Enterprise Products Partners (NYSE:EPD) Shares Down 1.3% - What's Next?

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) shares were down 1.3% during mid-day trading on Thursday . The stock traded as low as $31.16 and last traded at $31.02. Approximately 1,060,276 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 4,370,975 shares. The stock had previously closed at $31.43.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 11th. Argus raised shares of Enterprise Products Partners to a "strong-buy" rating in a research report on Monday, May 5th. Wall Street Zen upgraded Enterprise Products Partners from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. Citigroup dropped their price target on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Finally, JPMorgan Chase & Co. upped their price objective 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 investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $36.56.

Enterprise Products Partners Stock Down 1.2%

The firm has a fifty day moving average of $31.23 and a 200-day moving average of $32.25. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The firm has a market cap of $66.93 billion, a P/E ratio of 11.47, a price-to-earnings-growth ratio of 1.37 and a beta of 0.67.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings data 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 for 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 revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 EPS. On average, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were given a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 6.93%. The ex-dividend date of this dividend was Wednesday, April 30th. Enterprise Products Partners's dividend payout ratio (DPR) is currently 80.15%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. ING Groep NV acquired a new stake in Enterprise Products Partners in the 1st quarter valued at about $71,052,000. Alps Advisors Inc. raised its stake 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 valued at $1,410,891,000 after buying an additional 1,967,188 shares during the period. Kayne Anderson Capital Advisors LP lifted its position in shares of 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 buying an additional 1,947,017 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Enterprise Products Partners by 65.3% during the 1st 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 during the period. Finally, Truist Financial Corp increased its holdings in shares of Enterprise Products Partners by 293.6% during the 1st 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 during the last quarter. 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.