Enterprise Products Partners (NYSE:EPD) Trading Down 0.4% - Here's What Happened

Shares of Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) were down 0.4% during trading on Wednesday . The company traded as low as $30.18 and last traded at $30.31. Approximately 776,329 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 4,280,433 shares. The stock had previously closed at $30.43.

Analyst Ratings Changes

Several analysts recently issued reports on EPD shares. Royal Bank of Canada reaffirmed an "outperform" rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. 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. StockNews.com cut shares of Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a research note on Monday, August 12th. Bank of America assumed coverage on Enterprise Products Partners in a report on Thursday, October 17th. They set a "buy" rating and a $35.00 price objective on the stock. Finally, Truist Financial boosted their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $34.00.

Enterprise Products Partners Stock Down 0.2 %

The firm's 50-day moving average price is $29.33 and its 200 day moving average price is $29.01. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The firm has a market cap of $65.85 billion, a P/E ratio of 11.37, a price-to-earnings-growth ratio of 1.57 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same period in the previous year, the business posted $0.60 earnings per share. Enterprise Products Partners's revenue was up 14.8% compared to the same quarter last year. As a group, research analysts expect that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 6.91%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners's dividend payout ratio (DPR) is currently 78.65%.

Institutional Investors Weigh In On Enterprise Products Partners

Hedge funds have recently bought and sold shares of the company. O Shaughnessy Asset Management LLC boosted its stake in Enterprise Products Partners by 19.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer's stock worth $685,000 after purchasing an additional 3,770 shares during the period. Catalyst Capital Advisors LLC grew its position in Enterprise Products Partners by 5.8% in the third quarter. Catalyst Capital Advisors LLC now owns 477,341 shares of the oil and gas producer's stock valued at $13,895,000 after acquiring an additional 26,136 shares during the last quarter. Sanders Morris Harris LLC lifted its holdings in shares of Enterprise Products Partners by 28.1% in the third quarter. Sanders Morris Harris LLC now owns 705,804 shares of the oil and gas producer's stock worth $20,546,000 after acquiring an additional 154,822 shares during the last quarter. Pathway Financial Advisers LLC grew its holdings in shares of Enterprise Products Partners by 2,862.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer's stock valued at $225,777,000 after purchasing an additional 7,494,224 shares during the last quarter. Finally, Nwam LLC lifted its stake in Enterprise Products Partners by 25.1% in the 1st quarter. Nwam LLC now owns 20,822 shares of the oil and gas producer's stock valued at $591,000 after purchasing an additional 4,184 shares during the last quarter. 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.

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