Enterprise Products Partners L.P. (NYSE:EPD) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Enterprise Products Partners L.P. (NYSE:EPD) have been assigned a consensus rating of “Moderate Buy” from the fifteen brokerages that are currently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $35.9091.

EPD has been the subject of several recent research reports. Scotiabank lowered their price objective on shares of Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 4th. Citigroup reissued a “buy” rating and issued a $36.00 price target (up previously from $35.00) on shares of Enterprise Products Partners in a research report on Tuesday. Morgan Stanley set a $34.00 price target on shares of Enterprise Products Partners and gave the stock an “equal weight” rating in a research note on Tuesday, December 2nd. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a research note on Monday, December 1st. Finally, Stifel Nicolaus lifted their target price on Enterprise Products Partners from $35.00 to $38.00 and gave the company a “buy” rating in a report on Friday, October 31st.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arete Wealth Advisors LLC increased its holdings in Enterprise Products Partners by 1.5% in the 3rd quarter. Arete Wealth Advisors LLC now owns 21,145 shares of the oil and gas producer’s stock worth $661,000 after purchasing an additional 317 shares in the last quarter. Verus Capital Partners LLC grew its holdings in shares of Enterprise Products Partners by 1.0% during the second quarter. Verus Capital Partners LLC now owns 32,311 shares of the oil and gas producer’s stock worth $1,002,000 after purchasing an additional 328 shares during the last quarter. Next Capital Management LLC increased its stake in shares of Enterprise Products Partners by 2.3% in the second quarter. Next Capital Management LLC now owns 14,625 shares of the oil and gas producer’s stock valued at $454,000 after buying an additional 332 shares during the period. Patrick M Sweeney & Associates Inc. raised its holdings in Enterprise Products Partners by 2.9% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 11,978 shares of the oil and gas producer’s stock valued at $375,000 after buying an additional 334 shares during the last quarter. Finally, Per Stirling Capital Management LLC. boosted its position in Enterprise Products Partners by 1.5% during the 1st quarter. Per Stirling Capital Management LLC. now owns 23,556 shares of the oil and gas producer’s stock worth $804,000 after buying an additional 339 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

EPD stock opened at $31.79 on Wednesday. The business’s fifty day moving average price is $31.57 and its 200 day moving average price is $31.53. Enterprise Products Partners has a 12-month low of $27.77 and a 12-month high of $34.53. The company has a current ratio of 0.88, a quick ratio of 0.60 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $68.76 billion, a PE ratio of 11.99, a P/E/G ratio of 2.47 and a beta of 0.59.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Wednesday, October 29th. The oil and gas producer reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.07). The firm had revenue of $12.02 billion for the quarter, compared to analysts’ expectations of $11.83 billion. Enterprise Products Partners had a net margin of 10.92% and a return on equity of 19.40%. The business’s revenue was down 12.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.65 earnings per share. On average, sell-side analysts anticipate that Enterprise Products Partners will post 2.9 EPS for the current year.

Enterprise Products Partners declared that its Board of Directors has approved a share buyback program on Thursday, October 30th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the oil and gas producer to purchase up to 7.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 31st were given a dividend of $0.545 per share. The ex-dividend date of this dividend was Friday, October 31st. This represents a $2.18 dividend on an annualized basis and a dividend yield of 6.9%. Enterprise Products Partners’s payout ratio is currently 82.26%.

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.