Enterprise Products Partners (NYSE:EPD) Upgraded by Wall Street Zen to “Strong-Buy” Rating

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

Several other equities analysts have also recently commented on the company. Citigroup restated a “buy” rating and set a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. Stifel Nicolaus lifted their price target on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Wolfe Research raised Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. 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 research report on Thursday, July 9th. 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, seven have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $39.93.

Enterprise Products Partners Stock Down 0.1%

Shares of NYSE:EPD opened at $38.84 on Friday. The firm has a fifty day moving average price of $37.58 and a two-hundred day moving average price of $37.37. The company has a market cap of $83.88 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 1.30 and a beta of 0.49. 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 one year low of $30.01 and a one year 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, topping the consensus estimate of $0.75 by $0.09. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The firm had revenue of $18.27 billion for the quarter, compared to analysts’ expectations of $13.69 billion. During the same quarter in the prior year, the firm posted $0.66 earnings per share. The business’s quarterly revenue was up 60.8% on a year-over-year basis. Analysts anticipate that Enterprise Products Partners will post 2.98 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in EPD. Western Wealth Management LLC lifted its holdings in shares of Enterprise Products Partners by 7.4% in the 2nd quarter. Western Wealth Management LLC now owns 10,442 shares of the oil and gas producer’s stock worth $384,000 after acquiring an additional 719 shares during the last quarter. First Bancorp Inc ME grew its holdings in shares of Enterprise Products Partners by 51.3% during the 2nd quarter. First Bancorp Inc ME now owns 10,146 shares of the oil and gas producer’s stock valued at $373,000 after purchasing an additional 3,440 shares during the last quarter. Valtrion Capital Management LLC raised its position in Enterprise Products Partners by 11.2% in the 2nd quarter. Valtrion Capital Management LLC now owns 7,016 shares of the oil and gas producer’s stock worth $258,000 after purchasing an additional 706 shares during the period. Hsbc Holdings PLC raised its position in Enterprise Products Partners by 13.6% in the 2nd quarter. Hsbc Holdings PLC now owns 226,543 shares of the oil and gas producer’s stock worth $8,328,000 after purchasing an additional 27,115 shares during the period. Finally, Arkos Global Advisors lifted its stake in Enterprise Products Partners by 8.0% in the second quarter. Arkos Global Advisors now owns 12,310 shares of the oil and gas producer’s stock worth $453,000 after purchasing an additional 908 shares during the last quarter. 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.