Enterprise Products Partners (NYSE:EPD) Shares Down 1.3% - Time to Sell?

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report)'s share price traded down 1.3% during trading on Monday . The stock traded as low as $33.07 and last traded at $33.15. 2,697,809 shares traded hands during mid-day trading, a decline of 30% from the average session volume of 3,844,347 shares. The stock had previously closed at $33.57.

Analyst Upgrades and Downgrades

EPD has been the subject of a number of research analyst reports. Wells Fargo & Company cut Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 price target for the company. in a report on Wednesday, December 18th. US Capital Advisors upgraded shares of Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, October 28th. Truist Financial upped their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. Scotiabank initiated coverage on shares of Enterprise Products Partners in a report on Friday, January 10th. They issued a "sector perform" rating and a $33.00 target price for the company. Finally, Bank of America assumed coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They set a "buy" rating and a $35.00 price target on the stock. Four 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.60.

Enterprise Products Partners Stock Performance

The firm has a market capitalization of $70.87 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 1.59 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The firm has a 50 day moving average price of $32.53 and a 200-day moving average price of $30.53.

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 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 company had revenue of $13.78 billion during the quarter, compared to analysts' expectations of $13.87 billion. During the same quarter in the previous year, the business posted $0.60 EPS. The business's quarterly revenue was up 14.8% compared to the same quarter last year. As a group, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.67 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 6.55%. The ex-dividend date is Friday, January 31st. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.53. Enterprise Products Partners's payout ratio is 78.65%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can lifted its holdings in Enterprise Products Partners by 2.3% during the 2nd quarter. Bank of Montreal Can now owns 25,371 shares of the oil and gas producer's stock worth $739,000 after buying an additional 570 shares during the last quarter. Silvia Mccoll Wealth Management LLC raised its position in shares of Enterprise Products Partners by 3.1% during the 3rd quarter. Silvia Mccoll Wealth Management LLC now owns 21,502 shares of the oil and gas producer's stock worth $626,000 after acquiring an additional 640 shares in the last quarter. Park Avenue Securities LLC lifted its stake in Enterprise Products Partners by 4.2% during the third quarter. Park Avenue Securities LLC now owns 36,633 shares of the oil and gas producer's stock worth $1,066,000 after purchasing an additional 1,474 shares during the last quarter. Duncan Williams Asset Management LLC acquired a new position in Enterprise Products Partners in the third quarter valued at approximately $226,000. Finally, Cullen Investment Group LTD. increased its stake in Enterprise Products Partners by 0.8% in the third quarter. Cullen Investment Group LTD. now owns 258,806 shares of the oil and gas producer's stock valued at $7,534,000 after purchasing an additional 1,979 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

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.