Enterprise Products Partners (NYSE:EPD) Shares Down 0.7%

Enterprise Products Partners L.P. (NYSE:EPD) shares were down 0.7% during trading on Thursday . The company traded as low as $28.72 and last traded at $28.85. Approximately 1,527,726 shares changed hands during trading, a decline of 69% from the average daily volume of 4,897,861 shares. The stock had previously closed at $29.05.

Wall Street Analyst Weigh In

A number of analysts have commented on EPD shares. StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. Mizuho reissued a “buy” rating and set a $34.00 price objective on shares of Enterprise Products Partners in a report on Thursday, April 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 target price on shares of Enterprise Products Partners in a report on Friday, April 5th. Scotiabank upped their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a report on Thursday, April 4th. Finally, Barclays upped their target price on Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $32.58.

Enterprise Products Partners Stock Down 0.4 %

The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.68. The stock has a market capitalization of $62.71 billion, a P/E ratio of 11.48 and a beta of 1.02. The stock has a 50 day moving average price of $28.51 and a 200-day moving average price of $27.31.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.04. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The company had revenue of $14.62 billion for the quarter, compared to analysts’ expectations of $12.43 billion. During the same period last year, the firm earned $0.65 earnings per share. Enterprise Products Partners’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, research analysts expect that Enterprise Products Partners L.P. will post 2.63 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be issued a dividend of $0.515 per share. The ex-dividend date is Monday, April 29th. This represents a $2.06 annualized dividend and a dividend yield of 7.12%. Enterprise Products Partners’s payout ratio is 81.75%.

Institutional Investors Weigh In On Enterprise Products Partners

Several institutional investors and hedge funds have recently made changes to their positions in EPD. Accordant Advisory Group Inc purchased a new stake in Enterprise Products Partners in the 1st quarter worth about $26,000. Stephens Consulting LLC purchased a new stake in shares of Enterprise Products Partners in the 1st quarter worth $29,000. Burkett Financial Services LLC purchased a new stake in Enterprise Products Partners in the fourth quarter worth about $28,000. Rational Advisors LLC purchased a new position in Enterprise Products Partners during the 3rd quarter valued at about $43,000. Finally, Financial Gravity Asset Management Inc. purchased a new position in Enterprise Products Partners during the 3rd quarter valued at about $48,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.