Enterprise Products Partners (NYSE:EPD) Shares Down 1.6% – Should You Sell?

by · The Markets Daily

Enterprise Products Partners L.P. (NYSE:EPD – Get Free Report)’s share price traded 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 traded hands during mid-day trading, an increase of 14% from the average daily volume of 3,886,770 shares. The stock had previously closed at $36.65.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on EPD. Capital One Financial initiated coverage on Enterprise Products Partners in a report on Tuesday, September 22nd. They set an “equal weight” rating and a $42.00 price objective for the company. The Goldman Sachs Group reiterated a “neutral” rating and set a $38.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Melius Research started coverage on shares of Enterprise Products Partners in a research note on Tuesday, September 22nd. They set a “hold” rating and a $42.00 price target for the company. UBS Group restated a “buy” rating and issued a $45.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Finally, JPMorgan Chase & Co. raised 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. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $40.12.

Check Out Our Latest Stock Analysis on Enterprise Products Partners

Enterprise Products Partners Stock Down 1.6%

The company has a debt-to-equity ratio of 1.00, a current ratio of 0.93 and a quick ratio of 0.66. The stock has a market cap of $77.91 billion, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 1.35 and a beta of 0.50. The firm has a 50 day simple moving average of $38.44 and a two-hundred day simple moving average of $37.98.

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

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a dividend of $0.56 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date was Friday, July 31st. Enterprise Products Partners’s dividend payout ratio is presently 77.78%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Evolve Private Wealth LLC lifted its stake in Enterprise Products Partners by 662.0% in the 1st quarter. Evolve Private Wealth LLC now owns 154,492 shares of the oil and gas producer’s stock valued at $5,846,000 after purchasing an additional 134,218 shares during the last quarter. Mizuho Markets Americas LLC acquired a new position in Enterprise Products Partners during the second quarter worth approximately $12,866,000. Bank of America Corp DE bought a new stake in Enterprise Products Partners in the second quarter valued at approximately $416,553,000. Markel Group Inc. bought a new stake in Enterprise Products Partners in the first quarter valued at approximately $7,644,000. Finally, Baird Financial Group Inc. acquired a new stake in shares of Enterprise Products Partners in the second quarter valued at approximately $1,174,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Company Profile

(Get Free Report)

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.

Read More