Enterprise Products Partners (NYSE:EPD) Stock Gets Price Target Cut from JPMorgan Chase & Co.

Enterprise Products Partners (NYSE:EPD) had its target price lowered by JPMorgan Chase & Co. from $43.00 to $42.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the oil and gas producer’s stock.

A number of other equities analysts have also recently commented on the company. UBS Group reaffirmed a “buy” rating and issued a $45.00 target price (up from $38.00) on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Royal Bank Of Canada reissued an “outperform” rating and set a $42.00 price target on shares of Enterprise Products Partners in a report on Tuesday, September 22nd. Stifel Nicolaus initiated coverage on Enterprise Products Partners in a research report on Thursday, September 10th. They issued a “hold” rating and a $40.00 price target for the company. Capital One Financial assumed coverage on Enterprise Products Partners in a research note on Tuesday, September 22nd. They issued an “equal weight” rating and a $42.00 price objective on the stock. Finally, Weiss Ratings downgraded Enterprise Products Partners from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday, October 2nd. Seven research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $40.12.

Enterprise Products Partners Stock Down 1.8%

Shares of EPD stock opened at $36.10 on Thursday. Enterprise Products Partners has a 12 month low of $30.01 and a 12 month high of $40.17. The stock has a market cap of $77.95 billion, a P/E ratio of 12.53, a P/E/G ratio of 1.32 and a beta of 0.50. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 1.00. The company has a 50 day simple moving average of $38.06 and a two-hundred day simple moving average of $37.92.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, topping 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 business had revenue of $18.27 billion for the quarter, compared to the consensus estimate of $13.69 billion. During the same period last year, the firm earned $0.66 earnings per share. The company’s quarterly revenue was up 60.8% on a year-over-year basis. On average, research analysts expect that Enterprise Products Partners will post 3.02 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be paid a dividend of $0.56 per share. The ex-dividend date is Friday, October 30th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 6.2%. Enterprise Products Partners’s payout ratio is 77.78%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of institutional investors have recently bought and sold shares of EPD. Alps Advisors Inc. lifted its position in shares of Enterprise Products Partners by 0.6% in the fourth quarter. Alps Advisors Inc. now owns 42,639,131 shares of the oil and gas producer’s stock valued at $1,367,011,000 after acquiring an additional 260,305 shares in the last quarter. Auto Owners Insurance Co grew its position in shares of Enterprise Products Partners by 3,106.0% during the fourth quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock worth $102,784,000 after purchasing an additional 31,060,000 shares in the last quarter. Energy Income Partners LLC purchased a new stake in shares of Enterprise Products Partners during the second quarter worth about $508,461,000. Bank of America Corp DE bought a new stake in Enterprise Products Partners during the 2nd quarter valued at approximately $416,553,000. Finally, BlackRock Inc. bought a new stake in Enterprise Products Partners during the 2nd quarter valued at approximately $255,325,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners News Roundup

Here are the key news stories impacting Enterprise Products Partners this week:

• Positive Sentiment: Enterprise Products Partners declared a quarterly distribution of $0.56 per unit, or $2.24 annualized, representing an approximately 6.1% yield. Unitholders of record October 30 will receive payment November 13. Enterprise Products Partners dividend announcement
• Positive Sentiment: The partnership provided a tranche update related to its previously announced equity buyback plan, signaling continued capital returns beyond the regular distribution. Enterprise Products Partners equity buyback update
• Positive Sentiment: Recent investor commentary highlights EPD as a potentially attractive income investment, citing dependable midstream cash flows and the sustainability of its dividend. Enterprise Products Partners dividend yield analysis
• Neutral Sentiment: Jim Cramer said he believes investors should own Enterprise Products Partners, but acknowledged that the units have lagged despite a low valuation and high yield. His comments provide support but are opinion-driven rather than a fundamental earnings catalyst. Jim Cramer on Enterprise Products Partners
• Negative Sentiment: Cramer attributed EPD’s weakness to the 30-year Treasury yield. Higher bond yields can pressure rate-sensitive, high-yield partnerships by increasing the relative appeal of fixed-income investments and raising financing costs. Enterprise Products Partners and the 30-year yield
• Negative Sentiment: JPMorgan lowered its price target from $43 to $42 and maintained a neutral rating. Although the revised target still implies upside, the cut limits near-term enthusiasm and reflects a more cautious view of valuation.

About Enterprise Products Partners

Enterprise Products Partners L.P. is a publicly traded master limited partnership that owns and operates midstream energy infrastructure in the United States. The company transports, stores, processes and exports oil, natural gas, natural gas liquids (NGLs), refined products and petrochemicals.

Its operations include pipelines, natural gas processing plants, NGL fractionation facilities, underground storage, marine terminals and export infrastructure. Enterprise serves producers, refiners, petrochemical manufacturers, utilities and other energy customers by connecting major producing regions with domestic and international markets.

Enterprise Products Partners was founded in 1968 and is headquartered in Houston, Texas.