Enterprise Products Partners L.P. (NYSE:EPD) Given Average Recommendation of “Hold” by Brokerages

Shares of Enterprise Products Partners L.P. (NYSE:EPD) have earned an average rating of “Hold” from the seventeen analysts that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $39.9375.

Several brokerages recently weighed in on EPD. Wells Fargo & Company upgraded Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $40.00 to $42.00 in a research report on Wednesday, March 25th. The Goldman Sachs Group restated a “neutral” rating and set a $38.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Wolfe Research upgraded Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. TD Cowen restated a “hold” rating and issued a $38.00 price target (up from $34.00) on shares of Enterprise Products Partners in a research note on Thursday, April 16th. Finally, Jefferies Financial Group upped their price target on Enterprise Products Partners from $34.00 to $40.00 and gave the stock a “hold” rating in a report on Tuesday, March 31st.

Enterprise Products Partners Price Performance

Shares of EPD opened at $36.77 on Friday. The business’s 50-day moving average is $37.75 and its two-hundred day moving average is $36.11. The company has a market capitalization of $79.49 billion, a P/E ratio of 13.62, a P/E/G ratio of 1.30 and a beta of 0.49. Enterprise Products Partners has a fifty-two week low of $30.01 and a fifty-two week high of $40.17. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.03). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The company had revenue of $14.39 billion during the quarter, compared to analyst estimates of $13.62 billion. During the same period last year, the firm earned $0.64 EPS. The business’s quarterly revenue was down 6.7% compared to the same quarter last year. Research analysts predict that Enterprise Products Partners will post 3.01 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were given a $0.55 dividend. The ex-dividend date was Thursday, April 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 6.0%. Enterprise Products Partners’s payout ratio is 81.48%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. PMV Capital Advisers LLC purchased a new stake in Enterprise Products Partners in the 4th quarter worth $25,000. Palisade Asset Management LLC purchased a new position in Enterprise Products Partners during the third quarter valued at $31,000. Texas Capital Bancshares Inc TX purchased a new position in Enterprise Products Partners during the third quarter valued at $32,000. Daytona Street Capital LLC acquired a new stake in shares of Enterprise Products Partners in the fourth quarter valued at about $42,000. Finally, Groesbeck Investment Management Corp NJ acquired a new stake in shares of Enterprise Products Partners in the fourth quarter valued at about $45,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.