Enterprise Products Partners (NYSE:EPD) Upgraded at StockNews.com

StockNews.com upgraded shares of Enterprise Products Partners (NYSE:EPD) from a hold rating to a buy rating in a research report report published on Thursday.

A number of other brokerages also recently commented on EPD. JPMorgan Chase & Co. increased their price target on Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $37.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Argus upgraded shares of Enterprise Products Partners to a “strong-buy” rating in a report on Monday, May 5th. Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Finally, Barclays increased their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.89.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $31.10 on Thursday. Enterprise Products Partners has a twelve month low of $27.37 and a twelve month high of $34.63. The stock’s 50 day moving average is $31.77 and its 200-day moving average is $32.03. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $67.35 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 1.37 and a beta of 0.67.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.05). Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.14 billion. During the same period in the prior year, the firm posted $0.66 earnings per share. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. Sell-side analysts forecast that Enterprise Products Partners will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be paid a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a yield of 6.88%. The ex-dividend date is Wednesday, April 30th. Enterprise Products Partners’s payout ratio is 80.15%.

Institutional Trading of Enterprise Products Partners

Institutional investors and hedge funds have recently bought and sold shares of the company. Trust Co. of Vermont increased its holdings in shares of Enterprise Products Partners by 10.0% in the 4th quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer’s stock worth $104,000 after purchasing an additional 300 shares in the last quarter. Griffin Asset Management Inc. increased its holdings in Enterprise Products Partners by 0.8% in the 4th quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer’s stock worth $1,203,000 after buying an additional 305 shares in the last quarter. Evanson Asset Management LLC raised its position in Enterprise Products Partners by 0.4% in the 4th quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer’s stock worth $2,304,000 after buying an additional 306 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in Enterprise Products Partners by 14.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer’s stock valued at $78,000 after acquiring an additional 308 shares during the period. Finally, Sandbox Financial Partners LLC boosted its holdings in shares of Enterprise Products Partners by 3.2% during the 4th quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer’s stock valued at $317,000 after acquiring an additional 309 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.