Enterprise Products Partners (NYSE:EPD) Now Covered by Scotiabank

Scotiabank assumed coverage on shares of Enterprise Products Partners (NYSE:EPD) in a research report sent to investors on Friday morning, MarketBeat.com reports. The brokerage issued a sector perform rating and a $33.00 target price on the oil and gas producer’s stock.

Other equities research analysts have also issued research reports about the company. Truist Financial boosted their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a research note on Wednesday, December 18th. Bank of America started coverage on Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target for the company. Finally, US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average target price of $34.60.

Enterprise Products Partners Stock Down 0.7 %

EPD stock opened at $32.21 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The company has a market capitalization of $69.82 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 1.66 and a beta of 1.09. Enterprise Products Partners has a fifty-two week low of $26.12 and a fifty-two week high of $34.63. The stock has a fifty day moving average of $31.72 and a 200-day moving average of $30.07.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The firm had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. The business’s revenue was up 14.8% on a year-over-year basis. During the same period last year, the company posted $0.60 EPS. As a group, equities research analysts predict that Enterprise Products Partners will post 2.69 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.64%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is 80.15%.

Institutional Trading of Enterprise Products Partners

Large investors have recently bought and sold shares of the business. Pathway Financial Advisers LLC increased its holdings in shares of Enterprise Products Partners by 2,862.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after acquiring an additional 7,494,224 shares during the last quarter. Barclays PLC raised its stake in Enterprise Products Partners by 110.0% during the 3rd quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock valued at $73,699,000 after acquiring an additional 1,326,010 shares during the last quarter. International Assets Investment Management LLC increased its stake in Enterprise Products Partners by 2,854.1% in the 3rd quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock valued at $37,474,000 after buying an additional 1,243,741 shares during the period. FMR LLC boosted its holdings in Enterprise Products Partners by 9.3% in the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after purchasing an additional 1,225,988 shares in the last quarter. Finally, Merewether Investment Management LP acquired a new stake in Enterprise Products Partners in the third quarter valued at $30,746,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

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.