Enterprise Products Partners (NYSE:EPD) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Enterprise Products Partners (NYSE:EPD) from a hold rating to a buy rating in a report issued on Saturday morning.

Several other brokerages have also issued reports on EPD. Citigroup restated a “buy” rating and set a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. 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 research report on Monday, August 3rd. Wolfe Research upgraded Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. UBS Group reiterated a “buy” rating and set a $45.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $38.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Eight investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $39.93.

Enterprise Products Partners Stock Down 0.7%

NYSE:EPD opened at $37.79 on Friday. The business’s fifty day moving average price is $37.54 and its 200 day moving average price is $37.16. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $81.70 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 1.36 and a beta of 0.49. Enterprise Products Partners has a 1-year low of $30.01 and a 1-year high of $40.17.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, topping the consensus estimate of $0.75 by $0.09. The company had revenue of $18.27 billion during the quarter, compared to the consensus estimate of $13.69 billion. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.80%. The company’s revenue for the quarter was up 60.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.66 earnings per share. On average, sell-side analysts forecast that Enterprise Products Partners will post 2.96 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend is Friday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 77.78%.

Institutional Trading of Enterprise Products Partners

Hedge funds and other institutional investors have recently modified their holdings of the stock. Brighton Jones LLC lifted its stake in Enterprise Products Partners by 19.9% in the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock valued at $1,023,000 after acquiring an additional 5,425 shares during the last quarter. Schnieders Capital Management LLC. raised its holdings in shares of Enterprise Products Partners by 9.3% in the 2nd quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer’s stock valued at $1,827,000 after purchasing an additional 5,000 shares during the period. Geode Capital Management LLC grew its holdings in Enterprise Products Partners by 6.2% during the second quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer’s stock worth $1,975,000 after purchasing an additional 3,742 shares during the period. Guggenheim Capital LLC increased its position in Enterprise Products Partners by 6.1% during the second quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer’s stock worth $847,000 after buying an additional 1,578 shares during the last quarter. Finally, Glenview Trust co raised its stake in Enterprise Products Partners by 315.8% in the second quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer’s stock valued at $1,043,000 after buying an additional 25,555 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.