Wall Street Zen upgraded shares of Enterprise Products Partners (NYSE:EPD – Free Report) from a buy rating to a strong-buy rating in a research note released on Saturday morning,Wall Street Zen reports.
EPD has been the subject of a number of other research reports. Weiss Ratings downgraded shares of Enterprise Products Partners from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, October 2nd. TD Cowen reiterated a “hold” rating and issued a $38.00 price objective (down from $39.00) on shares of Enterprise Products Partners in a report on Monday, August 3rd. Capital One Financial assumed coverage on Enterprise Products Partners in a research report on Tuesday, September 22nd. They issued an “equal weight” rating and a $42.00 price objective for the company. Morgan Stanley reiterated an “underweight” rating and issued a $41.00 price objective (up from $40.00) on shares of Enterprise Products Partners in a research report on Tuesday, August 18th. Finally, Melius Research started coverage on Enterprise Products Partners in a research note on Tuesday, September 22nd. They set a “hold” rating and a $42.00 target price for the company. Seven investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $40.12.
Read Our Latest Report on Enterprise Products Partners
Enterprise Products Partners Price Performance
Enterprise Products Partners stock opened at $36.80 on Friday. Enterprise Products Partners has a 12-month low of $30.02 and a 12-month high of $40.17. The stock has a market cap of $79.46 billion, a P/E ratio of 12.78, a PEG ratio of 1.34 and a beta of 0.50. The company has a 50-day moving average price of $37.85 and a 200 day moving average price of $37.81. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 1.00.
Enterprise Products Partners (NYSE:EPD – Get Free Report) last posted its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.09. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The company had revenue of $18.27 billion for the quarter, compared to analyst estimates of $13.69 billion. During the same period in the previous year, the business posted $0.66 EPS. Enterprise Products Partners’s revenue was up 60.8% on a year-over-year basis. Sell-side analysts anticipate that Enterprise Products Partners will post 3.02 earnings per share for the current year.
Enterprise Products Partners Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 6.1%. The ex-dividend date of this dividend is Friday, October 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is 77.78%.
Institutional Investors Weigh In On Enterprise Products Partners
A number of institutional investors have recently made changes to their positions in EPD. CWA Asset Management Group LLC boosted its position in Enterprise Products Partners by 7.2% in the 3rd quarter. CWA Asset Management Group LLC now owns 35,476 shares of the oil and gas producer’s stock valued at $1,263,000 after buying an additional 2,383 shares during the period. CFS Investment Advisory Services LLC acquired a new position in shares of Enterprise Products Partners in the third quarter worth $270,000. Maia Wealth LLC grew its stake in shares of Enterprise Products Partners by 7.3% in the third quarter. Maia Wealth LLC now owns 22,158 shares of the oil and gas producer’s stock worth $789,000 after acquiring an additional 1,511 shares in the last quarter. Clark Financial Services Group Inc. BD increased its position in shares of Enterprise Products Partners by 16.2% during the third quarter. Clark Financial Services Group Inc. BD now owns 15,304 shares of the oil and gas producer’s stock worth $545,000 after acquiring an additional 2,131 shares during the period. Finally, Prairie Advisory LLC increased its position in shares of Enterprise Products Partners by 95.6% during the third quarter. Prairie Advisory LLC now owns 30,224 shares of the oil and gas producer’s stock worth $1,076,000 after acquiring an additional 14,774 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.
Enterprise Products Partners Company Profile
Enterprise Products Partners L.P. (NYSE: EPD) is a North American midstream energy partnership headquartered in Houston, Texas. The company provides infrastructure and services for the transportation, storage, processing and export of energy products, connecting producers with domestic and international markets.
Its operations include pipelines, storage facilities, natural gas processing plants, natural gas liquids (NGL) fractionation facilities, and marine terminals. Enterprise handles NGLs such as ethane, propane, butanes and natural gasoline, as well as crude oil, refined products, petrochemicals and natural gas.
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