Enterprise Products Partners L.P. (NYSE:EPD) Receives Average Recommendation of “Hold” from Brokerages

Shares of Enterprise Products Partners L.P. (NYSE:EPD) have been given a consensus recommendation of “Hold” by the seventeen brokerages that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, eight have assigned a buy recommendation and one has given 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 $36.00.

EPD has been the subject of a number of research reports. JPMorgan Chase & Co. reissued a “neutral” rating and set a $35.00 target price on shares of Enterprise Products Partners in a research report on Monday, December 1st. Wolfe Research downgraded Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 price objective on the stock. in a research note on Wednesday, January 14th. TD Cowen raised their target price on Enterprise Products Partners from $33.00 to $34.00 and gave the stock a “hold” rating in a research report on Wednesday, February 4th. Royal Bank Of Canada restated an “outperform” rating and issued a $40.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, February 4th. Finally, Scotiabank reissued a “sector perform” rating and issued a $37.00 price objective (up previously from $35.00) on shares of Enterprise Products Partners in a report on Thursday, February 5th.

Insider Activity at Enterprise Products Partners

In other news, Director John R. Rutherford bought 15,000 shares of the firm’s stock in a transaction that occurred on Monday, December 29th. The shares were acquired at an average price of $32.09 per share, with a total value of $481,350.00. Following the acquisition, the director owned 173,586 shares of the company’s stock, valued at approximately $5,570,374.74. The trade was a 9.46% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 32.60% of the company’s stock.

Hedge Funds Weigh In On Enterprise Products Partners

Institutional investors have recently added to or reduced their stakes in the business. PMV Capital Advisers LLC bought a new position in shares of Enterprise Products Partners in the fourth quarter worth approximately $25,000. Winnow Wealth LLC purchased a new position in Enterprise Products Partners in the 2nd quarter worth approximately $28,000. Traub Capital Management LLC bought a new position in shares of Enterprise Products Partners in the 2nd quarter worth $31,000. Palisade Asset Management LLC bought a new stake in shares of Enterprise Products Partners during the 3rd quarter worth $31,000. Finally, Abich Financial Wealth Management LLC purchased a new position in Enterprise Products Partners in the third quarter worth $32,000. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Up 0.6%

NYSE EPD traded up $0.21 during mid-day trading on Thursday, hitting $35.66. The company’s stock had a trading volume of 1,467,467 shares, compared to its average volume of 4,932,783. The company has a current ratio of 0.88, a quick ratio of 0.60 and a debt-to-equity ratio of 1.04. The company’s 50 day simple moving average is $32.79 and its 200 day simple moving average is $31.95. The firm has a market capitalization of $77.14 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 2.50 and a beta of 0.60. Enterprise Products Partners has a twelve month low of $27.77 and a twelve month high of $35.92.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.75 EPS for the quarter, beating the consensus estimate of $0.69 by $0.06. The company had revenue of $13.79 billion during the quarter, compared to the consensus estimate of $12.44 billion. Enterprise Products Partners had a net margin of 11.05% and a return on equity of 19.43%. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.74 earnings per share. Analysts anticipate that Enterprise Products Partners will post 2.9 earnings per share for the current year.

Enterprise Products Partners declared that its Board of Directors has authorized a stock buyback plan on Thursday, October 30th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas producer to repurchase up to 7.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date is Friday, January 30th. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio is currently 82.71%.

Enterprise Products Partners Company Profile

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.