Enterprise Products Partners (NYSE:EPD) Downgraded by Wall Street Zen to Hold

Wall Street Zen cut shares of Enterprise Products Partners (NYSE:EPD) from a buy rating to a hold rating in a report issued on Saturday.

Several other analysts have also recently weighed in on the stock. Jefferies Financial Group boosted their price objective on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the stock a “hold” rating in a research note on Tuesday, March 31st. UBS Group reissued a “buy” rating on shares of Enterprise Products Partners in a research note on Wednesday, March 4th. Royal Bank Of Canada boosted their price objective on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, March 30th. Wells Fargo & Company raised shares of Enterprise Products Partners from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $40.00 to $42.00 in a research note on Wednesday, March 25th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $42.00 price objective on shares of Enterprise Products Partners in a research note on Tuesday, April 14th. Nine investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Enterprise Products Partners has an average rating of “Hold” and a consensus target price of $39.60.

Enterprise Products Partners Stock Performance

Shares of NYSE:EPD opened at $39.24 on Friday. The company’s 50 day simple moving average is $37.82 and its 200 day simple moving average is $34.72. The stock has a market capitalization of $84.82 billion, a price-to-earnings ratio of 14.53, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.74. Enterprise Products Partners has a 1 year low of $30.01 and a 1 year high of $39.74.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The company had revenue of $14.39 billion for the quarter, compared to the consensus estimate of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The business’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 EPS. As a group, research analysts predict that Enterprise Products Partners will post 2.92 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were issued a $0.55 dividend. The ex-dividend date was Thursday, April 30th. This represents a $2.20 annualized dividend and a yield of 5.6%. Enterprise Products Partners’s payout ratio is presently 81.48%.

Insider Transactions at Enterprise Products Partners

In other news, CEO Aj Teague bought 2,665 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The shares were acquired at an average price of $37.55 per share, for a total transaction of $100,070.75. Following the completion of the acquisition, the chief executive officer directly owned 77,576 shares in the company, valued at approximately $2,912,978.80. This represents a 3.56% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 32.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Enterprise Products Partners

Several institutional investors have recently made changes to their positions in the stock. Everest Financial Group LLC raised its holdings in shares of Enterprise Products Partners by 3.6% during the first quarter. Everest Financial Group LLC now owns 7,886 shares of the oil and gas producer’s stock valued at $298,000 after purchasing an additional 271 shares during the period. Walker Asset Management LLC raised its holdings in shares of Enterprise Products Partners by 1.5% during the first quarter. Walker Asset Management LLC now owns 19,974 shares of the oil and gas producer’s stock valued at $756,000 after purchasing an additional 296 shares during the period. Hunter Associates Investment Management LLC raised its holdings in shares of Enterprise Products Partners by 3.8% during the first quarter. Hunter Associates Investment Management LLC now owns 8,106 shares of the oil and gas producer’s stock valued at $307,000 after purchasing an additional 300 shares during the period. Arete Wealth Advisors LLC raised its holdings in shares of Enterprise Products Partners by 1.5% during the third quarter. Arete Wealth Advisors LLC now owns 21,145 shares of the oil and gas producer’s stock valued at $661,000 after purchasing an additional 317 shares during the period. Finally, ORG Wealth Partners LLC raised its holdings in shares of Enterprise Products Partners by 0.5% during the fourth quarter. ORG Wealth Partners LLC now owns 66,266 shares of the oil and gas producer’s stock valued at $2,125,000 after purchasing an additional 317 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.