Enterprise Products Partners (NYSE:EPD) Rating Increased to Buy at Wall Street Zen

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

EPD has been the topic of a number of other reports. Stifel Nicolaus lifted their price objective on Enterprise Products Partners from $38.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. TD Cowen increased their target price on Enterprise Products Partners from $33.00 to $34.00 and gave the company a “hold” rating in a research note on Wednesday, February 4th. Scotiabank raised their target price on Enterprise Products Partners from $37.00 to $39.00 and gave the company a “sector perform” rating in a report on Tuesday, March 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Thursday, January 22nd. Finally, Citigroup reiterated a “buy” rating and set a $39.00 price target (up from $36.00) on shares of Enterprise Products Partners in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Enterprise Products Partners has an average rating of “Hold” and an average price target of $37.14.

Get Our Latest Stock Analysis on Enterprise Products Partners

Enterprise Products Partners Stock Up 0.3%

Shares of Enterprise Products Partners stock opened at $37.55 on Friday. The stock has a market capitalization of $81.18 billion, a P/E ratio of 14.12, a PEG ratio of 1.50 and a beta of 0.59. The company has a quick ratio of 0.74, a current ratio of 1.04 and a debt-to-equity ratio of 1.07. The stock has a 50 day moving average price of $35.33 and a two-hundred day moving average price of $32.95. Enterprise Products Partners has a 12-month low of $27.77 and a 12-month high of $38.22.

Enterprise Products Partners (NYSE:EPDGet Free Report) last posted its quarterly earnings data on Monday, February 2nd. The oil and gas producer reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.06. Enterprise Products Partners had a net margin of 11.05% and a return on equity of 19.33%. The business had revenue of $13.79 billion during the quarter, compared to the consensus estimate of $12.44 billion. During the same period in the prior year, the firm earned $0.74 EPS. Enterprise Products Partners’s quarterly revenue was down 2.9% compared to the same quarter last year. Equities analysts expect that Enterprise Products Partners will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend was Friday, January 30th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s payout ratio is currently 82.71%.

Insider Activity

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

Institutional Trading of Enterprise Products Partners

Large investors have recently added to or reduced their stakes in the company. Tred Avon Family Wealth LLC acquired a new stake in shares of Enterprise Products Partners in the third quarter valued at approximately $1,015,000. Tectonic Advisors LLC lifted its holdings in Enterprise Products Partners by 10.0% during the 3rd quarter. Tectonic Advisors LLC now owns 678,769 shares of the oil and gas producer’s stock worth $21,225,000 after buying an additional 61,669 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in Enterprise Products Partners by 20.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 229,911 shares of the oil and gas producer’s stock worth $7,189,000 after buying an additional 38,660 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Enterprise Products Partners by 3.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,252,088 shares of the oil and gas producer’s stock valued at $39,153,000 after buying an additional 36,339 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its position in Enterprise Products Partners by 118.9% in the 2nd quarter. Corient Private Wealth LLC now owns 2,407,544 shares of the oil and gas producer’s stock valued at $74,658,000 after buying an additional 1,307,485 shares during the last quarter. 26.07% of the stock is owned by institutional investors.

Key Headlines Impacting Enterprise Products Partners

Here are the key news stories impacting Enterprise Products Partners this week:

About Enterprise Products Partners

(Get Free Report)

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.

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