Enterprise Products Partners (NYSE:EPD) Trading Down 0.8%

Shares of Enterprise Products Partners L.P. (NYSE:EPD) were down 0.8% during mid-day trading on Wednesday . The company traded as low as $27.83 and last traded at $27.86. Approximately 1,571,400 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 4,962,457 shares. The stock had previously closed at $28.08.

Wall Street Analyst Weigh In

EPD has been the subject of several recent research reports. Scotiabank raised their price target on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 4th. Barclays boosted their target price on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, March 26th. Mizuho reiterated a “buy” rating and set a $34.00 price target on shares of Enterprise Products Partners in a report on Thursday, April 4th. StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 9th. Finally, Stifel Nicolaus boosted their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $32.75.

Enterprise Products Partners Stock Down 1.3 %

The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.68. The company has a market cap of $60.08 billion, a price-to-earnings ratio of 11.06 and a beta of 1.02. The firm’s 50-day moving average price is $28.62 and its 200-day moving average price is $27.34.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, topping the consensus estimate of $0.64 by $0.02. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The firm had revenue of $14.76 billion for the quarter, compared to analyst estimates of $13.82 billion. During the same period in the previous year, the company posted $0.64 EPS. Enterprise Products Partners’s revenue for the quarter was up 18.6% on a year-over-year basis. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.63 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.43%. The ex-dividend date of this dividend is Monday, April 29th. Enterprise Products Partners’s payout ratio is currently 81.75%.

Institutional Trading of Enterprise Products Partners

Several institutional investors have recently added to or reduced their stakes in the stock. Hazlett Burt & Watson Inc. boosted its holdings in Enterprise Products Partners by 8.2% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 4,897 shares of the oil and gas producer’s stock worth $128,000 after purchasing an additional 371 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in Enterprise Products Partners by 3.3% during the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 11,969 shares of the oil and gas producer’s stock worth $328,000 after acquiring an additional 386 shares during the period. Ellsworth Advisors LLC lifted its holdings in Enterprise Products Partners by 1.9% in the fourth quarter. Ellsworth Advisors LLC now owns 21,173 shares of the oil and gas producer’s stock worth $558,000 after acquiring an additional 393 shares during the last quarter. Register Financial Advisors LLC boosted its stake in Enterprise Products Partners by 2.3% in the fourth quarter. Register Financial Advisors LLC now owns 17,320 shares of the oil and gas producer’s stock valued at $456,000 after acquiring an additional 397 shares during the period. Finally, Your Advocates Ltd. LLP grew its holdings in shares of Enterprise Products Partners by 1.9% during the third quarter. Your Advocates Ltd. LLP now owns 22,481 shares of the oil and gas producer’s stock valued at $615,000 after purchasing an additional 412 shares during the last quarter. 26.07% of the stock is 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.