Enterprise Products Partners (NYSE:EPD) Shares Down 1% Following Weak Earnings

Shares of Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) were down 1% during trading on Tuesday after the company announced weaker than expected quarterly earnings. The company traded as low as $30.45 and last traded at $31.06. Approximately 3,601,249 shares traded hands during trading, a decline of 17% from the average daily volume of 4,365,024 shares. The stock had previously closed at $31.37.

The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.05). The firm had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.14 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.66 EPS.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be paid a dividend of $0.535 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a yield of 6.92%. Enterprise Products Partners's dividend payout ratio is presently 79.55%.

Analyst Ratings Changes

Several research analysts have recently weighed in on EPD shares. Royal Bank of Canada reiterated an "outperform" rating and set a $37.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Wolfe Research cut shares of Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 10th. JPMorgan Chase & Co. increased their price objective on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the stock an "overweight" rating in a research note on Thursday, March 27th. Barclays boosted their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock an "overweight" rating in a research note on Friday, March 14th. Finally, Citigroup reissued a "buy" rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Enterprise Products Partners currently has a consensus rating of "Moderate Buy" and an average target price of $36.89.

Institutional Investors Weigh In On Enterprise Products Partners

Several large investors have recently bought and sold shares of the company. Invesco Ltd. grew its stake in shares of Enterprise Products Partners by 1.3% in the 4th quarter. Invesco Ltd. now owns 27,076,718 shares of the oil and gas producer's stock valued at $849,126,000 after buying an additional 359,288 shares during the period. FMR LLC raised its stake in shares of Enterprise Products Partners by 2.1% in the 4th quarter. FMR LLC now owns 14,734,295 shares of the oil and gas producer's stock valued at $462,067,000 after acquiring an additional 304,997 shares during the period. Kayne Anderson Capital Advisors LP raised its position in Enterprise Products Partners by 16.7% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer's stock valued at $426,125,000 after purchasing an additional 1,947,017 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Enterprise Products Partners by 8.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer's stock worth $330,739,000 after purchasing an additional 851,188 shares in the last quarter. Finally, Westwood Holdings Group Inc. grew its stake in shares of Enterprise Products Partners by 11.1% in the fourth quarter. Westwood Holdings Group Inc. now owns 5,830,088 shares of the oil and gas producer's stock valued at $182,832,000 after buying an additional 580,850 shares in the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Price Performance

The company has a fifty day moving average of $32.31 and a 200-day moving average of $31.98. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The stock has a market cap of $66.96 billion, a PE ratio of 11.55, a P/E/G ratio of 1.37 and a beta of 0.78.

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.

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