Enterprise Products Partners (NYSE:EPD) Cut to Equal Weight at Wells Fargo & Company

Wells Fargo & Company lowered shares of Enterprise Products Partners (NYSE:EPD) from an overweight rating to an equal weight rating in a report published on Wednesday, MarketBeat.com reports. They currently have $35.00 price target on the oil and gas producer’s stock.

A number of other research firms also recently weighed in on EPD. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Bank of America assumed coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective on the stock. Finally, US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Enterprise Products Partners has an average rating of “Moderate Buy” and a consensus target price of $34.20.

Enterprise Products Partners Trading Up 1.5 %

Shares of Enterprise Products Partners stock opened at $30.99 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The firm has a market cap of $67.17 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 1.67 and a beta of 1.08. Enterprise Products Partners has a twelve month low of $26.03 and a twelve month high of $34.63. The business has a 50-day moving average price of $30.95 and a 200-day moving average price of $29.74.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The firm had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same period in the previous year, the firm earned $0.60 EPS. The business’s revenue was up 14.8% compared to the same quarter last year. Equities research analysts anticipate that Enterprise Products Partners will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.78%. The ex-dividend date of this dividend was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is currently 78.65%.

Institutional Investors Weigh In On Enterprise Products Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EPD. &PARTNERS lifted its holdings in shares of Enterprise Products Partners by 119.6% in the 2nd quarter. &PARTNERS now owns 17,001 shares of the oil and gas producer’s stock worth $493,000 after buying an additional 9,259 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in Enterprise Products Partners by 29.3% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 17,826 shares of the oil and gas producer’s stock valued at $517,000 after purchasing an additional 4,039 shares during the period. JB Capital LLC bought a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at about $3,169,000. Gilliland Jeter Wealth Management LLC lifted its position in shares of Enterprise Products Partners by 74.1% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 4,700 shares of the oil and gas producer’s stock worth $136,000 after purchasing an additional 2,000 shares during the period. Finally, LRI Investments LLC boosted its stake in shares of Enterprise Products Partners by 22.7% during the second quarter. LRI Investments LLC now owns 23,728 shares of the oil and gas producer’s stock valued at $688,000 after purchasing an additional 4,386 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.