Enterprise Products Partners (NYSE:EPD) Trading Down 0.1% on Analyst Downgrade

Enterprise Products Partners L.P. (NYSE:EPDGet Free Report) shares were down 0.1% during mid-day trading on Monday after Morgan Stanley lowered their price target on the stock from $35.00 to $34.00. Morgan Stanley currently has an equal weight rating on the stock. Enterprise Products Partners traded as low as $28.32 and last traded at $28.33. Approximately 685,425 shares changed hands during trading, a decline of 85% from the average daily volume of 4,660,022 shares. The stock had previously closed at $28.35.

Other analysts have also recently issued reports about the company. Wells Fargo & Company increased their price objective on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Truist Financial increased their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Barclays boosted their price objective on Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 26th. Royal Bank of Canada restated an “outperform” rating and set a $35.00 target price on shares of Enterprise Products Partners in a research note on Friday, April 5th. Finally, Scotiabank lifted their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $32.77.

Get Our Latest Stock Analysis on EPD

Hedge Funds Weigh In On Enterprise Products Partners

Several large investors have recently bought and sold shares of the stock. Tactive Advisors LLC lifted its stake in Enterprise Products Partners by 12.4% in the first quarter. Tactive Advisors LLC now owns 18,991 shares of the oil and gas producer’s stock valued at $554,000 after buying an additional 2,098 shares during the last quarter. Granite Group Advisors LLC grew its position in shares of Enterprise Products Partners by 5.3% during the first quarter. Granite Group Advisors LLC now owns 10,075 shares of the oil and gas producer’s stock worth $294,000 after acquiring an additional 505 shares during the last quarter. Pathway Financial Advisers LLC acquired a new position in shares of Enterprise Products Partners in the 1st quarter valued at $7,590,000. Cetera Advisors LLC raised its position in Enterprise Products Partners by 60.5% in the 1st quarter. Cetera Advisors LLC now owns 355,053 shares of the oil and gas producer’s stock valued at $10,360,000 after purchasing an additional 133,904 shares during the last quarter. Finally, Cetera Investment Advisers boosted its stake in Enterprise Products Partners by 402.2% during the 1st quarter. Cetera Investment Advisers now owns 806,279 shares of the oil and gas producer’s stock worth $23,527,000 after purchasing an additional 645,714 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.68 and a current ratio of 0.93. The company has a market capitalization of $61.95 billion, a PE ratio of 11.19, a P/E/G ratio of 1.32 and a beta of 1.03. The company’s 50-day simple moving average is $28.66 and its 200-day simple moving average is $27.69.

Enterprise Products Partners (NYSE:EPDGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. The firm had revenue of $14.76 billion for the quarter, compared to analyst estimates of $13.82 billion. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. The business’s revenue was up 18.6% on a year-over-year basis. During the same quarter last year, the company posted $0.64 earnings per share. As a group, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th were issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.22%. The ex-dividend date of this dividend was Monday, April 29th. Enterprise Products Partners’s payout ratio is currently 80.78%.

Enterprise Products Partners Company Profile

(Get Free Report)

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.

Recommended Stories

Receive News & Ratings for Enterprise Products Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enterprise Products Partners and related companies with MarketBeat.com's FREE daily email newsletter.