Enterprise Products Partners (NYSE:EPD) Research Coverage Started at Melius Research

Melius Research started coverage on shares of Enterprise Products Partners (NYSE:EPD) in a report released on Tuesday, Marketbeat.com reports. The brokerage issued a hold rating and a $42.00 price objective on the oil and gas producer’s stock.

Other equities analysts have also issued research reports about the company. Stifel Nicolaus assumed coverage on Enterprise Products Partners in a research note on Thursday, September 10th. They issued a “hold” rating and a $40.00 price target on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $38.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Wall Street Zen raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 6th. JPMorgan Chase & Co. increased their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Finally, UBS Group restated a “buy” rating and issued a $45.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $40.12.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $37.26 on Tuesday. The firm has a 50 day moving average of $38.51 and a 200-day moving average of $37.98. The stock has a market capitalization of $80.45 billion, a PE ratio of 12.94, a PEG ratio of 1.40 and a beta of 0.50. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 1.00. Enterprise Products Partners has a 12 month low of $30.01 and a 12 month high of $40.17.

Enterprise Products Partners (NYSE:EPD) last posted 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 firm’s revenue for the quarter was up 60.8% on a year-over-year basis. During the same quarter last year, the business posted $0.66 EPS. On average, equities research 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. Stockholders of record on Friday, July 31st were given a $0.56 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date was Friday, July 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 6.0%. Enterprise Products Partners’s dividend payout ratio is presently 77.78%.

Institutional Investors Weigh In On Enterprise Products Partners

Several institutional investors and hedge funds have recently made changes to their positions in EPD. Auto Owners Insurance Co raised its holdings in shares of Enterprise Products Partners by 3,106.0% in the 4th quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock worth $102,784,000 after acquiring an additional 31,060,000 shares during the last quarter. Energy Income Partners LLC acquired a new position in Enterprise Products Partners during the 2nd quarter valued at about $508,461,000. Bank of America Corp DE bought a new stake in Enterprise Products Partners during the 2nd quarter worth approximately $416,553,000. BlackRock Inc. bought a new stake in Enterprise Products Partners during the 2nd quarter worth approximately $255,325,000. Finally, Berkley W R Corp purchased a new stake in shares of Enterprise Products Partners in the second quarter worth approximately $250,887,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a publicly traded midstream energy partnership that provides transportation, storage, processing and export services for crude oil, natural gas, natural gas liquids (NGLs), petrochemicals and refined products. The company operates an integrated network of pipelines, processing plants, fractionation facilities, storage assets and marine terminals.

Enterprise’s NGL operations include natural gas processing, NGL fractionation and the production and distribution of ethane, propane, butanes and natural gasoline.