Enterprise Products Partners (NYSE:EPD) Trading Down 2.1% - Here's Why

Key Points

• Shares fell 2.1% on Wednesday to about $37.68, trading roughly 4.57 million shares (slightly below the average) after intraday lows near $37.47 and a prior close of $38.50.
• Enterprise missed quarterly EPS at $0.68 versus $0.71 expected but beat on revenue with $14.39 billion; analysts remain mixed—nine Buys, seven Holds and one Sell—with a consensus price target of about $38.93 and several firms recently raising targets.
• The firm declared a quarterly dividend of $0.55 (annualized yield ~5.8%, payout ratio ~81%), and CEO Aj Teague purchased 2,665 shares recently, while the company has a market cap near $81.5 billion.

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report)'s share price was down 2.1% during trading on Wednesday . The company traded as low as $37.47 and last traded at $37.6760. Approximately 4,566,065 shares were traded during mid-day trading, a decline of 4% from the average daily volume of 4,752,391 shares. The stock had previously closed at $38.50.

Analysts Set New Price Targets

A number of equities analysts recently commented on EPD shares. TD Cowen reaffirmed a "hold" rating and issued a $38.00 target price (up from $34.00) on shares of Enterprise Products Partners in a report on Thursday, April 16th. Citigroup reaffirmed a "buy" rating and issued a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. Stifel Nicolaus raised their price target on Enterprise Products Partners from $41.00 to $42.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Jefferies Financial Group raised their price target on Enterprise Products Partners from $34.00 to $40.00 and gave the company a "hold" rating in a report on Tuesday, March 31st. Finally, Scotiabank raised their price target on Enterprise Products Partners from $37.00 to $39.00 and gave the company a "sector perform" rating in a report on Tuesday, March 17th. Nine equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Enterprise Products Partners currently has an average rating of "Hold" and a consensus target price of $38.93.

Enterprise Products Partners Trading Down 2.1%

The company has a quick ratio of 0.74, a current ratio of 1.04 and a debt-to-equity ratio of 1.07. The stock has a fifty day simple moving average of $37.55 and a 200 day simple moving average of $34.32. The firm has a market capitalization of $81.45 billion, a P/E ratio of 14.26, a PEG ratio of 1.46 and a beta of 0.52.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The oil and gas producer reported $0.68 EPS for the quarter, missing analysts' consensus estimates of $0.71 by ($0.03). The business had revenue of $14.39 billion for the quarter, compared to the consensus estimate of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.56%. Enterprise Products Partners's revenue was down 6.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.64 earnings per share. As a group, research analysts forecast that Enterprise Products Partners L.P. will post 2.89 EPS for the current year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th will be given a dividend of $0.55 per share. The ex-dividend date is Thursday, April 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.8%. Enterprise Products Partners's dividend payout ratio (DPR) is presently 81.48%.

Insider Buying and Selling at Enterprise Products Partners

In other news, CEO Aj Teague acquired 2,665 shares of the business's stock in a transaction dated Friday, March 20th. The stock was purchased at an average price of $37.55 per share, for a total transaction of $100,070.75. Following the completion of 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 32.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Walker Asset Management LLC grew its position in shares of Enterprise Products Partners by 1.5% during the first quarter. Walker Asset Management LLC now owns 19,974 shares of the oil and gas producer's stock valued at $756,000 after purchasing an additional 296 shares in the last quarter. Hunter Associates Investment Management LLC grew its position in shares of Enterprise Products Partners by 3.8% during the first quarter. Hunter Associates Investment Management LLC now owns 8,106 shares of the oil and gas producer's stock valued at $307,000 after purchasing an additional 300 shares in the last quarter. Arete Wealth Advisors LLC grew its position in shares of Enterprise Products Partners by 1.5% during the third quarter. Arete Wealth Advisors LLC now owns 21,145 shares of the oil and gas producer's stock valued at $661,000 after purchasing an additional 317 shares in the last quarter. ORG Wealth Partners LLC grew its position in shares of Enterprise Products Partners by 0.5% during the fourth quarter. ORG Wealth Partners LLC now owns 66,266 shares of the oil and gas producer's stock valued at $2,125,000 after purchasing an additional 317 shares in the last quarter. Finally, Mission Wealth Management LP grew its position in Enterprise Products Partners by 1.0% in the fourth quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer's stock worth $1,037,000 after acquiring an additional 328 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company's stock.

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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