Enterprise Products Partners (NYSE:EPD) Stock Price Down 1.1% - Here's Why

Key Points

• Enterprise Products Partners shares fell 1.1% to about $35.64, while trading volume rose 41% above the daily average.
• Analyst sentiment is mixed, with a consensus rating of “Hold” and an average price target of $40.12, implying potential upside from current levels.
• The company reported quarterly earnings of $0.84 per share, beating estimates, and increased its quarterly dividend to $0.56 per share, equal to a 6.3% annualized yield.

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) traded down 1.1% during trading on Wednesday. The stock traded as low as $35.58 and last traded at $35.6350. 5,511,278 shares changed hands during mid-day trading, an increase of 41% from the average daily volume of 3,895,510 shares. The stock had previously closed at $36.02.

Wall Street Analyst Weigh In

EPD has been the subject of a number of research reports. Weiss Ratings raised shares of Enterprise Products Partners from a "buy (b)" rating to a "buy (a-)" rating in a research note on Tuesday, August 11th. Capital One Financial started coverage on Enterprise Products Partners in a research report on Tuesday, September 22nd. They set an "equal weight" rating and a $42.00 price target on the stock. Morgan Stanley reissued an "underweight" rating and set a $41.00 price objective (up from $40.00) on shares of Enterprise Products Partners in a research report on Tuesday, August 18th. Stifel Nicolaus assumed coverage on shares of Enterprise Products Partners in a research note on Thursday, September 10th. They issued a "hold" rating and a $40.00 price target for the company. Finally, UBS Group reissued a "buy" rating and set a $45.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $40.12.

Enterprise Products Partners Stock Down 1.1%

The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.93. The company has a market capitalization of $76.95 billion, a PE ratio of 12.37, a P/E/G ratio of 1.35 and a beta of 0.50. The company's 50-day moving average is $38.39 and its 200 day moving average is $37.97.

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

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a dividend of $0.56 per share. The ex-dividend date was Friday, July 31st. This represents a $2.24 dividend on an annualized basis and a yield of 6.3%. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.55. Enterprise Products Partners's dividend payout ratio (DPR) is presently 77.78%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. QRG Capital Management Inc. increased its stake in Enterprise Products Partners by 49.7% in the 2nd quarter. QRG Capital Management Inc. now owns 10,004 shares of the oil and gas producer's stock worth $368,000 after buying an additional 3,321 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Enterprise Products Partners by 2.6% in the second quarter. Envestnet Asset Management Inc. now owns 662,552 shares of the oil and gas producer's stock worth $24,355,000 after acquiring an additional 16,760 shares during the period. Security National Bank of Sioux City Iowa IA purchased a new position in Enterprise Products Partners in the 2nd quarter worth approximately $67,000. Anchor Investment Management LLC boosted its stake in Enterprise Products Partners by 13.5% in the 2nd quarter. Anchor Investment Management LLC now owns 42,150 shares of the oil and gas producer's stock worth $1,549,000 after purchasing an additional 5,004 shares during the period. Finally, Core Capital Management & Research inc. purchased a new stake in Enterprise Products Partners during the 2nd quarter valued at approximately $4,393,000. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Company Profile

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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