Enterprise Products Partners (NYSE:EPD) Shares Down 1.4% - Should You Sell?

Key Points

• EPD shares fell 1.4% to about $38.09, while trading volume was 17% below the daily average.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $40.00; ratings include seven Buys, seven Holds, one Strong Buy and one Sell.
• Enterprise Products Partners exceeded quarterly earnings and revenue estimates, while raising its quarterly dividend to $0.56 per share, representing a 5.9% annualized yield.

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report)'s stock price traded down 1.4% during trading on Wednesday . The company traded as low as $38.04 and last traded at $38.0860. Approximately 3,386,560 shares traded hands during trading, a decline of 17% from the average daily volume of 4,097,122 shares. The stock had previously closed at $38.64.

Wall Street Analyst Weigh In

EPD has been the subject of a number of research analyst reports. Morgan Stanley reiterated an "underweight" rating and issued a $41.00 price target (up from $40.00) on shares of Enterprise Products Partners in a report on Tuesday. Wall Street Zen raised shares of Enterprise Products Partners from a "buy" rating to a "strong-buy" rating in a report on Sunday. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $38.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Truist Financial upped their target price on Enterprise Products Partners from $36.00 to $40.00 and gave the company a "hold" rating in a report on Monday, May 4th. Finally, Stifel Nicolaus increased their price target on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $40.00.

Enterprise Products Partners Trading Down 1.4%

The business's 50 day moving average is $37.63 and its two-hundred day moving average is $37.44. The firm has a market capitalization of $82.25 billion, a P/E ratio of 13.22, a PEG ratio of 1.30 and a beta of 0.49. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 1.00.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, beating the consensus estimate of $0.75 by $0.09. The firm had revenue of $18.27 billion for the quarter, compared to analysts' expectations of $13.69 billion. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. Enterprise Products Partners's quarterly revenue was up 60.8% on a year-over-year basis. During the same quarter last year, the company earned $0.66 EPS. Analysts expect that Enterprise Products Partners L.P. will post 2.98 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a dividend of $0.56 per share. The ex-dividend date of this dividend was Friday, July 31st. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a yield of 5.9%. Enterprise Products Partners's dividend payout ratio is presently 77.78%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in Enterprise Products Partners by 19.9% during the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer's stock valued at $1,023,000 after buying an additional 5,425 shares in the last quarter. Schnieders Capital Management LLC. raised its position in Enterprise Products Partners by 9.3% in the second quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer's stock worth $1,827,000 after acquiring an additional 5,000 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Enterprise Products Partners by 6.2% in the 2nd quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer's stock valued at $1,975,000 after acquiring an additional 3,742 shares during the last quarter. Guggenheim Capital LLC boosted its position in shares of Enterprise Products Partners by 6.1% during the 2nd quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer's stock valued at $847,000 after purchasing an additional 1,578 shares in the last quarter. Finally, Glenview Trust co boosted its position in shares of Enterprise Products Partners by 315.8% during the 2nd quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer's stock valued at $1,043,000 after purchasing an additional 25,555 shares in the last quarter. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. NYSE: EPD is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.

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