Enterprise Products Partners (NYSE:EPD) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Enterprise Products Partners (NYSE:EPD) from a hold rating to a buy rating in a research note released on Saturday.

A number of other equities analysts also recently issued reports on the company. Scotiabank reiterated a “sector perform” rating and issued a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. Citigroup restated a “buy” rating and set a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. Wolfe Research raised shares of Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. TD Cowen reiterated a “hold” rating and issued a $38.00 price target (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday, August 3rd. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $38.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $39.93.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $37.97 on Friday. Enterprise Products Partners has a fifty-two week low of $30.01 and a fifty-two week high of $40.17. The stock’s 50 day simple moving average is $37.56 and its two-hundred day simple moving average is $37.22. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. The stock has a market cap of $82.08 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 1.36 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last announced its 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 firm had revenue of $18.27 billion during the quarter, compared to analyst estimates of $13.69 billion. Enterprise Products Partners had a return on equity of 20.80% and a net margin of 10.79%.The business’s revenue was up 60.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.66 EPS. As a group, analysts expect that Enterprise Products Partners will post 2.96 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a $0.56 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, July 31st. This represents a $2.24 dividend on an annualized basis and a yield of 5.9%. Enterprise Products Partners’s payout ratio is presently 77.78%.

Hedge Funds Weigh In On Enterprise Products Partners

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Palisade Asset Management LLC purchased a new position in shares of Enterprise Products Partners during the third quarter valued at approximately $31,000. N.E.W. Advisory Services LLC purchased a new stake in Enterprise Products Partners in the second quarter worth approximately $37,000. Bravera Wealth boosted its holdings in Enterprise Products Partners by 666.7% in the second quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock worth $38,000 after purchasing an additional 900 shares during the last quarter. BOK Financial Private Wealth Inc. bought a new stake in Enterprise Products Partners in the 2nd quarter worth approximately $48,000. Finally, Kestra Investment Management LLC bought a new stake in Enterprise Products Partners in the 2nd quarter worth approximately $48,000. Institutional investors own 26.07% of the company’s stock.

About Enterprise Products Partners

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.