Piper Jaffray Companies started coverage on shares of Enterprise Products Partners (NYSE:EPD) in a report released on Wednesday, Benzinga reports. The firm issued an overweight rating and a $37.00 price target on the oil and gas producer’s stock. Piper Jaffray Companies also issued estimates for Enterprise Products Partners’ Q2 2019 earnings at $0.55 EPS, Q3 2019 earnings at $0.55 EPS, Q4 2019 earnings at $0.56 EPS, Q1 2020 earnings at $0.57 EPS, Q2 2020 earnings at $0.57 EPS, Q3 2020 earnings at $0.59 EPS, Q4 2020 earnings at $0.60 EPS, FY2020 earnings at $2.33 EPS and FY2021 earnings at $2.49 EPS.
Several other equities research analysts also recently weighed in on EPD. Goldman Sachs Group reiterated a buy rating and set a GBX 265 ($3.46) target price on shares of Tesco in a research note on Tuesday, April 2nd. Zacks Investment Research downgraded shares of Hollysys Automation Technologies from a hold rating to a sell rating in a research note on Thursday, April 11th. Finally, Johnson Rice started coverage on shares of Enterprise Products Partners in a research note on Thursday, May 30th. They set a buy rating and a $35.00 target price for the company. One investment analyst has rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Buy and an average target price of $33.56.
NYSE EPD opened at $30.20 on Wednesday. The company has a quick ratio of 0.58, a current ratio of 0.77 and a debt-to-equity ratio of 0.99. Enterprise Products Partners has a 1 year low of $23.33 and a 1 year high of $30.82. The firm has a market capitalization of $66.09 billion, a P/E ratio of 15.57, a PEG ratio of 3.56 and a beta of 0.88. The company has a fifty day moving average of $29.12.
Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Wednesday, May 1st. The oil and gas producer reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.09. Enterprise Products Partners had a net margin of 12.67% and a return on equity of 19.50%. The company had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $9.23 billion. During the same quarter in the prior year, the firm posted $0.41 earnings per share. Enterprise Products Partners’s revenue for the quarter was down 8.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Enterprise Products Partners will post 2.12 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 13th. Investors of record on Wednesday, July 31st will be given a $0.44 dividend. The ex-dividend date is Tuesday, July 30th. This represents a $1.76 dividend on an annualized basis and a yield of 5.83%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.44. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 90.21%.
A number of large investors have recently made changes to their positions in EPD. Deutsche Bank AG lifted its position in Enterprise Products Partners by 71.9% in the fourth quarter. Deutsche Bank AG now owns 11,279,445 shares of the oil and gas producer’s stock valued at $277,359,000 after purchasing an additional 4,719,647 shares during the period. Bank of Montreal Can lifted its position in Enterprise Products Partners by 86.9% in the first quarter. Bank of Montreal Can now owns 8,937,630 shares of the oil and gas producer’s stock valued at $260,084,000 after purchasing an additional 4,156,710 shares during the period. BlackRock Inc. increased its holdings in Enterprise Products Partners by 10.9% in the first quarter. BlackRock Inc. now owns 16,970,293 shares of the oil and gas producer’s stock valued at $493,835,000 after buying an additional 1,665,379 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Enterprise Products Partners by 27.6% in the first quarter. Wells Fargo & Company MN now owns 6,200,604 shares of the oil and gas producer’s stock valued at $180,437,000 after buying an additional 1,341,023 shares in the last quarter. Finally, Ronna Sue Cohen increased its holdings in Enterprise Products Partners by 2,830.8% in the first quarter. Ronna Sue Cohen now owns 1,312,120 shares of the oil and gas producer’s stock valued at $1,312,000 after buying an additional 1,267,350 shares in the last quarter. Hedge funds and other institutional investors own 36.69% of the company’s stock.
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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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