Enterprise Products Partners (NYSE:EPD) Stock Rating 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 report published on Saturday morning,Wall Street Zen reports.

Several other research analysts also recently weighed in on EPD. Melius Research started coverage on Enterprise Products Partners in a research note on Tuesday, September 22nd. They set a “hold” rating and a $42.00 target price on the stock. Capital One Financial began coverage on Enterprise Products Partners in a report on Tuesday, September 22nd. They issued an “equal weight” rating and a $42.00 price target for the company. TD Cowen restated a “hold” rating and set a $38.00 price target (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday, August 3rd. UBS Group restated a “buy” rating and set a $45.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Finally, Stifel Nicolaus started coverage on shares of Enterprise Products Partners in a research report on Thursday, September 10th. They issued a “hold” rating and a $40.00 price objective for the company. Seven analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $40.12.

Enterprise Products Partners Stock Up 1.3%

Shares of Enterprise Products Partners stock opened at $36.14 on Friday. Enterprise Products Partners has a 52-week low of $30.01 and a 52-week high of $40.17. The firm’s 50 day moving average price is $38.21 and its 200-day moving average price is $37.94. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 1.00. The company has a market cap of $78.05 billion, a P/E ratio of 12.55, a PEG ratio of 1.33 and a beta of 0.50.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.09. The business had revenue of $18.27 billion for the quarter, compared to analyst estimates of $13.69 billion. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The business’s revenue for the quarter was up 60.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.66 earnings per share. On average, sell-side analysts predict that Enterprise Products Partners will post 3.02 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared 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 annualized dividend and a yield of 6.2%. The ex-dividend date was Friday, July 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 77.78%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. CX Institutional boosted its position in Enterprise Products Partners by 26.5% in the third quarter. CX Institutional now owns 5,453 shares of the oil and gas producer’s stock valued at $194,000 after buying an additional 1,141 shares during the last quarter. QRG Capital Management Inc. raised its position in Enterprise Products Partners by 49.7% during the 2nd quarter. QRG Capital Management Inc. now owns 10,004 shares of the oil and gas producer’s stock worth $368,000 after buying an additional 3,321 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Enterprise Products Partners by 2.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 662,552 shares of the oil and gas producer’s stock valued at $24,355,000 after acquiring an additional 16,760 shares during the period. Security National Bank of Sioux City Iowa IA purchased a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at $67,000. Finally, Anchor Investment Management LLC boosted its holdings in shares of Enterprise Products Partners by 13.5% in the 2nd quarter. Anchor Investment Management LLC now owns 42,150 shares of the oil and gas producer’s stock valued at $1,549,000 after acquiring an additional 5,004 shares during the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

About Enterprise Products Partners

Enterprise Products Partners L.P. is a publicly traded master limited partnership that owns and operates midstream energy infrastructure in the United States. The company transports, stores, processes and exports oil, natural gas, natural gas liquids (NGLs), refined products and petrochemicals.

Its operations include pipelines, natural gas processing plants, NGL fractionation facilities, underground storage, marine terminals and export infrastructure. Enterprise serves producers, refiners, petrochemical manufacturers, utilities and other energy customers by connecting major producing regions with domestic and international markets.

Enterprise Products Partners was founded in 1968 and is headquartered in Houston, Texas.