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

Enterprise Products Partners L.P. (NYSE:EPD) has earned a consensus recommendation of “Moderate Buy” from the twelve analysts that are covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $35.90.

Several analysts have recently commented on the company. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a research note on Wednesday, December 18th. Barclays increased their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. Morgan Stanley increased their price objective on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 11th. Scotiabank upped their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. Finally, Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th.

Enterprise Products Partners Stock Down 1.2 %

EPD stock opened at $33.69 on Monday. The stock’s 50 day simple moving average is $33.41 and its 200 day simple moving average is $31.54. Enterprise Products Partners has a fifty-two week low of $27.37 and a fifty-two week high of $34.63. 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 cap of $72.95 billion, a P/E ratio of 12.52, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. The firm had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.72 earnings per share. On average, research analysts expect that Enterprise Products Partners will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 6.35%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is 79.55%.

Hedge Funds Weigh In On Enterprise Products Partners

Several institutional investors and hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its holdings in Enterprise Products Partners by 11.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,068,284 shares of the oil and gas producer’s stock valued at $33,501,000 after purchasing an additional 106,895 shares during the period. NorthCrest Asset Manangement LLC lifted its position in shares of Enterprise Products Partners by 0.3% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 476,485 shares of the oil and gas producer’s stock worth $14,943,000 after acquiring an additional 1,374 shares in the last quarter. Copia Wealth Management purchased a new stake in shares of Enterprise Products Partners during the fourth quarter worth $35,000. Menard Financial Group LLC purchased a new stake in shares of Enterprise Products Partners during the fourth quarter worth $42,000. Finally, Leigh Baldwin & CO. LLC purchased a new stake in shares of Enterprise Products Partners during the fourth quarter worth $291,000. 26.07% of the stock is owned by institutional investors.

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.