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

Wall Street Zen upgraded shares of Enterprise Products Partners (NYSE:EPD) from a buy rating to a strong-buy rating in a research report released on Sunday morning.

Other analysts also recently issued reports about the stock. Citigroup reaffirmed a “buy” rating and issued a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. TD Cowen reissued a “hold” rating and set a $38.00 price target (down from $39.00) on shares of Enterprise Products Partners in a research report on Monday, August 3rd. Stifel Nicolaus boosted their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. upped their price objective 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, The Goldman Sachs Group reiterated a “neutral” rating and set a $38.00 target price on shares of Enterprise Products Partners in a report on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $40.00.

Enterprise Products Partners Stock Up 0.1%

Shares of NYSE:EPD opened at $38.66 on Friday. The firm has a market capitalization of $83.48 billion, a P/E ratio of 13.42, a P/E/G ratio of 1.30 and a beta of 0.49. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.93. The stock has a 50 day moving average price of $37.63 and a 200-day moving average price of $37.44. Enterprise Products Partners has a 52-week low of $30.01 and a 52-week high of $40.17.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.09. The company had revenue of $18.27 billion for the quarter, compared to analyst estimates of $13.69 billion. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The firm’s revenue was up 60.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 earnings per share. As a group, equities research analysts anticipate that Enterprise Products Partners will post 2.98 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business 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. The ex-dividend date of this dividend was Friday, July 31st. This represents a $2.24 annualized dividend and a dividend yield of 5.8%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s payout ratio is presently 77.78%.

Institutional Trading of Enterprise Products Partners

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

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.