Enterprise Products Partners (NYSE:EPD) Cut to Buy at Wall Street Zen

Wall Street Zen cut shares of Enterprise Products Partners (NYSE:EPD) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday,Wall Street Zen reports.

EPD has been the subject of several other reports. Truist Financial upped their price target on Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. lifted their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Citigroup reiterated a “buy” rating and issued a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. TD Cowen reissued a “hold” rating and set a $38.00 price objective (down from $39.00) on shares of Enterprise Products Partners in a report on Monday, August 3rd. Finally, Weiss Ratings upgraded Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Enterprise Products Partners currently has an average rating of “Moderate Buy” and an average target price of $40.00.

Enterprise Products Partners Price Performance

NYSE:EPD opened at $38.88 on Friday. The business’s 50-day simple moving average is $37.94 and its two-hundred day simple moving average is $37.70. Enterprise Products Partners has a 52 week low of $30.01 and a 52 week high of $40.17. The stock has a market cap of $83.96 billion, a PE ratio of 13.50, a P/E/G ratio of 1.28 and a beta of 0.49. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 1.00.

Enterprise Products Partners (NYSE:EPD) last released 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 return on equity of 20.67% and a net margin of 10.79%.The firm had revenue of $18.27 billion during the quarter, compared to analyst estimates of $13.69 billion. During the same quarter in the prior year, the company posted $0.66 earnings per share. The business’s quarterly revenue was up 60.8% compared to the same quarter last year. As a group, analysts forecast that Enterprise Products Partners will post 3.03 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given 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 positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date was Friday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 77.78%.

Institutional Investors Weigh In On Enterprise Products Partners

Several institutional investors have recently made changes to their positions in the company. Palisade Asset Management LLC purchased a new stake in Enterprise Products Partners in the 3rd quarter worth about $31,000. N.E.W. Advisory Services LLC purchased a new position in shares of Enterprise Products Partners during the second quarter valued at approximately $37,000. Bravera Wealth boosted its position in shares of Enterprise Products Partners by 666.7% during the second quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock valued at $38,000 after buying an additional 900 shares during the period. Markowski Investments bought a new position in shares of Enterprise Products Partners during the second quarter valued at approximately $46,000. Finally, BOK Financial Private Wealth Inc. bought a new position in shares of Enterprise Products Partners during the second quarter valued at approximately $48,000. Institutional investors 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.