Enterprise Products Partners (NYSE:EPD) Stock Price Down 2.2% - Time to Sell?

Shares of Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) were down 2.2% during mid-day trading on Thursday . The company traded as low as $28.96 and last traded at $29.05. Approximately 1,286,697 shares traded hands during trading, a decline of 70% from the average daily volume of 4,357,448 shares. The stock had previously closed at $29.69.

Wall Street Analyst Weigh In

A number of analysts have recently commented on EPD shares. Citigroup restated a "buy" rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Wells Fargo & Company cut 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, December 18th. JPMorgan Chase & Co. lifted their price target on Enterprise Products Partners from $37.00 to $38.00 and gave the stock an "overweight" rating in a report on Thursday, March 27th. Royal Bank of Canada restated an "outperform" rating and set a $37.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Finally, Truist Financial boosted their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a "buy" rating in a report on Friday, January 3rd. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $36.89.

Enterprise Products Partners Stock Up 2.2 %

The business has a 50-day simple moving average of $32.84 and a 200-day simple moving average of $31.86. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The company has a market cap of $65.58 billion, a price-to-earnings ratio of 11.26, a price-to-earnings-growth ratio of 1.37 and a beta of 0.78.

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 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. Enterprise Products Partners's revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.72 earnings per share. On average, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be paid a $0.535 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a dividend yield of 7.07%. Enterprise Products Partners's dividend payout ratio (DPR) is presently 79.55%.

Institutional Investors Weigh In On Enterprise Products Partners

Several institutional investors and hedge funds have recently made changes to their positions in the business. Rosenberg Matthew Hamilton raised its holdings in shares of Enterprise Products Partners by 364.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer's stock worth $26,000 after acquiring an additional 656 shares during the last quarter. Tidemark LLC boosted its stake in shares of Enterprise Products Partners by 54.3% during the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer's stock worth $28,000 after purchasing an additional 318 shares during the last quarter. Lee Danner & Bass Inc. purchased a new stake in shares of Enterprise Products Partners during the fourth quarter worth about $29,000. Crowley Wealth Management Inc. purchased a new position in shares of Enterprise Products Partners during the fourth quarter valued at approximately $30,000. Finally, National Bank of Canada FI grew its stake in Enterprise Products Partners by 55.4% in the 4th quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer's stock worth $32,000 after acquiring an additional 360 shares during the period. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

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.