Enterprise Products Partners (NYSE:EPD) Shares Down 1% After Earnings Miss

Enterprise Products Partners L.P. (NYSE:EPD)’s share price traded down 1% during trading on Tuesday after the company announced weaker than expected quarterly earnings. The company traded as low as $30.45 and last traded at $31.06. 3,601,249 shares traded hands during mid-day trading, a decline of 17% from the average session volume of 4,365,024 shares. The stock had previously closed at $31.37.

The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.05). The business had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.14 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.66 EPS.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be issued a $0.535 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $2.14 annualized dividend and a dividend yield of 6.95%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 79.55%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Scotiabank boosted their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Morgan Stanley upped their price objective on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 11th. Truist Financial raised their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Finally, JPMorgan Chase & Co. upped their price target on Enterprise Products Partners from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and an average price target of $36.89.

Hedge Funds Weigh In On Enterprise Products Partners

A number of institutional investors and hedge funds have recently bought and sold shares of EPD. Rosenberg Matthew Hamilton boosted its holdings in shares of Enterprise Products Partners by 364.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 656 shares during the last quarter. Tidemark LLC boosted its stake in Enterprise Products Partners by 54.3% during the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock worth $28,000 after buying an additional 318 shares during the last quarter. Lee Danner & Bass Inc. acquired a new position in Enterprise Products Partners during the fourth quarter worth $29,000. Crowley Wealth Management Inc. acquired a new stake in shares of Enterprise Products Partners in the 4th quarter worth $30,000. Finally, Security National Bank purchased a new position in shares of Enterprise Products Partners during the 1st quarter worth $30,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Performance

The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The firm’s 50-day moving average price is $32.26 and its two-hundred day moving average price is $31.97. The stock has a market cap of $66.73 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 1.37 and a beta of 0.78.

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.