Enterprise Products Partners (NYSE:EPD) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Enterprise Products Partners (NYSE:EPD) from a buy rating to a strong-buy rating in a report released on Sunday morning,Wall Street Zen reports.

A number of other analysts have also recently commented on the company. Scotiabank restated a “sector perform” rating and issued a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research report on Tuesday, May 12th. JPMorgan Chase & Co. upped their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. TD Cowen reissued a “hold” rating and set a $38.00 target price (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday, August 3rd. Morgan Stanley reiterated an “underweight” rating and set a $41.00 price objective (up from $40.00) on shares of Enterprise Products Partners in a research note on Tuesday, August 18th. Finally, UBS Group reaffirmed a “buy” rating and issued a $45.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.00.

Enterprise Products Partners Stock Down 0.1%

EPD stock opened at $38.89 on Friday. Enterprise Products Partners has a one year low of $30.01 and a one year high of $40.17. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.93. The firm’s fifty day moving average is $38.23 and its 200 day moving average is $37.82. The firm has a market cap of $83.98 billion, a PE ratio of 13.50, a P/E/G ratio of 1.42 and a beta of 0.50.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The business had revenue of $18.27 billion during the quarter, compared to the consensus estimate of $13.69 billion. During the same quarter in the prior year, the firm posted $0.66 earnings per share. The company’s revenue was up 60.8% compared to the same quarter last year. On average, research analysts forecast that Enterprise Products Partners will post 3.03 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 5.8%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Friday, July 31st. Enterprise Products Partners’s payout ratio is presently 77.78%.

Institutional Trading of Enterprise Products Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in EPD. RFG Advisory LLC grew its position in Enterprise Products Partners by 1.3% in the second quarter. RFG Advisory LLC now owns 21,636 shares of the oil and gas producer’s stock worth $795,000 after acquiring an additional 268 shares during the period. Sigma Planning Corp raised its position in Enterprise Products Partners by 0.8% in the second quarter. Sigma Planning Corp now owns 35,270 shares of the oil and gas producer’s stock valued at $1,297,000 after purchasing an additional 270 shares during the period. Everest Financial Group LLC lifted its stake in shares of Enterprise Products Partners by 3.6% in the 1st quarter. Everest Financial Group LLC now owns 7,886 shares of the oil and gas producer’s stock valued at $298,000 after purchasing an additional 271 shares during the last quarter. Renasant Bank lifted its stake in shares of Enterprise Products Partners by 1.3% in the 2nd quarter. Renasant Bank now owns 21,160 shares of the oil and gas producer’s stock valued at $778,000 after purchasing an additional 271 shares during the last quarter. Finally, Walker Asset Management LLC grew its holdings in shares of Enterprise Products Partners by 1.4% during the 2nd quarter. Walker Asset Management LLC now owns 20,256 shares of the oil and gas producer’s stock worth $745,000 after purchasing an additional 282 shares during the period. Institutional investors and hedge funds 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.