Enterprise Products Partners (NYSE:EPD) Trading Down 3% - What's Next?

Shares of Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) were down 3% during trading on Wednesday . The stock traded as low as $28.01 and last traded at $28.21. Approximately 3,419,058 shares were traded during mid-day trading, a decline of 21% from the average daily volume of 4,325,462 shares. The stock had previously closed at $29.09.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. Truist Financial lifted their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, January 3rd. Citigroup reaffirmed a "buy" rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Barclays lifted their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock an "overweight" rating in a report on Friday, March 14th. Finally, Morgan Stanley upped their price objective on Enterprise Products Partners from $36.00 to $38.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 11th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Enterprise Products Partners presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.89.

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Enterprise Products Partners Stock Performance

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 company has a 50 day simple moving average of $32.75 and a 200-day simple moving average of $31.86. The stock has a market capitalization of $67.03 billion, a P/E ratio of 11.51, a price-to-earnings-growth ratio of 1.37 and a beta of 0.78.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.05. The business had revenue of $14.20 billion for the quarter, compared to analysts' expectations of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm's quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.72 EPS. On average, equities analysts forecast 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. Investors of record on Wednesday, April 30th will be paid a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.91%. The ex-dividend date of this dividend is Wednesday, April 30th. Enterprise Products Partners's payout ratio is currently 79.55%.

Institutional Investors Weigh In On Enterprise Products Partners

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

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.