Enterprise Products Partners (NYSE:EPD) Research Coverage Started at Stifel Nicolaus

Stifel Nicolaus began coverage on shares of Enterprise Products Partners (NYSE:EPD) in a research report released on Thursday morning, MarketBeat.com reports. The firm issued a hold rating and a $40.00 target price on the oil and gas producer’s stock.

Several other research analysts have also recently issued reports on the stock. The Goldman Sachs Group restated a “neutral” rating and issued a $38.00 target price on shares of Enterprise Products Partners in a report on Wednesday, June 17th. JPMorgan Chase & Co. increased their price target on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. UBS Group reissued a “buy” rating and issued a $45.00 price target on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Morgan Stanley restated an “underweight” rating and issued a $41.00 price objective (up from $40.00) on shares of Enterprise Products Partners in a research report on Tuesday, August 18th. Finally, Weiss Ratings raised shares of Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $39.87.

Enterprise Products Partners Trading Down 1.0%

Shares of EPD stock opened at $38.94 on Thursday. The business has a 50-day moving average of $38.38 and a 200 day moving average of $37.87. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.93 and a quick ratio of 0.66. Enterprise Products Partners has a 1-year low of $30.01 and a 1-year high of $40.17. The stock has a market capitalization of $84.09 billion, a PE ratio of 13.52, a P/E/G ratio of 1.43 and a beta of 0.50.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The business had revenue of $18.27 billion for the quarter, compared to analysts’ expectations of $13.69 billion. During the same period in the previous year, the firm earned $0.66 EPS. The business’s quarterly revenue was up 60.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Enterprise Products Partners will post 3.03 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 5.8%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date was Friday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 77.78%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Alps Advisors Inc. increased its position in shares of Enterprise Products Partners by 0.6% during the fourth quarter. Alps Advisors Inc. now owns 42,639,131 shares of the oil and gas producer’s stock valued at $1,367,011,000 after buying an additional 260,305 shares during the period. Auto Owners Insurance Co lifted its holdings in Enterprise Products Partners by 3,106.0% in the fourth quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock worth $102,784,000 after buying an additional 31,060,000 shares during the period. Morgan Stanley boosted its position in Enterprise Products Partners by 4.8% during the 4th quarter. Morgan Stanley now owns 19,116,333 shares of the oil and gas producer’s stock valued at $612,870,000 after acquiring an additional 883,983 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Enterprise Products Partners by 12.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock valued at $582,317,000 after acquiring an additional 1,940,583 shares in the last quarter. Finally, Energy Income Partners LLC grew its holdings in shares of Enterprise Products Partners by 0.6% during the 3rd quarter. Energy Income Partners LLC now owns 14,705,122 shares of the oil and gas producer’s stock worth $459,829,000 after acquiring an additional 80,884 shares during the period. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a publicly traded midstream energy partnership that provides transportation, storage, processing and export services for crude oil, natural gas, natural gas liquids (NGLs), petrochemicals and refined products. The company operates an integrated network of pipelines, processing plants, fractionation facilities, storage assets and marine terminals.

Enterprise’s NGL operations include natural gas processing, NGL fractionation and the production and distribution of ethane, propane, butanes and natural gasoline.