Royal Bank Of Canada Trims Enterprise Products Partners L.P. (EPD) Target Price to $31.00

Enterprise Products Partners L.P. (NYSE:EPD) had its price objective decreased by Royal Bank Of Canada from $34.00 to $31.00 in a report issued on Tuesday, October 31st, MarketBeat Ratings reports. Royal Bank Of Canada currently has an outperform rating on the oil and gas producer’s stock.

Several other analysts have also recently commented on the stock. Jefferies Group LLC decreased their price target on shares of Enterprise Products Partners L.P. from $33.00 to $30.00 and set a buy rating for the company in a report on Friday, September 1st. Zacks Investment Research cut shares of Enterprise Products Partners L.P. from a hold rating to a sell rating in a report on Tuesday, October 17th. Stifel Nicolaus restated a buy rating and set a $30.00 price target on shares of Enterprise Products Partners L.P. in a report on Friday, September 15th. Scotiabank set a $33.00 price target on shares of Enterprise Products Partners L.P. and gave the stock a buy rating in a report on Friday, July 21st. Finally, Seaport Global Securities assumed coverage on shares of Enterprise Products Partners L.P. in a report on Tuesday, October 10th. They set a neutral rating and a $29.00 price target for the company. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Enterprise Products Partners L.P. has an average rating of Buy and an average price target of $30.86.

Enterprise Products Partners L.P. (EPD) traded down $0.05 during mid-day trading on Tuesday, hitting $24.28. 5,930,454 shares of the company traded hands, compared to its average volume of 5,855,240. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.48 and a current ratio of 0.71. The firm has a market capitalization of $52,267.63, a PE ratio of 19.12, a P/E/G ratio of 3.64 and a beta of 0.89. Enterprise Products Partners L.P. has a twelve month low of $23.59 and a twelve month high of $30.25.

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The company also recently declared a quarterly dividend, which was paid on Tuesday, November 7th. Stockholders of record on Tuesday, October 31st were given a $0.4225 dividend. This is a positive change from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, October 30th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 6.96%. Enterprise Products Partners L.P.’s dividend payout ratio (DPR) is currently 135.20%.

In other news, Director Carin Marcy Barth purchased 12,000 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were bought at an average price of $25.00 per share, with a total value of $300,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 37.50% of the company’s stock.

Several large investors have recently added to or reduced their stakes in EPD. Janus Henderson Group PLC bought a new position in shares of Enterprise Products Partners L.P. in the second quarter valued at approximately $259,960,000. Principal Financial Group Inc. bought a new position in shares of Enterprise Products Partners L.P. in the second quarter valued at approximately $143,325,000. Commonwealth Bank of Australia increased its position in Enterprise Products Partners L.P. by 182.9% during the second quarter. Commonwealth Bank of Australia now owns 6,136,898 shares of the oil and gas producer’s stock worth $166,186,000 after acquiring an additional 3,967,879 shares during the period. BlackRock Inc. increased its position in Enterprise Products Partners L.P. by 5,083.2% during the first quarter. BlackRock Inc. now owns 3,225,992 shares of the oil and gas producer’s stock worth $89,069,000 after acquiring an additional 3,163,753 shares during the period. Finally, ING Groep NV increased its position in Enterprise Products Partners L.P. by 72.1% during the third quarter. ING Groep NV now owns 7,269,400 shares of the oil and gas producer’s stock worth $189,513,000 after acquiring an additional 3,044,560 shares during the period. 35.43% of the stock is currently owned by institutional investors.

Enterprise Products Partners L.P. Company Profile

Enterprise Products Partners L.P. (Enterprise) is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals and refined products in North America. The Company’s segments include NGL Pipelines & Services; Crude Oil Pipelines & Services; Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

Analyst Recommendations for Enterprise Products Partners L.P. (NYSE:EPD)

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