Enterprise Products Partners L.P. Given “Positive” Rating at Deutsche Bank (EPD)
The analysts wrote, “This morning EPD reported 2Q’14 ebitda of $1.243 billion, up 13% from year ago levels. This exceeded our estimate of $1.215 billion and consensus of $1.235 billion. The distribution coverage of 1.4x was inline with our estimate. In the quarter, the stronger than expected performances at the Petrochemical Services were offset by decline in the NGL Marketing due to lower margins and downtime at the terminals and decline in the Crude Oil Marketing driven by narrowing crude differentials. Maintain Buy.”
A number of other firms have also recently commented on EPD. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Enterprise Products Partners L.P. in a research note on Tuesday. They now have a $90.00 price target on the stock, up previously from $77.00. Separately, analysts at Global Hunter Securities initiated coverage on shares of Enterprise Products Partners L.P. in a research note on Tuesday, June 3rd. They set a “buy” rating and a $83.00 price target on the stock. Finally, analysts at Jefferies Group raised their price target on shares of Enterprise Products Partners L.P. from $75.00 to $76.00 in a research note on Tuesday, June 3rd. They now have a “hold” rating on the stock. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $79.36.
Enterprise Products Partners L.P. (NYSE:EPD) traded down 0.21% on Friday, hitting $74.44. The stock had a trading volume of 1,082,615 shares. Enterprise Products Partners L.P. has a one year low of $57.65 and a one year high of $79.70. The stock has a 50-day moving average of $77.0 and a 200-day moving average of $71.58. The company has a market cap of $69.581 billion and a P/E ratio of 26.23. Shares of Enterprise Products Partners L.P. are scheduled to split on the morning of Friday, August 22nd. The 2-1 split was announced on Tuesday, July 15th. The newly issued shares will be distributed to shareholders after the closing bell on Thursday, August 21st.
Enterprise Products Partners L.P. (NYSE:EPD) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.68 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.74 by $0.06. The company had revenue of $12.52 billion for the quarter, compared to the consensus estimate of $12.88 billion. During the same quarter last year, the company posted $0.65 earnings per share. Enterprise Products Partners L.P.’s revenue was up 12.3% compared to the same quarter last year. On average, analysts predict that Enterprise Products Partners L.P. will post $3.14 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 7th. Shareholders of record on Thursday, July 31st will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 3.86%. The ex-dividend date is Tuesday, July 29th. This is a positive change from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.71.
Enterprise Products Partners L.P. (NYSE:EPD) owns and operates natural gas liquids (NGLs) related businesses of Enterprise Products Company (EPCO).
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