Enterprise Products Partners (NYSE:EPD) Stock Price Down 3% - Here's What Happened
Enterprise Products Partners (NYSE:EPD) saw its stock price decline by 3% to $28.21, with trading volume down 21% from average levels. Analysts have mixed ratings, with a consensus price target of $36.89. The company reported earnings of $0.74 per share, exceeding estimates, and announced a quarterly dividend of $0.535 per share, yielding 7.31%. Institutional investors have recently adjusted their holdings, reflecting ongoing interest in the stock despite the recent price drop.
Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report)'s stock price dropped 3% on Wednesday . The company traded as low as $28.01 and last traded at $28.21. Approximately 3,419,058 shares traded hands during mid-day trading, a decline of 21% from the average daily volume of 4,325,462 shares. The stock had previously closed at $29.09.
Wall Street Analysts Forecast Growth
- 3 Top-Performing Non-Leveraged ETFs From 2024 and Into 2025
EPD has been the subject of a number of recent research reports. Royal Bank of Canada reissued an "outperform" rating and set a $37.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Truist Financial raised their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a "buy" rating in a research note on Friday, January 3rd. Scotiabank boosted their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a "sector perform" rating in a research report on Thursday, March 6th. Citigroup reaffirmed a "buy" rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Finally, StockNews.com downgraded Enterprise Products Partners from a "buy" rating to a "hold" rating in a report on Monday. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Enterprise Products Partners presently has an average rating of "Moderate Buy" and a consensus price target of $36.89.
Get Our Latest Research Report on EPD
Enterprise Products Partners Stock Performance
- The Only A-Rated Stock with a 7%+ Dividend
The business has a fifty day moving average price of $32.92 and a 200-day moving average price of $31.84. The stock has a market capitalization of $63.44 billion, a P/E ratio of 10.89, a P/E/G ratio of 1.37 and a beta of 0.78. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05.
Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business had revenue of $14.20 billion for the quarter, compared to analysts' expectations of $14.07 billion. During the same quarter in the prior year, the business earned $0.72 EPS. The business's revenue for the quarter was down 2.9% compared to the same quarter last year. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.
Enterprise Products Partners Dividend Announcement
- 3 high-yield values to buy ahead of rate cuts
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be paid a dividend of $0.535 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a yield of 7.31%. Enterprise Products Partners's dividend payout ratio is presently 79.55%.
Hedge Funds Weigh In On Enterprise Products Partners
A number of institutional investors and hedge funds have recently modified their holdings of EPD. Trust Co. of Vermont lifted its holdings in Enterprise Products Partners by 10.0% in the fourth quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer's stock valued at $104,000 after acquiring an additional 300 shares during the period. Griffin Asset Management Inc. boosted its holdings in shares of Enterprise Products Partners by 0.8% in the fourth quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer's stock worth $1,203,000 after buying an additional 305 shares during the last quarter. Evanson Asset Management LLC grew its position in Enterprise Products Partners by 0.4% during the fourth quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer's stock valued at $2,304,000 after buying an additional 306 shares during the period. Smartleaf Asset Management LLC increased its holdings in Enterprise Products Partners by 14.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer's stock valued at $78,000 after buying an additional 308 shares during the last quarter. Finally, Sandbox Financial Partners LLC raised its position in Enterprise Products Partners by 3.2% in the fourth quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer's stock worth $317,000 after acquiring an additional 309 shares during the period. 26.07% of the stock is currently owned by hedge funds and other institutional investors.
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.
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