Enterprise Products Partners L.P. (NYSE:EPD) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Enterprise Products Partners L.P. (NYSE:EPD) have earned an average rating of “Hold” from the eighteen ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, ten have given a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $40.12.

Several research firms have weighed in on EPD. Stifel Nicolaus started coverage on Enterprise Products Partners in a research note on Thursday, September 10th. They issued a “hold” rating and a $40.00 price target for the company. Melius Research initiated coverage on shares of Enterprise Products Partners in a research report on Tuesday. They set a “hold” rating and a $42.00 price objective on the stock. UBS Group reissued a “buy” rating and issued a $45.00 target price on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Morgan Stanley restated an “underweight” rating and set a $41.00 target price (up from $40.00) on shares of Enterprise Products Partners in a research report on Tuesday, August 18th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $38.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, June 17th.

Enterprise Products Partners Stock Down 0.8%

Shares of EPD stock opened at $37.26 on Friday. The company’s fifty day moving average price is $38.51 and its 200-day moving average price is $37.98. Enterprise Products Partners has a one year low of $30.01 and a one year high of $40.17. The company has a market capitalization of $80.45 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 1.40 and a beta of 0.50. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.93 and a quick ratio of 0.66.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. The firm had revenue of $18.27 billion during the quarter, compared to analyst estimates of $13.69 billion. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The business’s quarterly revenue was up 60.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.66 earnings per share. Sell-side analysts expect that Enterprise Products Partners will post 3.02 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were issued a dividend of $0.56 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Friday, July 31st. This represents a $2.24 annualized dividend and a dividend yield of 6.0%. Enterprise Products Partners’s payout ratio is currently 77.78%.

Institutional Investors Weigh In On Enterprise Products Partners

Several large investors have recently made changes to their positions in the company. QRG Capital Management Inc. boosted its stake in Enterprise Products Partners by 49.7% during the second quarter. QRG Capital Management Inc. now owns 10,004 shares of the oil and gas producer’s stock valued at $368,000 after buying an additional 3,321 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in Enterprise Products Partners by 2.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 662,552 shares of the oil and gas producer’s stock valued at $24,355,000 after buying an additional 16,760 shares in the last quarter. Security National Bank of Sioux City Iowa IA bought a new stake in Enterprise Products Partners in the 2nd quarter worth approximately $67,000. Anchor Investment Management LLC increased its stake in Enterprise Products Partners by 13.5% in the 2nd quarter. Anchor Investment Management LLC now owns 42,150 shares of the oil and gas producer’s stock worth $1,549,000 after acquiring an additional 5,004 shares during the last quarter. Finally, Core Capital Management & Research inc. purchased a new stake in shares of Enterprise Products Partners during the 2nd quarter worth approximately $4,393,000. 26.07% of the stock is owned by institutional investors.

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.