Enterprise Products Partners (NYSE:EPD) Trading Down 1.2% - Here's Why

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) shares traded down 1.2% during trading on Wednesday . The company traded as low as $30.91 and last traded at $30.93. 1,286,768 shares were traded during mid-day trading, a decline of 70% from the average session volume of 4,289,647 shares. The stock had previously closed at $31.29.

Wall Street Analyst Weigh In

EPD has been the subject of several research reports. Bank of America assumed coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They set a "buy" rating and a $35.00 price objective for the company. Royal Bank of Canada restated an "outperform" rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. US Capital Advisors upgraded Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, October 28th. Finally, Wells Fargo & Company downgraded Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 target price for the company. in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of "Moderate Buy" and an average target price of $34.20.

Enterprise Products Partners Stock Down 2.7 %

The company has a market cap of $66.00 billion, a P/E ratio of 11.40, a PEG ratio of 1.67 and a beta of 1.08. The stock has a 50-day moving average of $30.90 and a 200 day moving average of $29.72. 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 released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same period in the prior year, the business earned $0.60 earnings per share. Enterprise Products Partners's quarterly revenue was up 14.8% compared to the same quarter last year. Research analysts anticipate that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.90%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners's dividend payout ratio is presently 78.65%.

Hedge Funds Weigh In On Enterprise Products Partners

Institutional investors have recently modified their holdings of the business. Hantz Financial Services Inc. acquired a new stake in Enterprise Products Partners in the second quarter valued at about $25,000. Mascoma Wealth Management LLC bought a new position in Enterprise Products Partners in the 2nd quarter valued at approximately $29,000. DiNuzzo Private Wealth Inc. boosted its holdings in shares of Enterprise Products Partners by 1,000.0% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer's stock valued at $32,000 after acquiring an additional 1,000 shares in the last quarter. Assetmark Inc. boosted its stake in shares of Enterprise Products Partners by 19,800.0% during the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer's stock valued at $35,000 after purchasing an additional 1,188 shares in the last quarter. Finally, Sanctuary Wealth Management L.L.C. bought a new stake in Enterprise Products Partners during the 3rd quarter worth approximately $36,000. Institutional investors and hedge funds 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.