Enterprise Products Partners (NYSE:EPD) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Enterprise Products Partners (NYSE:EPD) from a hold rating to a buy rating in a report issued on Tuesday morning.

Other equities research analysts have also recently issued research reports about the stock. Citigroup reissued a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $37.00 target price on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Barclays upped their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. Finally, Morgan Stanley upped their price target on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 11th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.89.

Enterprise Products Partners Trading Up 2.1 %

Shares of EPD stock opened at $30.95 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $67.03 billion, a P/E ratio of 11.51, a P/E/G ratio of 1.37 and a beta of 0.78. The firm has a 50-day moving average price of $32.75 and a 200 day moving average price of $31.86. Enterprise Products Partners has a 12-month low of $27.37 and a 12-month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the previous year, the firm posted $0.72 earnings per share. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. Research analysts forecast that Enterprise Products Partners will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be given a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 6.91%. The ex-dividend date of this dividend is Wednesday, April 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is 79.55%.

Hedge Funds Weigh In On Enterprise Products Partners

A number of large investors have recently modified their holdings of EPD. Invesco Ltd. grew its holdings in Enterprise Products Partners by 1.3% in the 4th quarter. Invesco Ltd. now owns 27,076,718 shares of the oil and gas producer’s stock worth $849,126,000 after acquiring an additional 359,288 shares during the last quarter. FMR LLC raised its position in shares of Enterprise Products Partners by 2.1% in the 4th quarter. FMR LLC now owns 14,734,295 shares of the oil and gas producer’s stock worth $462,067,000 after purchasing an additional 304,997 shares during the last quarter. Kayne Anderson Capital Advisors LP lifted its stake in shares of Enterprise Products Partners by 16.7% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock worth $426,125,000 after buying an additional 1,947,017 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Enterprise Products Partners by 8.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer’s stock valued at $330,739,000 after purchasing an additional 851,188 shares during the last quarter. Finally, Westwood Holdings Group Inc. boosted its position in shares of Enterprise Products Partners by 11.1% during the fourth quarter. Westwood Holdings Group Inc. now owns 5,830,088 shares of the oil and gas producer’s stock valued at $182,832,000 after buying an additional 580,850 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Company Profile

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.