Enterprise Products Partners (NYSE:EPD) Stock Price Down 0.4% - Here's What Happened

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) shares dropped 0.4% on Friday . The stock traded as low as $31.07 and last traded at $31.18. Approximately 761,525 shares were traded during trading, a decline of 83% from the average daily volume of 4,366,677 shares. The stock had previously closed at $31.30.

Wall Street Analyst Weigh In

EPD has been the topic of a number of research reports. Scotiabank increased their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a "sector perform" rating in a research report on Thursday, March 6th. Royal Bank of Canada restated an "outperform" rating and issued a $37.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Morgan Stanley raised their target price on Enterprise Products Partners from $36.00 to $38.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 11th. StockNews.com upgraded shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a research note on Tuesday, April 15th. Finally, 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 report on Friday, March 14th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $36.89.

Enterprise Products Partners Price Performance

The stock has a 50-day moving average of $32.31 and a two-hundred day moving average of $31.98. The firm has a market cap of $66.73 billion, a price-to-earnings ratio of 11.45, a price-to-earnings-growth ratio of 1.37 and a beta of 0.78. 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 issued its 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). Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.14 billion. During the same period last year, the business earned $0.66 EPS. The business's quarterly revenue was up 4.5% on a year-over-year basis. On average, analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be paid a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.95%. The ex-dividend date of this dividend is Wednesday, April 30th. Enterprise Products Partners's dividend payout ratio (DPR) is presently 79.55%.

Institutional Investors Weigh In On Enterprise Products Partners

Several institutional investors have recently made changes to their positions in the company. Rosenberg Matthew Hamilton increased its stake in shares of Enterprise Products Partners by 364.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer's stock worth $26,000 after purchasing an additional 656 shares during the last quarter. Tidemark LLC lifted its holdings in Enterprise Products Partners by 54.3% in the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer's stock worth $28,000 after purchasing an additional 318 shares during the last quarter. Lee Danner & Bass Inc. acquired a new position in Enterprise Products Partners during the fourth quarter valued at approximately $29,000. Crowley Wealth Management Inc. bought a new stake in shares of Enterprise Products Partners during the 4th quarter worth $30,000. Finally, Security National Bank acquired a new position in Enterprise Products Partners during the 1st quarter worth $30,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

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.