Enterprise Products Partners (NYSE:EPD) Research Coverage Started at TD Cowen

TD Cowen assumed coverage on shares of Enterprise Products Partners (NYSE:EPD) in a research report released on Monday morning, Marketbeat Ratings reports. The firm issued a hold rating and a $33.00 price objective on the oil and gas producer’s stock.

Several other research firms have also commented on EPD. JPMorgan Chase & Co. raised their price target on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Morgan Stanley raised their target price on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 11th. Citigroup cut their price target on Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, May 13th. Royal Bank Of Canada reiterated an “outperform” rating and set a $37.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Finally, Barclays cut their price objective on Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a research report on Wednesday, July 2nd. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $36.20.

Enterprise Products Partners Stock Up 0.4%

Shares of EPD opened at $31.86 on Monday. The company has a market capitalization of $69.10 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 1.32 and a beta of 0.64. Enterprise Products Partners has a 52 week low of $27.37 and a 52 week high of $34.63. The stock’s 50-day moving average price is $31.32 and its 200-day moving average price is $32.08. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.05). The company had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $14.14 billion. Enterprise Products Partners had a return on equity of 19.90% and a net margin of 10.26%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.66 EPS. On average, sell-side analysts predict that Enterprise Products Partners will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be paid a $0.545 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.54. This represents a $2.18 annualized dividend and a yield of 6.84%. The ex-dividend date of this dividend is Thursday, July 31st. Enterprise Products Partners’s dividend payout ratio is currently 80.15%.

Institutional Investors Weigh In On Enterprise Products Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brooklyn Investment Group acquired a new position in Enterprise Products Partners during the first quarter worth about $27,000. Wealth Preservation Advisors LLC purchased a new position in Enterprise Products Partners in the 1st quarter worth approximately $28,000. Security National Bank acquired a new position in shares of Enterprise Products Partners during the 1st quarter worth approximately $30,000. Alpine Bank Wealth Management purchased a new stake in shares of Enterprise Products Partners in the first quarter valued at approximately $31,000. Finally, Tidemark LLC increased its holdings in shares of Enterprise Products Partners by 54.3% in the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 318 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

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.