Enterprise Products Partners (NYSE:EPD) Given “Outperform” Rating at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Enterprise Products Partners (NYSE:EPD) in a research report released on Wednesday,Benzinga reports. Royal Bank of Canada currently has a $37.00 target price on the oil and gas producer’s stock.

EPD has been the subject of several other reports. Citigroup restated a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Scotiabank upped their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research report on Thursday, March 6th. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Morgan Stanley upped their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, March 11th. Finally, Barclays lifted their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.00.

Enterprise Products Partners Stock Up 1.1 %

Enterprise Products Partners stock opened at $33.86 on Wednesday. Enterprise Products Partners has a fifty-two week low of $27.37 and a fifty-two week high of $34.63. The firm has a market capitalization of $73.32 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08. The stock’s fifty day moving average is $33.44 and its two-hundred day moving average is $31.66. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.72 EPS. Analysts predict that Enterprise Products Partners will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.535 dividend. The ex-dividend date was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.32%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 79.55%.

Hedge Funds Weigh In On Enterprise Products Partners

Hedge funds and other institutional investors have recently modified their holdings of the company. Trust Co. of Vermont raised its holdings in Enterprise Products Partners by 10.0% in the fourth quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer’s stock valued at $104,000 after buying an additional 300 shares during the period. Griffin Asset Management Inc. increased its position in shares of Enterprise Products Partners by 0.8% in the fourth quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer’s stock worth $1,203,000 after acquiring an additional 305 shares in the last quarter. Evanson Asset Management LLC raised its stake in shares of Enterprise Products Partners by 0.4% in the 4th quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer’s stock valued at $2,304,000 after acquiring an additional 306 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of Enterprise Products Partners by 14.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer’s stock valued at $78,000 after acquiring an additional 308 shares in the last quarter. Finally, Sandbox Financial Partners LLC boosted its position in Enterprise Products Partners by 3.2% during the 4th quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer’s stock worth $317,000 after purchasing an additional 309 shares during the period. 26.07% of the stock is owned by institutional investors and hedge funds.

About Enterprise Products Partners

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.