Vetr Inc. Downgrades Enterprise Products Partners L.P. (EPD) to Buy
Enterprise Products Partners L.P. (NYSE:EPD) was downgraded by Vetr from a “strong-buy” rating to a “buy” rating in a research report issued on Monday. They currently have a $30.72 price target on the stock. Vetr‘s target price would suggest a potential upside of 11.95% from the company’s current price.
Several other brokerages also recently commented on EPD. Credit Suisse Group AG reiterated a “hold” rating on shares of Enterprise Products Partners L.P. in a report on Friday, July 29th. Royal Bank Of Canada restated an “outperform” rating and set a $34.00 price objective on shares of Enterprise Products Partners L.P. in a report on Friday, July 29th. Morgan Stanley downgraded Enterprise Products Partners L.P. from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $33.00 to $30.00 in a report on Thursday, August 18th. Mizuho assumed coverage on Enterprise Products Partners L.P. in a report on Thursday, September 29th. They set a “buy” rating and a $32.00 price objective on the stock. Finally, Deutsche Bank AG dropped their price objective on Enterprise Products Partners L.P. from $34.00 to $32.00 and set a “buy” rating on the stock in a report on Monday. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $31.99.
Shares of Enterprise Products Partners L.P. (NYSE:EPD) traded up 2.08% during mid-day trading on Monday, reaching $27.44. 2,863,601 shares of the company’s stock were exchanged. Enterprise Products Partners L.P. has a 52 week low of $19.00 and a 52 week high of $30.11. The stock has a market cap of $57.39 billion, a price-to-earnings ratio of 21.92 and a beta of 0.93. The stock has a 50 day moving average price of $26.84 and a 200 day moving average price of $27.14.
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Enterprise Products Partners L.P. (NYSE:EPD) last announced its earnings results on Thursday, July 28th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.31 by $0.04. The company had revenue of $5.62 billion for the quarter, compared to analysts’ expectations of $5.62 billion. Enterprise Products Partners L.P. had a net margin of 11.06% and a return on equity of 12.45%. The business’s quarterly revenue was down 20.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.34 earnings per share. Equities research analysts predict that Enterprise Products Partners L.P. will post $1.25 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 7th. Stockholders of record on Monday, October 31st will be paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 5.90%. This is an increase from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.40. Enterprise Products Partners L.P.’s payout ratio is currently 128.00%.
Hedge funds have recently bought and sold shares of the company. Johnson Financial Group Inc. increased its stake in Enterprise Products Partners L.P. by 94.3% in the second quarter. Johnson Financial Group Inc. now owns 3,621 shares of the company’s stock worth $106,000 after buying an additional 1,757 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in Enterprise Products Partners L.P. during the second quarter worth approximately $116,000. Hanson McClain Inc. increased its stake in Enterprise Products Partners L.P. by 52.9% in the second quarter. Hanson McClain Inc. now owns 3,970 shares of the company’s stock worth $116,000 after buying an additional 1,374 shares in the last quarter. Baker Ellis Asset Management LLC purchased a new stake in Enterprise Products Partners L.P. during the second quarter worth approximately $117,000. Finally, Kelman Lazarov Inc. increased its stake in Enterprise Products Partners L.P. by 34.1% in the second quarter. Kelman Lazarov Inc. now owns 4,134 shares of the company’s stock worth $120,000 after buying an additional 1,052 shares in the last quarter. 35.68% of the stock is currently owned by institutional investors.
About Enterprise Products Partners L.P.
Enterprise Products Partners L.P. (Enterprise) is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals and refined products in North America. The Company’s segments include NGL Pipelines & Services; Crude Oil Pipelines & Services; Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
To view Vetr’s full report, visit Vetr’s official website.
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