Enterprise Products Partners (NYSE:EPD) Shares Down 1.6% - What's Next?

Key Points

• Enterprise Products Partners shares fell 1.6% to about $36.08 in mid-day trading, with volume 14% above the average session level.
• Analysts remain broadly cautious, with a consensus “Hold” rating and a $40.12 target price; recent targets range from $38 to $42.
• The company reported quarterly EPS of $0.84, exceeding estimates, while revenue rose 60.8% year over year to $18.27 billion. It also increased its quarterly dividend to $0.56 per share, implying a 6.2% annualized yield.

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report)'s share price was down 1.6% during mid-day trading on Tuesday. The stock traded as low as $36.01 and last traded at $36.0780. 4,432,111 shares were traded during mid-day trading, an increase of 14% from the average session volume of 3,886,770 shares. The stock had previously closed at $36.65.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. TD Cowen reissued a "hold" rating and issued a $38.00 target price (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday, August 3rd. The Goldman Sachs Group reissued a "neutral" rating and issued a $38.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Capital One Financial began coverage on Enterprise Products Partners in a report on Tuesday, September 22nd. They set an "equal weight" rating and a $42.00 price objective on the stock. Finally, Wall Street Zen raised Enterprise Products Partners from a "buy" rating to a "strong-buy" rating in a report on Sunday, September 6th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $40.12.

Enterprise Products Partners Price Performance

The stock has a market capitalization of $77.91 billion, a P/E ratio of 12.53, a PEG ratio of 1.35 and a beta of 0.50. The company's 50 day simple moving average is $38.44 and its two-hundred day simple moving average is $37.98. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.93 and a quick ratio of 0.66.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, topping the consensus estimate of $0.75 by $0.09. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The business had revenue of $18.27 billion for the quarter, compared to the consensus estimate of $13.69 billion. During the same period in the previous year, the business earned $0.66 EPS. Enterprise Products Partners's revenue was up 60.8% compared to the same quarter last year. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 3.02 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a dividend of $0.56 per share. The ex-dividend date was Friday, July 31st. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a dividend yield of 6.2%. Enterprise Products Partners's dividend payout ratio (DPR) is currently 77.78%.

Institutional Investors Weigh In On Enterprise Products Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EPD. N.E.W. Advisory Services LLC bought a new stake in shares of Enterprise Products Partners during the second quarter valued at approximately $37,000. Bravera Wealth lifted its holdings in Enterprise Products Partners by 666.7% during the 2nd quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer's stock worth $38,000 after buying an additional 900 shares in the last quarter. Markowski Investments acquired a new position in Enterprise Products Partners during the 2nd quarter worth $46,000. BOK Financial Private Wealth Inc. bought a new position in Enterprise Products Partners in the 2nd quarter valued at $48,000. Finally, West Paces Advisors Inc. acquired a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at $55,000. Institutional investors and hedge funds own 26.07% of the company's stock.

About Enterprise Products Partners

Enterprise Products Partners L.P. is a publicly traded master limited partnership that owns and operates midstream energy infrastructure in the United States. The company transports, stores, processes and exports oil, natural gas, natural gas liquids (NGLs), refined products and petrochemicals.

Its operations include pipelines, natural gas processing plants, NGL fractionation facilities, underground storage, marine terminals and export infrastructure. Enterprise serves producers, refiners, petrochemical manufacturers, utilities and other energy customers by connecting major producing regions with domestic and international markets.

Enterprise Products Partners was founded in 1968 and is headquartered in Houston, Texas.

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