Enterprise Products Partners (NYSE:EPD) Stock Price Down 0.1% - What's Next?

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report)'s stock price dropped 0.1% on Monday . The company traded as low as $29.11 and last traded at $29.14. Approximately 615,486 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 4,283,392 shares. The stock had previously closed at $29.18.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Bank of America initiated coverage on shares of Enterprise Products Partners in a report on Thursday. They issued a "buy" rating and a $35.00 price objective for the company. Truist Financial boosted their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a "buy" rating in a research report on Wednesday, July 31st. StockNews.com lowered shares of Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 12th. Finally, Royal Bank of Canada boosted their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock an "outperform" rating in a report on Wednesday, October 16th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Enterprise Products Partners currently has a consensus rating of "Buy" and an average target price of $33.73.

Enterprise Products Partners Price Performance

The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The stock's 50 day moving average price is $29.23 and its two-hundred day moving average price is $28.96. The firm has a market capitalization of $62.95 billion, a price-to-earnings ratio of 11.37, a P/E/G ratio of 1.49 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.02). The firm had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The business's revenue for the quarter was up 26.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.57 earnings per share. Analysts anticipate that Enterprise Products Partners L.P. will post 2.71 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 7.24%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners's dividend payout ratio (DPR) is presently 82.35%.

Institutional Investors Weigh In On Enterprise Products Partners

Institutional investors and hedge funds have recently modified their holdings of the business. Blackstone Inc. raised its holdings in Enterprise Products Partners by 6.3% during the first quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer's stock valued at $686,712,000 after buying an additional 1,391,370 shares in the last quarter. Reaves W H & Co. Inc. lifted its holdings in Enterprise Products Partners by 1,368.4% in the 1st quarter. Reaves W H & Co. Inc. now owns 1,468,440 shares of the oil and gas producer's stock worth $42,849,000 after purchasing an additional 1,368,440 shares during the last quarter. Berkley W R Corp boosted its position in Enterprise Products Partners by 24.5% during the first quarter. Berkley W R Corp now owns 5,089,794 shares of the oil and gas producer's stock worth $148,520,000 after purchasing an additional 1,000,000 shares during the period. Distillate Capital Partners LLC grew its holdings in Enterprise Products Partners by 160,136.7% during the second quarter. Distillate Capital Partners LLC now owns 767,534 shares of the oil and gas producer's stock valued at $22,243,000 after purchasing an additional 767,055 shares during the last quarter. Finally, Tortoise Capital Advisors L.L.C. raised its position in shares of Enterprise Products Partners by 4.8% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer's stock valued at $470,091,000 after purchasing an additional 741,237 shares during the period. Institutional investors and hedge funds 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.