% - Here's Why

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) shares dropped 4.1% on Monday . The stock traded as low as $27.77 and last traded at $29.59. Approximately 6,911,189 shares were traded during mid-day trading, an increase of 62% from the average daily volume of 4,262,353 shares. The stock had previously closed at $30.85.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EPD. Barclays upped their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company an "overweight" rating in a research note on Friday, March 14th. Wolfe Research downgraded Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a report on Friday, January 10th. JPMorgan Chase & Co. boosted their price target on Enterprise Products Partners from $37.00 to $38.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. StockNews.com cut Enterprise Products Partners from a "buy" rating to a "hold" rating in a research note on Monday, April 7th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $37.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $36.89.

Enterprise Products Partners Trading Up 1.2 %

The firm's fifty day moving average price is $32.84 and its 200-day moving average price is $31.86. The company has a market cap of $63.44 billion, a price-to-earnings ratio of 10.89, a P/E/G ratio of 1.37 and a beta of 0.78. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83.

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

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be paid a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 7.31%. The ex-dividend date of this dividend is Wednesday, April 30th. Enterprise Products Partners's payout ratio is currently 79.55%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of EPD. Trust Co. of Vermont grew its position in Enterprise Products Partners by 10.0% in the 4th quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer's stock valued at $104,000 after buying an additional 300 shares in the last quarter. Griffin Asset Management Inc. lifted its stake in shares of Enterprise Products Partners by 0.8% in the 4th quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer's stock worth $1,203,000 after acquiring an additional 305 shares during the period. Evanson Asset Management LLC boosted its holdings in shares of Enterprise Products Partners by 0.4% in the fourth quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer's stock valued at $2,304,000 after acquiring an additional 306 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Enterprise Products Partners by 14.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer's stock valued at $78,000 after acquiring an additional 308 shares during the period. Finally, Sandbox Financial Partners LLC raised its holdings in Enterprise Products Partners by 3.2% during the fourth quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer's stock worth $317,000 after purchasing an additional 309 shares in the last quarter. Institutional investors own 26.07% of the company's stock.

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.