Morgan Stanley Cuts Enterprise Products Partners (NYSE:EPD) Price Target to $33.00

Enterprise Products Partners (NYSE:EPD) had its target price lowered by Morgan Stanley from $35.00 to $33.00 in a research report report published on Tuesday, MarketBeat Ratings reports. The firm currently has an equal weight rating on the oil and gas producer’s stock.

EPD has been the topic of a number of other reports. Stifel Nicolaus lowered their price target on Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, July 29th. Mizuho set a $38.00 target price on shares of Enterprise Products Partners and gave the company an “outperform” rating in a research note on Friday, July 11th. Argus upgraded shares of Enterprise Products Partners to a “strong-buy” rating in a research report on Monday, May 5th. Scotiabank lifted their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a “sector perform” rating in a report on Thursday, June 5th. Finally, Barclays reduced their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 2nd. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Enterprise Products Partners currently has an average rating of “Moderate Buy” and a consensus target price of $35.83.

Enterprise Products Partners Stock Up 1.0%

EPD opened at $31.93 on Tuesday. The business has a 50 day moving average of $31.41 and a 200-day moving average of $31.78. The stock has a market capitalization of $69.14 billion, a price-to-earnings ratio of 11.87, a P/E/G ratio of 1.84 and a beta of 0.66. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 1.04. Enterprise Products Partners has a 1-year low of $27.77 and a 1-year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Monday, July 28th. The oil and gas producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The firm had revenue of $11.36 billion during the quarter, compared to the consensus estimate of $15.24 billion. During the same quarter in the prior year, the business posted $0.64 EPS. Enterprise Products Partners’s revenue was down 15.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Enterprise Products Partners will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were paid a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 6.8%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Thursday, July 31st. Enterprise Products Partners’s payout ratio is presently 81.04%.

Insiders Place Their Bets

In related news, Director John R. Rutherford bought 15,000 shares of the business’s stock in a transaction on Tuesday, July 29th. The shares were purchased at an average price of $31.35 per share, with a total value of $470,250.00. Following the completion of the purchase, the director owned 158,586 shares of the company’s stock, valued at $4,971,671.10. This represents a 10.45% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William C. Montgomery purchased 16,000 shares of Enterprise Products Partners stock in a transaction dated Wednesday, July 30th. The shares were purchased at an average cost of $31.55 per share, for a total transaction of $504,800.00. Following the completion of the transaction, the director owned 136,920 shares of the company’s stock, valued at approximately $4,319,826. This represents a 13.23% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 32.60% of the company’s stock.

Institutional Investors Weigh In On Enterprise Products Partners

Several institutional investors have recently bought and sold shares of the company. Brooklyn Investment Group acquired a new position in Enterprise Products Partners during the first quarter worth $27,000. Wealth Preservation Advisors LLC bought a new stake in Enterprise Products Partners during the 1st quarter worth about $28,000. Winnow Wealth LLC acquired a new position in shares of Enterprise Products Partners during the 2nd quarter worth about $28,000. Crowley Wealth Management Inc. bought a new position in shares of Enterprise Products Partners in the 2nd quarter valued at about $29,000. Finally, Security National Bank acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at about $30,000. 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.