Enterprise Products Partners (NYSE:EPD) Research Coverage Started at Bank of America

Bank of America started coverage on shares of Enterprise Products Partners (NYSE:EPD) in a research note released on Thursday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $35.00 target price on the oil and gas producer’s stock.

Several other research analysts also recently weighed in on the stock. Royal Bank of Canada upped their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Truist Financial upped their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $33.73.

Enterprise Products Partners Trading Up 0.2 %

NYSE:EPD opened at $29.18 on Thursday. The business’s 50-day moving average is $29.21 and its two-hundred day moving average is $28.96. The firm has a market capitalization of $63.37 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. Enterprise Products Partners has a 12 month low of $25.61 and a 12 month high of $30.05. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.02). The company had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The business’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 earnings per share. Research analysts predict that Enterprise Products Partners will post 2.71 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be given a $0.525 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 7.20%. Enterprise Products Partners’s payout ratio is 82.35%.

Institutional Investors Weigh In On Enterprise Products Partners

Several institutional investors and hedge funds have recently made changes to their positions in EPD. Blackstone Inc. raised its holdings in shares of Enterprise Products Partners by 6.3% during the first quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock worth $686,712,000 after purchasing an additional 1,391,370 shares during the period. Reaves W H & Co. Inc. raised its stake in Enterprise Products Partners by 1,368.4% during the first quarter. Reaves W H & Co. Inc. now owns 1,468,440 shares of the oil and gas producer’s stock worth $42,849,000 after acquiring an additional 1,368,440 shares during the period. Berkley W R Corp lifted its holdings in Enterprise Products Partners by 24.5% in the first quarter. Berkley W R Corp now owns 5,089,794 shares of the oil and gas producer’s stock worth $148,520,000 after acquiring an additional 1,000,000 shares during the last quarter. Distillate Capital Partners LLC boosted its stake in Enterprise Products Partners by 160,136.7% in the second quarter. Distillate Capital Partners LLC now owns 767,534 shares of the oil and gas producer’s stock valued at $22,243,000 after acquiring an additional 767,055 shares during the period. Finally, Tortoise Capital Advisors L.L.C. grew its holdings in shares of Enterprise Products Partners by 4.8% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock valued at $470,091,000 after purchasing an additional 741,237 shares during the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.