Enterprise Products Partners (NYSE:EPD) Stock Price Down 1.4% - Here's What Happened

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report)'s share price fell 1.4% during mid-day trading on Monday . The stock traded as low as $29.85 and last traded at $30.04. 1,281,618 shares were traded during trading, a decline of 71% from the average session volume of 4,363,563 shares. The stock had previously closed at $30.46.

Analysts Set New Price Targets

A number of brokerages recently weighed in on EPD. 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 report on Friday, March 14th. Morgan Stanley increased their target price on shares of 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. JPMorgan Chase & Co. lifted their price target 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. Wolfe Research lowered Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a report on Friday, January 10th. Finally, StockNews.com lowered Enterprise Products Partners from a "buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $36.89.

Enterprise Products Partners Stock Down 1.8 %

The company's 50 day simple moving average is $32.06 and its 200-day simple moving average is $32.01. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The firm has a market capitalization of $64.80 billion, a PE ratio of 11.12, a PEG ratio of 1.37 and a beta of 0.67.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. 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 business had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.14 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. Enterprise Products Partners's quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.66 EPS. On average, analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

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 given a dividend of $0.535 per share. The ex-dividend date is Wednesday, April 30th. This represents a $2.14 annualized dividend and a yield of 7.15%. Enterprise Products Partners's payout ratio is presently 80.15%.

Hedge Funds Weigh In On Enterprise Products Partners

Institutional investors have recently made changes to their positions in the stock. Rosenberg Matthew Hamilton lifted its stake in Enterprise Products Partners by 364.4% during the fourth 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 position 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 buying an additional 318 shares during the last quarter. Lee Danner & Bass Inc. purchased a new stake in Enterprise Products Partners in the fourth quarter worth approximately $29,000. Crowley Wealth Management Inc. purchased a new stake in Enterprise Products Partners in the fourth quarter worth approximately $30,000. Finally, Security National Bank bought a new position in Enterprise Products Partners during the first quarter valued at approximately $30,000. Institutional investors own 26.07% of the company's stock.

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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