Enterprise Products Partners (NYSE:EPD) Shares Down 0.5% After Analyst Downgrade

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) fell 0.5% during trading on Wednesday after Barclays lowered their price target on the stock from $37.00 to $36.00. Barclays currently has an overweight rating on the stock. Enterprise Products Partners traded as low as $31.93 and last traded at $32.02. 688,519 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 5,173,618 shares. The stock had previously closed at $32.19.

Several other research analysts have also recently issued reports on EPD. Scotiabank increased their target price on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a "sector perform" rating in a report on Thursday, March 6th. Wall Street Zen upgraded shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. Royal Bank of Canada reiterated an "outperform" rating and set a $37.00 target price on shares of Enterprise Products Partners in a report on Wednesday, March 26th. JPMorgan Chase & Co. increased their target price on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the stock an "overweight" rating in a report on Thursday, March 27th. Finally, Citigroup decreased their price target on shares of Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $36.56.

Hedge Funds Weigh In On Enterprise Products Partners

Several hedge funds and other institutional investors have recently modified their holdings of EPD. Spinnaker Trust purchased a new position in Enterprise Products Partners during the 4th quarter worth approximately $280,000. FourThought Financial Partners LLC raised its position in Enterprise Products Partners by 18.5% during the 4th quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer's stock worth $4,407,000 after buying an additional 21,970 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in Enterprise Products Partners by 7.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 310,132 shares of the oil and gas producer's stock worth $9,726,000 after buying an additional 21,192 shares during the last quarter. Trek Financial LLC purchased a new position in Enterprise Products Partners during the 4th quarter worth approximately $3,405,000. Finally, Evernest Financial Advisors LLC purchased a new position in Enterprise Products Partners during the 4th quarter worth approximately $627,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Down 0.4%

The company has a market capitalization of $67.82 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 1.37 and a beta of 0.67. The business's 50-day simple moving average is $31.48 and its 200-day simple moving average is $32.22. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.05). The firm had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.14 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The firm's quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.66 EPS. As a group, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th were paid a $0.535 dividend. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a yield of 6.84%. Enterprise Products Partners's dividend payout ratio is currently 80.15%.

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.