Enterprise Products Partners L.P. (NYSE:EPD) Receives Average Rating of “Buy” from Brokerages

Enterprise Products Partners L.P. (NYSE:EPD) has been given a consensus rating of “Buy” by the eleven ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $34.00.

A number of research analysts have recently weighed in on EPD shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Bank of America initiated coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target on the stock. Finally, 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, October 28th.

Hedge Funds Weigh In On Enterprise Products Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC boosted its position in shares of Enterprise Products Partners by 2,862.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after acquiring an additional 7,494,224 shares during the last quarter. Barclays PLC lifted its position in Enterprise Products Partners by 110.0% during the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock valued at $73,699,000 after purchasing an additional 1,326,010 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Enterprise Products Partners by 2,854.1% in the 3rd quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock worth $37,474,000 after buying an additional 1,243,741 shares in the last quarter. FMR LLC increased its holdings in shares of Enterprise Products Partners by 9.3% in the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after buying an additional 1,225,988 shares during the last quarter. Finally, Merewether Investment Management LP purchased a new stake in shares of Enterprise Products Partners during the 3rd quarter valued at about $30,746,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Down 0.6 %

Shares of EPD stock opened at $32.20 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. Enterprise Products Partners has a 12 month low of $26.02 and a 12 month high of $34.63. The stock has a market cap of $69.80 billion, a P/E ratio of 12.06, a P/E/G ratio of 1.67 and a beta of 1.08. The company has a 50 day simple moving average of $30.79 and a two-hundred day simple moving average of $29.64.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). The company had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter last year, the company earned $0.60 earnings per share. On average, research analysts expect that Enterprise Products Partners will post 2.69 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.52%. Enterprise Products Partners’s payout ratio is 78.65%.

Enterprise Products Partners Company Profile

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.