Enterprise Products Partners (NYSE:EPD) Trading Down 1.6% – Time to Sell?

Enterprise Products Partners L.P. (NYSE:EPD) was down 1.6% during mid-day trading on Thursday . The stock traded as low as $36.49 and last traded at $36.6050. Approximately 3,702,725 shares changed hands during mid-day trading, a decline of 23% from the average daily volume of 4,839,299 shares. The stock had previously closed at $37.20.

Analyst Ratings Changes

Several analysts have weighed in on EPD shares. Wolfe Research downgraded Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 price target on the stock. in a research note on Wednesday, January 14th. Wells Fargo & Company lifted their target price on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a report on Thursday, February 5th. Morgan Stanley lowered Enterprise Products Partners from an “equal weight” rating to an “underweight” rating and set a $34.00 target price on the stock. in a research report on Thursday, December 18th. The Goldman Sachs Group reissued a “neutral” rating and set a $32.00 price target on shares of Enterprise Products Partners in a research report on Friday, December 19th. Finally, Jefferies Financial Group restated a “hold” rating and set a $34.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $36.57.

Enterprise Products Partners Trading Down 1.6%

The company has a market cap of $79.13 billion, a price-to-earnings ratio of 13.76, a price-to-earnings-growth ratio of 2.61 and a beta of 0.59. 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 company’s 50-day moving average is $34.59 and its 200 day moving average is $32.69.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Monday, February 2nd. The oil and gas producer reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. Enterprise Products Partners had a net margin of 11.05% and a return on equity of 19.33%. The business had revenue of $13.79 billion during the quarter, compared to the consensus estimate of $12.44 billion. During the same quarter in the prior year, the firm posted $0.74 earnings per share. The company’s revenue was down 2.9% compared to the same quarter last year. Research analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were given a dividend of $0.55 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date was Friday, January 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 6.0%. Enterprise Products Partners’s payout ratio is 82.71%.

Insider Buying and Selling

In related news, Director John R. Rutherford acquired 15,000 shares of the firm’s stock in a transaction on Monday, December 29th. The shares were acquired at an average cost of $32.09 per share, with a total value of $481,350.00. Following the completion of the acquisition, the director directly owned 173,586 shares in the company, valued at approximately $5,570,374.74. This trade represents a 9.46% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 32.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. PMV Capital Advisers LLC purchased a new stake in Enterprise Products Partners during the 4th quarter worth approximately $25,000. Winnow Wealth LLC purchased a new position in shares of Enterprise Products Partners in the second quarter valued at approximately $28,000. Palisade Asset Management LLC acquired a new stake in shares of Enterprise Products Partners in the third quarter worth approximately $31,000. Traub Capital Management LLC purchased a new stake in shares of Enterprise Products Partners during the second quarter worth approximately $31,000. Finally, Texas Capital Bancshares Inc TX acquired a new position in Enterprise Products Partners in the 3rd quarter valued at $32,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

About Enterprise Products Partners

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.