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

Shares of Enterprise Products Partners L.P. (NYSE:EPD) fell 0.7% during trading on Tuesday . The stock traded as low as $28.24 and last traded at $28.31. 1,641,362 shares traded hands during trading, a decline of 66% from the average session volume of 4,897,837 shares. The stock had previously closed at $28.51.

Analyst Upgrades and Downgrades

EPD has been the subject of several research reports. Barclays boosted their price objective on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 26th. StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 9th. Stifel Nicolaus upped their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $35.00 target price on shares of Enterprise Products Partners in a research note on Friday, April 5th. Finally, Wells Fargo & Company increased their price objective on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners has an average rating of “Buy” and an average price target of $32.58.

Enterprise Products Partners Stock Performance

The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93. The company’s 50 day simple moving average is $28.18 and its 200 day simple moving average is $27.23. The stock has a market cap of $61.60 billion, a price-to-earnings ratio of 11.25 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.04. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The company had revenue of $14.62 billion during the quarter, compared to analyst estimates of $12.43 billion. During the same quarter last year, the firm posted $0.65 EPS. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.62 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be issued a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 7.25%. The ex-dividend date of this dividend is Monday, April 29th. Enterprise Products Partners’s payout ratio is 81.75%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of institutional investors have recently modified their holdings of EPD. Hazlett Burt & Watson Inc. grew its position in shares of Enterprise Products Partners by 8.2% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 4,897 shares of the oil and gas producer’s stock worth $128,000 after buying an additional 371 shares during the period. Ellsworth Advisors LLC grew its position in shares of Enterprise Products Partners by 1.9% in the 3rd quarter. Ellsworth Advisors LLC now owns 20,780 shares of the oil and gas producer’s stock valued at $573,000 after purchasing an additional 380 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of Enterprise Products Partners by 3.3% in the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 11,969 shares of the oil and gas producer’s stock valued at $328,000 after purchasing an additional 386 shares during the period. Register Financial Advisors LLC grew its position in shares of Enterprise Products Partners by 2.3% in the 4th quarter. Register Financial Advisors LLC now owns 17,320 shares of the oil and gas producer’s stock valued at $456,000 after purchasing an additional 397 shares during the period. Finally, Your Advocates Ltd. LLP grew its position in shares of Enterprise Products Partners by 1.9% in the 3rd quarter. Your Advocates Ltd. LLP now owns 22,481 shares of the oil and gas producer’s stock valued at $615,000 after purchasing an additional 412 shares during the period. Institutional investors own 26.07% of the company’s stock.

About Enterprise Products Partners

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.