Enterprise Products Partners (NYSE:EPD) Trading Down 0.8% - What's Next?

Shares of Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) traded down 0.8% during mid-day trading on Thursday . The company traded as low as $31.46 and last traded at $31.53. 741,852 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 5,146,679 shares. The stock had previously closed at $31.79.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Barclays reduced their price target on Enterprise Products Partners from $37.00 to $36.00 and set an "overweight" rating on the stock in a research report on Tuesday. Scotiabank increased their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the company a "sector perform" rating in a research report on Thursday, March 6th. Wall Street Zen raised Enterprise Products Partners from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. Citigroup cut their target price on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. raised their target price on Enterprise Products Partners from $37.00 to $38.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $36.56.

Enterprise Products Partners Stock Down 0.4%

The business has a 50 day moving average of $31.48 and a 200-day moving average of $32.22. The stock has a market cap of $67.82 billion, a PE ratio of 11.62, a P/E/G ratio of 1.37 and a beta of 0.67. 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 earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.69 by ($0.05). The company had revenue of $15.42 billion during 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 company's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.66 EPS. Equities research analysts predict 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 was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.84%. The ex-dividend date was Wednesday, April 30th. Enterprise Products Partners's payout ratio is currently 80.15%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of EPD. ING Groep NV purchased a new position in Enterprise Products Partners in the first quarter worth $71,052,000. Alps Advisors Inc. raised its position in Enterprise Products Partners by 5.0% in the first quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer's stock worth $1,410,891,000 after acquiring an additional 1,967,188 shares in the last quarter. 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 worth $426,125,000 after acquiring an additional 1,947,017 shares in the last quarter. JPMorgan Chase & Co. raised its position in Enterprise Products Partners by 65.3% in the first quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer's stock worth $148,415,000 after acquiring an additional 1,717,768 shares in the last quarter. Finally, Truist Financial Corp raised its position in Enterprise Products Partners by 293.6% in the first quarter. Truist Financial Corp now owns 2,018,964 shares of the oil and gas producer's stock worth $68,927,000 after acquiring an additional 1,506,055 shares in the last quarter. Institutional investors and hedge funds 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.