Enterprise Products Partners (NYSE:EPD) Stock Price Down 0.2% After Earnings Miss

Enterprise Products Partners L.P. (NYSE:EPDGet Free Report) traded down 0.2% during mid-day trading on Tuesday following a dissappointing earnings announcement. The company traded as low as $28.98 and last traded at $29.07. 1,886,950 shares were traded during trading, a decline of 56% from the average session volume of 4,265,859 shares. The stock had previously closed at $29.14.

The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The firm had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same period last year, the firm posted $0.60 EPS. The business’s revenue was up 14.8% compared to the same quarter last year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a $0.525 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a yield of 7.30%. Enterprise Products Partners’s dividend payout ratio (DPR) is 80.15%.

Wall Street Analyst Weigh In

EPD has been the subject of several recent research reports. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Truist Financial lifted their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday. Finally, Bank of America initiated coverage on Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price on the stock. One analyst has rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $33.73.

Check Out Our Latest Research Report on Enterprise Products Partners

Institutional Trading of Enterprise Products Partners

A number of institutional investors have recently added to or reduced their stakes in EPD. Hantz Financial Services Inc. bought a new position in shares of Enterprise Products Partners in the second quarter valued at approximately $25,000. Palisade Asset Management LLC acquired a new stake in shares of Enterprise Products Partners during the 1st quarter worth about $29,000. Mascoma Wealth Management LLC acquired a new position in shares of Enterprise Products Partners in the 2nd quarter worth approximately $29,000. DiNuzzo Private Wealth Inc. raised its holdings in shares of Enterprise Products Partners by 1,000.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 1,000 shares during the last quarter. Finally, MFA Wealth Advisors LLC bought a new position in Enterprise Products Partners in the 2nd quarter worth approximately $37,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Down 1.7 %

The firm has a 50 day moving average price of $29.24 and a 200-day moving average price of $28.95. The firm has a market cap of $62.40 billion, a price-to-earnings ratio of 10.97, a price-to-earnings-growth ratio of 1.32 and a beta of 1.03. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68.

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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