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

Key Points

• Enterprise Products Partners shares fell 1.4% on Thursday, trading as low as $37.31 before closing near $37.46, with volume below the normal average.
• Recent analyst updates were mixed, but overall sentiment is cautious: the stock currently has a consensus rating of Hold and an average price target of $39.67, while several firms raised targets and reiterated bullish ratings.
• The company reported quarterly EPS of $0.68, missing expectations, but revenue came in above estimates; it also paid a $0.55 quarterly dividend that annualizes to a 5.9% yield.

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) shares fell 1.4% during mid-day trading on Thursday . The company traded as low as $37.31 and last traded at $37.4570. 3,423,143 shares were traded during mid-day trading, a decline of 27% from the average session volume of 4,689,302 shares. The stock had previously closed at $37.99.

Analyst Upgrades and Downgrades

EPD has been the subject of several recent research reports. Royal Bank Of Canada increased their price target on Enterprise Products Partners from $40.00 to $42.00 and gave the company an "outperform" rating in a research note on Monday, March 30th. Stifel Nicolaus increased their price target on Enterprise Products Partners from $41.00 to $42.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Truist Financial increased their price target on Enterprise Products Partners from $36.00 to $40.00 and gave the company a "hold" rating in a research note on Monday, May 4th. Barclays increased their price target on Enterprise Products Partners from $38.00 to $39.00 and gave the company an "overweight" rating in a research note on Thursday, March 5th. Finally, Citigroup reissued a "buy" rating and issued a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Nine equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Enterprise Products Partners currently has a consensus rating of "Hold" and an average price target of $39.67.

Enterprise Products Partners Trading Down 1.4%

The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03. The firm has a 50-day moving average of $38.15 and a 200 day moving average of $35.21. The company has a market cap of $80.97 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 1.43 and a beta of 0.52.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.03). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The business had revenue of $14.39 billion for the quarter, compared to the consensus estimate of $13.62 billion. During the same quarter in the previous year, the company earned $0.64 EPS. The firm's revenue for the quarter was down 6.7% on a year-over-year basis. On average, analysts predict that Enterprise Products Partners L.P. will post 2.95 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were given a dividend of $0.55 per share. The ex-dividend date was Thursday, April 30th. This represents a $2.20 annualized dividend and a dividend yield of 5.9%. Enterprise Products Partners's dividend payout ratio is presently 81.48%.

Insider Activity at Enterprise Products Partners

In other Enterprise Products Partners news, CEO Aj Teague bought 2,665 shares of the business's stock in a transaction that occurred on Friday, March 20th. The shares were bought at an average price of $37.55 per share, for a total transaction of $100,070.75. Following the transaction, the chief executive officer directly owned 77,576 shares in the company, valued at approximately $2,912,978.80. This trade represents a 3.56% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 32.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Enterprise Products Partners

Several institutional investors and hedge funds have recently made changes to their positions in EPD. Auto Owners Insurance Co boosted its position in shares of Enterprise Products Partners by 3,106.0% during the 4th quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer's stock valued at $102,784,000 after purchasing an additional 31,060,000 shares in the last quarter. CIBC Bancorp USA Inc. bought a new position in Enterprise Products Partners in the third quarter worth approximately $292,194,000. Goldman Sachs Group Inc. boosted its holdings in Enterprise Products Partners by 12.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer's stock worth $582,317,000 after acquiring an additional 1,940,583 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in Enterprise Products Partners by 119.4% in the second quarter. Corient Private Wealth LLC now owns 2,414,035 shares of the oil and gas producer's stock worth $74,859,000 after acquiring an additional 1,313,976 shares in the last quarter. Finally, Barclays PLC boosted its holdings in Enterprise Products Partners by 57.5% in the fourth quarter. Barclays PLC now owns 2,928,068 shares of the oil and gas producer's stock worth $93,874,000 after acquiring an additional 1,069,304 shares in the last quarter. Institutional investors own 26.07% of the company's stock.

About Enterprise Products Partners

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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