Enterprise Products Partners (NYSE:EPD) Trading Down 0.6% After Analyst Downgrade

Enterprise Products Partners L.P. (NYSE:EPD) traded down 0.6% during mid-day trading on Tuesday after Barclays lowered their price target on the stock from $37.00 to $36.00. Barclays currently has an overweight rating on the stock. Enterprise Products Partners traded as low as $32.36 and last traded at $32.35. 726,139 shares were traded during mid-day trading, a decline of 83% from the average session volume of 4,382,579 shares. The stock had previously closed at $32.55.

EPD has been the subject of a number of other reports. Scotiabank increased their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 6th. Morgan Stanley raised their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 11th. Citigroup cut their target price on shares of Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, May 13th. JPMorgan Chase & Co. raised their target price on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. Finally, Argus raised shares of Enterprise Products Partners to a “strong-buy” rating in a research note on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.56.

Hedge Funds Weigh In On Enterprise Products Partners

Several institutional investors have recently bought and sold shares of the business. Focus Partners Wealth lifted its position in Enterprise Products Partners by 68.0% during the first quarter. Focus Partners Wealth now owns 836,936 shares of the oil and gas producer’s stock valued at $28,573,000 after purchasing an additional 338,620 shares during the last quarter. Integrity Alliance LLC. bought a new position in Enterprise Products Partners during the first quarter valued at $3,780,000. Anchor Investment Management LLC lifted its position in Enterprise Products Partners by 2.8% during the first quarter. Anchor Investment Management LLC now owns 36,335 shares of the oil and gas producer’s stock valued at $1,240,000 after purchasing an additional 1,000 shares during the last quarter. SCS Capital Management LLC bought a new position in Enterprise Products Partners during the first quarter valued at $2,139,000. Finally, Legacy Advisory Services LLC bought a new stake in shares of Enterprise Products Partners in the 1st quarter worth about $294,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 1.0%

The company’s fifty day moving average price is $31.61 and its 200-day moving average price is $32.18. The stock has a market cap of $69.88 billion, a P/E ratio of 11.98, a price-to-earnings-growth ratio of 1.37 and a beta of 0.67. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.05). The firm had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.14 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. Enterprise Products Partners’s revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.66 EPS. Equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were issued a $0.535 dividend. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $2.14 annualized dividend and a dividend yield of 6.64%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.15%.

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.