Enterprise Products Partners (NYSE:EPD) Stock Price Down 0.6% on Analyst Downgrade

Enterprise Products Partners L.P. (NYSE:EPD)’s share price dropped 0.6% 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. Approximately 726,139 shares changed hands during trading, a decline of 83% from the average daily volume of 4,382,579 shares. The stock had previously closed at $32.55.

Several other research analysts also recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. Royal Bank of Canada restated an “outperform” rating and set a $37.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Argus upgraded shares of Enterprise Products Partners to a “strong-buy” rating in a report on Monday, May 5th. Citigroup lowered their target price on shares of Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. Finally, Morgan Stanley raised their price target on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 11th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $36.56.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of EPD. Barclays PLC boosted its holdings in shares of Enterprise Products Partners by 110.0% in the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock worth $73,699,000 after acquiring an additional 1,326,010 shares in the last quarter. Koshinski Asset Management Inc. acquired a new position in Enterprise Products Partners during the 4th quarter worth $228,000. Chesley Taft & Associates LLC lifted its holdings in Enterprise Products Partners by 50.8% during the 4th quarter. Chesley Taft & Associates LLC now owns 19,600 shares of the oil and gas producer’s stock worth $615,000 after buying an additional 6,600 shares in the last quarter. Fort Washington Investment Advisors Inc. OH lifted its holdings in Enterprise Products Partners by 8.4% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 236,515 shares of the oil and gas producer’s stock worth $7,417,000 after buying an additional 18,400 shares in the last quarter. Finally, Beaumont Financial Advisors LLC lifted its holdings in Enterprise Products Partners by 2.5% during the 4th quarter. Beaumont Financial Advisors LLC now owns 14,612 shares of the oil and gas producer’s stock worth $458,000 after buying an additional 350 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Performance

The firm has a fifty day simple moving average of $31.58 and a 200-day simple moving average of $32.18. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The stock has a market cap of $68.92 billion, a price-to-earnings ratio of 11.81, a P/E/G ratio of 1.37 and a beta of 0.67.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data 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). Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.14 billion. During the same period in the prior year, the company posted $0.66 EPS. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. Analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were given a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 6.73%. The ex-dividend date was Wednesday, April 30th. Enterprise Products Partners’s payout ratio is 80.15%.

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.