Enterprise Products Partners (NYSE:EPD) Stock Price Down 0.4% - Here's Why

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report)'s share price was down 0.4% on Friday . The company traded as low as $31.07 and last traded at $31.18. Approximately 761,525 shares traded hands during trading, a decline of 83% from the average daily volume of 4,366,677 shares. The stock had previously closed at $31.30.

Analysts Set New Price Targets

A number of research firms recently weighed in on EPD. Citigroup reaffirmed a "buy" rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. JPMorgan Chase & Co. increased their price target on Enterprise Products Partners from $37.00 to $38.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Truist Financial increased their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. Scotiabank upped 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, March 6th. Finally, Wolfe Research downgraded Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a report on Friday, January 10th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Enterprise Products Partners has an average rating of "Moderate Buy" and a consensus price target of $36.89.

Enterprise Products Partners Stock Up 0.1 %

The stock has a market capitalization of $67.87 billion, a P/E ratio of 11.65, a PEG ratio of 1.37 and a beta of 0.78. The firm's 50-day simple moving average is $32.36 and its 200 day simple moving average is $31.96. 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 posted its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $14.07 billion. During the same quarter last year, the company posted $0.72 EPS. Enterprise Products Partners's quarterly revenue was down 2.9% compared to the same quarter last year. As a group, research analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be issued a dividend of $0.535 per share. The ex-dividend date is Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.83%. Enterprise Products Partners's dividend payout ratio (DPR) is presently 79.55%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Verity & Verity LLC boosted its holdings in Enterprise Products Partners by 30.8% during the 4th quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer's stock worth $3,470,000 after acquiring an additional 26,032 shares during the last quarter. Spinnaker Trust purchased a new position in shares of Enterprise Products Partners in the fourth quarter valued at $280,000. FourThought Financial Partners LLC increased its position in shares of Enterprise Products Partners by 18.5% during the fourth quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer's stock valued at $4,407,000 after buying an additional 21,970 shares during the period. Peapack Gladstone Financial Corp increased its holdings in shares of Enterprise Products Partners by 61.7% in the third quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer's stock worth $3,954,000 after purchasing an additional 51,809 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its stake in Enterprise Products Partners by 7.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 310,132 shares of the oil and gas producer's stock valued at $9,726,000 after purchasing an additional 21,192 shares in the last quarter. 26.07% of the stock is owned by institutional investors.

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.