Enterprise Products Partners L.P. (NYSE:EPD) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Enterprise Products Partners L.P. (NYSE:EPD) from a hold rating to a sell rating in a research note issued to investors on Tuesday, October 17th.

According to Zacks, “Enterprise Products Partners’ escalating debt since 2012 reflects its weak balance sheet. We are also concerned about Enterprise Products’ rising operating costs. Though we believe that the partnership possesses solid cash flow stability from quality pipeline and storage assets and geographic diversity, volume risk and commodity price exposure can negatively impact near-term results. We remain apprehensive about a volatile NGL pricing environment. Enterprise Products also remains vulnerable to macro conditions and unstable oil & gas prices, which could hurt its margins in NGL, natural gas and other business.”

A number of other research firms also recently commented on EPD. BidaskClub upgraded shares of Enterprise Products Partners L.P. from a sell rating to a hold rating in a research note on Thursday, July 6th. Scotiabank set a $33.00 target price on shares of Enterprise Products Partners L.P. and gave the company a buy rating in a research note on Friday, July 21st. Jefferies Group LLC cut their target price on shares of Enterprise Products Partners L.P. from $33.00 to $30.00 and set a buy rating for the company in a research note on Friday, September 1st. Stifel Nicolaus reiterated a buy rating and issued a $30.00 target price on shares of Enterprise Products Partners L.P. in a research note on Friday, August 11th. Finally, BMO Capital Markets set a $33.00 price target on shares of Enterprise Products Partners L.P. and gave the company a buy rating in a report on Thursday, October 12th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Enterprise Products Partners L.P. has a consensus rating of Buy and an average target price of $30.86.

Enterprise Products Partners L.P. (NYSE:EPD) traded up $0.11 on Tuesday, hitting $25.11. 5,017,084 shares of the company were exchanged, compared to its average volume of 7,090,000. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.41 and a current ratio of 0.61. Enterprise Products Partners L.P. has a 1-year low of $23.84 and a 1-year high of $30.25. The company has a market cap of $54,030.00, a PE ratio of 19.68, a P/E/G ratio of 3.76 and a beta of 0.92.

Enterprise Products Partners L.P. (NYSE:EPD) last announced its earnings results on Thursday, August 3rd. The oil and gas producer reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.03). Enterprise Products Partners L.P. had a return on equity of 12.01% and a net margin of 9.83%. The company had revenue of $6.61 billion during the quarter, compared to analyst estimates of $6.44 billion. During the same period in the previous year, the company posted $0.27 earnings per share. Enterprise Products Partners L.P.’s revenue for the quarter was up 17.6% on a year-over-year basis. research analysts predict that Enterprise Products Partners L.P. will post 1.32 earnings per share for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 7th. Shareholders of record on Tuesday, October 31st will be paid a $0.4225 dividend. This is an increase from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.42. This represents a $1.69 annualized dividend and a yield of 6.73%. The ex-dividend date is Monday, October 30th. Enterprise Products Partners L.P.’s payout ratio is 149.56%.

Several large investors have recently bought and sold shares of EPD. Ameritas Investment Partners Inc. increased its position in shares of Enterprise Products Partners L.P. by 14.3% during the second quarter. Ameritas Investment Partners Inc. now owns 3,988 shares of the oil and gas producer’s stock worth $107,000 after acquiring an additional 500 shares in the last quarter. First Financial Corp IN boosted its holdings in Enterprise Products Partners L.P. by 11.1% during the second quarter. First Financial Corp IN now owns 4,000 shares of the oil and gas producer’s stock worth $108,000 after purchasing an additional 400 shares during the last quarter. First Eagle Investment Management LLC purchased a new position in Enterprise Products Partners L.P. during the second quarter worth about $130,000. Camarda Financial Advisors LLC boosted its holdings in Enterprise Products Partners L.P. by 0.6% during the second quarter. Camarda Financial Advisors LLC now owns 4,835 shares of the oil and gas producer’s stock worth $131,000 after purchasing an additional 27 shares during the last quarter. Finally, Jacobi Capital Management LLC boosted its holdings in Enterprise Products Partners L.P. by 690.9% during the second quarter. Jacobi Capital Management LLC now owns 5,449 shares of the oil and gas producer’s stock worth $148,000 after purchasing an additional 4,760 shares during the last quarter. 37.56% of the stock is owned by institutional investors.

About Enterprise Products Partners L.P.

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.

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