Enterprise Products Partners (NYSE:EPD) Upgraded at StockNews.com

StockNews.com upgraded shares of Enterprise Products Partners (NYSE:EPD) from a hold rating to a buy rating in a research report sent to investors on Tuesday.

Other equities research analysts have also recently issued research reports about the stock. Truist Financial increased their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Scotiabank lifted their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 6th. Morgan Stanley upped their target price on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, March 11th. Finally, Barclays raised their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Enterprise Products Partners currently has an average rating of “Moderate Buy” and an average target price of $36.89.

Enterprise Products Partners Price Performance

EPD stock opened at $31.05 on Tuesday. The firm has a market cap of $67.25 billion, a P/E ratio of 11.54, a P/E/G ratio of 1.37 and a beta of 0.78. The firm’s fifty day moving average is $32.65 and its 200 day moving average is $31.87. Enterprise Products Partners has a 52 week low of $27.37 and a 52 week high of $34.63. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period last year, the company earned $0.72 EPS. Enterprise Products Partners’s revenue for the quarter was down 2.9% compared to the same quarter last year. Research analysts predict that Enterprise Products Partners will post 2.9 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be given a $0.535 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.89%. Enterprise Products Partners’s dividend payout ratio is currently 79.55%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EPD. Rosenberg Matthew Hamilton raised its position in shares of Enterprise Products Partners by 364.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 656 shares during the last quarter. Tidemark LLC raised its holdings in Enterprise Products Partners by 54.3% in the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock worth $28,000 after buying an additional 318 shares during the last quarter. Lee Danner & Bass Inc. bought a new position in shares of Enterprise Products Partners in the fourth quarter worth approximately $29,000. Crowley Wealth Management Inc. purchased a new stake in shares of Enterprise Products Partners during the fourth quarter valued at approximately $30,000. Finally, National Bank of Canada FI increased its position in shares of Enterprise Products Partners by 55.4% during the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock valued at $32,000 after acquiring an additional 360 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Company Profile

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.