Enterprise Products Partners’ (EPD) Outperform Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada reaffirmed their outperform rating on shares of Enterprise Products Partners (NYSE:EPD) in a report published on Tuesday,Benzinga reports. The firm currently has a $42.00 price target on the oil and gas producer’s stock.

Other research analysts have also issued research reports about the stock. Capital One Financial began coverage on shares of Enterprise Products Partners in a research note on Tuesday. They issued an “equal weight” rating and a $42.00 price objective for the company. Morgan Stanley reaffirmed an “underweight” rating and set a $41.00 target price (up from $40.00) on shares of Enterprise Products Partners in a research note on Tuesday, August 18th. TD Cowen reissued a “hold” rating and issued a $38.00 price target (down from $39.00) on shares of Enterprise Products Partners in a research report on Monday, August 3rd. Wall Street Zen upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 6th. Finally, Melius Research initiated coverage on shares of Enterprise Products Partners in a research note on Tuesday. They issued a “hold” rating and a $42.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $40.12.

Enterprise Products Partners Price Performance

EPD stock opened at $37.26 on Tuesday. The business’s fifty day moving average price is $38.51 and its 200 day moving average price is $37.98. Enterprise Products Partners has a 12-month low of $30.01 and a 12-month high of $40.17. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $80.45 billion, a PE ratio of 12.94, a P/E/G ratio of 1.40 and a beta of 0.50.

Enterprise Products Partners (NYSE:EPD) last released its 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 during the quarter, compared to the consensus estimate of $13.69 billion. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.Enterprise Products Partners’s revenue was up 60.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.66 EPS. On average, sell-side analysts anticipate that Enterprise Products Partners will post 3.02 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently announced 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 6.0%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Friday, July 31st. Enterprise Products Partners’s dividend payout ratio is 77.78%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Alps Advisors Inc. increased its position in shares of Enterprise Products Partners by 0.6% in the 4th 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 purchasing an additional 260,305 shares during the last quarter. Auto Owners Insurance Co grew its stake in shares of Enterprise Products Partners by 3,106.0% during 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 purchasing an additional 31,060,000 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Enterprise Products Partners by 12.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock worth $582,317,000 after purchasing an additional 1,940,583 shares in the last quarter. Energy Income Partners LLC purchased a new position in Enterprise Products Partners in the second quarter valued at $508,461,000. Finally, Bank of America Corp DE purchased a new position in Enterprise Products Partners in the second quarter valued at $416,553,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

About Enterprise Products Partners

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.