Enterprise Products Partners (NYSE:EPD) Trading Down 1.4% – Should You Sell?

Enterprise Products Partners L.P. (NYSE:EPD) traded down 1.4% during mid-day trading on Wednesday . The stock traded as low as $38.04 and last traded at $38.0860. Approximately 3,386,560 shares changed hands during mid-day trading, a decline of 17% from the average session volume of 4,097,122 shares. The stock had previously closed at $38.64.

Analyst Upgrades and Downgrades

EPD has been the topic of several recent analyst reports. Stifel Nicolaus upped their price target on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Wolfe Research raised shares of Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Citigroup reaffirmed a “buy” rating and issued a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Scotiabank restated a “sector perform” rating and set a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. Finally, Wall Street Zen upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Sunday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $40.00.

Enterprise Products Partners Stock Performance

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 firm has a 50 day moving average of $37.63 and a two-hundred day moving average of $37.44. The stock has a market cap of $82.25 billion, a P/E ratio of 13.22, a P/E/G ratio of 1.30 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $18.27 billion during the quarter, compared to analyst estimates of $13.69 billion. During the same period in the previous year, the company earned $0.66 earnings per share. The company’s quarterly revenue was up 60.8% compared to the same quarter last year. On average, research analysts predict that Enterprise Products Partners L.P. will post 2.98 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were given 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 dividend yield of 5.9%. The ex-dividend date of this dividend was Friday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 77.78%.

Institutional Investors Weigh In On Enterprise Products Partners

Several hedge funds have recently made changes to their positions in EPD. Brighton Jones LLC increased its stake in Enterprise Products Partners by 19.9% during the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock valued at $1,023,000 after acquiring an additional 5,425 shares during the period. Schnieders Capital Management LLC. grew its holdings in shares of Enterprise Products Partners by 9.3% during the 2nd quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer’s stock worth $1,827,000 after purchasing an additional 5,000 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Enterprise Products Partners by 6.2% during the 2nd quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer’s stock worth $1,975,000 after purchasing an additional 3,742 shares in the last quarter. Guggenheim Capital LLC increased its position in shares of Enterprise Products Partners by 6.1% during the second quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer’s stock valued at $847,000 after purchasing an additional 1,578 shares during the period. Finally, Glenview Trust co increased its position in shares of Enterprise Products Partners by 315.8% during the second quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer’s stock valued at $1,043,000 after purchasing an additional 25,555 shares during the period. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Company Profile

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.