Enterprise Products Partners (NYSE:EPD) Trading Down 1.5% - Here's Why

Key Points

• Enterprise Products Partners shares fell 1.5% during Friday trading, briefly touching $37.15, with volume running about 10% above average.
• Recent analyst activity was mixed but mostly constructive, with firms including Wells Fargo and Citigroup raising targets while the overall consensus remains a “Hold” and average price target sits at $38.93.
• The company reported Q1 earnings of $0.68 per share, below expectations, though revenue topped forecasts; it also declared a $0.55 quarterly dividend, implying a 5.9% annualized yield.

Shares of Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) traded down 1.5% during mid-day trading on Friday . The stock traded as low as $37.15 and last traded at $37.1740. 5,204,590 shares traded hands during trading, an increase of 10% from the average session volume of 4,742,582 shares. The stock had previously closed at $37.73.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on EPD. Wolfe Research raised shares of Enterprise Products Partners from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 21st. Wells Fargo & Company raised Enterprise Products Partners from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $40.00 to $42.00 in a research report on Wednesday, March 25th. Morgan Stanley reaffirmed an "underweight" rating and set a $42.00 price target on shares of Enterprise Products Partners in a research report on Tuesday, April 14th. Citigroup reiterated a "buy" rating and set a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. lifted their price objective on Enterprise Products Partners from $35.00 to $39.00 and gave the stock a "neutral" rating in a report on Tuesday, March 10th. Nine investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Enterprise Products Partners has an average rating of "Hold" and a consensus target price of $38.93.

Enterprise Products Partners Price Performance

The business's 50 day moving average is $37.61 and its two-hundred day moving average is $34.43. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.74 and a current ratio of 1.04. The firm has a market capitalization of $80.36 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 1.41 and a beta of 0.52.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.03). The company had revenue of $14.39 billion for the quarter, compared to analysts' expectations of $13.62 billion. Enterprise Products Partners had a return on equity of 19.56% and a net margin of 11.45%.The company's revenue was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 EPS. Equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.92 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th will be paid a $0.55 dividend. The ex-dividend date is Thursday, April 30th. This represents a $2.20 annualized dividend and a yield of 5.9%. Enterprise Products Partners's dividend payout ratio (DPR) is currently 81.48%.

Insiders Place Their Bets

In related news, CEO Aj Teague bought 2,665 shares of Enterprise Products Partners stock in a transaction on Friday, March 20th. The stock was acquired at an average price of $37.55 per share, with a total value of $100,070.75. Following the acquisition, the chief executive officer directly owned 77,576 shares of the company's stock, valued at $2,912,978.80. This represents a 3.56% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 32.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Enterprise Products Partners

Large investors have recently modified their holdings of the company. PMV Capital Advisers LLC bought a new position in Enterprise Products Partners in the 4th quarter valued at $25,000. Palisade Asset Management LLC bought a new position in shares of Enterprise Products Partners in the third quarter worth $31,000. Abich Financial Wealth Management LLC purchased a new stake in shares of Enterprise Products Partners in the third quarter worth $32,000. Texas Capital Bancshares Inc TX bought a new stake in Enterprise Products Partners during the third quarter valued at $32,000. Finally, Daytona Street Capital LLC bought a new stake in Enterprise Products Partners during the fourth quarter valued at $42,000. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Company Profile

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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