JPMorgan Chase & Co. Issues Positive Forecast for Enterprise Products Partners (NYSE:EPD) Stock Price

Enterprise Products Partners (NYSE:EPD) had its price target upped by JPMorgan Chase & Co. from $41.00 to $42.00 in a research note published on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the oil and gas producer’s stock.

A number of other research analysts also recently issued reports on EPD. Wolfe Research raised Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Weiss Ratings cut Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday, July 2nd. The Goldman Sachs Group reiterated a “neutral” rating and issued a $38.00 target price on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Royal Bank Of Canada boosted their price target on Enterprise Products Partners from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, March 30th. Finally, Wells Fargo & Company upgraded Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $40.00 to $42.00 in a report on Wednesday, March 25th. Nine research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $40.00.

Enterprise Products Partners Price Performance

EPD stock opened at $37.31 on Thursday. The firm has a market cap of $80.66 billion, a price-to-earnings ratio of 13.82, a PEG ratio of 1.33 and a beta of 0.49. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. Enterprise Products Partners has a 12-month low of $30.01 and a 12-month high of $40.17. The company’s fifty day simple moving average is $37.69 and its 200 day simple moving average is $36.29.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $14.39 billion for the quarter, compared to the consensus estimate of $13.62 billion. During the same period last year, the company posted $0.64 EPS. The business’s revenue was down 6.7% compared to the same quarter last year. On average, analysts expect that Enterprise Products Partners will post 3.01 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 6.0%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, July 31st. Enterprise Products Partners’s payout ratio is 81.48%.

Hedge Funds Weigh In On Enterprise Products Partners

Large investors have recently modified their holdings of the company. Brighton Jones LLC grew its holdings in shares of Enterprise Products Partners by 19.9% during the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock valued at $1,023,000 after buying an additional 5,425 shares during the last quarter. Schnieders Capital Management LLC. raised its holdings in shares of Enterprise Products Partners by 9.3% in the 2nd quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer’s stock worth $1,827,000 after acquiring an additional 5,000 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Enterprise Products Partners by 6.2% in the 2nd quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer’s stock worth $1,975,000 after acquiring an additional 3,742 shares during the last quarter. Guggenheim Capital LLC lifted its position in Enterprise Products Partners by 6.1% in the 2nd quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer’s stock valued at $847,000 after acquiring an additional 1,578 shares in the last quarter. Finally, Glenview Trust co boosted its stake in Enterprise Products Partners by 315.8% during the 2nd quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer’s stock valued at $1,043,000 after purchasing an additional 25,555 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. (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.